PayPoint has revealed its ambition to become a major player in the retail technology market and a rival to traditional EPoS providers with the launch of its PayPoint One system in September.
The new tablet-based terminal is live in “a few hundred” test stores and will officially launch on 28 September.
Amit Raithatha, who joined the company last August to develop the system, told RN: “We want to be a big player, not just in EPoS, but in central retail services like promotions, loyalty and diary management.
“Technology is a blocker for independents. We are giving them access and allowing them to benefit from it.”
PayPoint One will feature a basic EPoS system for entry-level retailers and upgrades for symbol and multi-site retailers looking for a more advanced system.
“We want to make it as simple as possible for retailers that just want to process transactions. But there will also be a much more modern approach to running reports, managing promotions and the back office,” said Mr Raithatha.
“It’s like the Sky model,” group marketing director Steve O’Neill added. “We provide the box, then retailers choose
either the basic package or one that’s been tailored to their needs.
“For a retailer running their whole business from it, or with more than one store, we can flex and grow the system accordingly.”
Retailers will be charged a monthly fee rather than an upfront cost, which the company has described as “really competitive”.
PayPoint founder and business development director Tim Watkin-Rees said: “No one else is investing multi-millions of pounds like this in the sector. You’ve got to stick your neck above the parapet with innovation.
“If we custom built a bespoke system for 1,000 c-stores, it would be very expensive. Building it for 30,000 stores makes it much less expensive. Our ambition is to roll it out overseas.”