PayPoint has delivered 17.8% growth in retail transactions after shifting its focus to retailers last year.
Retail services transactions hit £140m in the year ended March 31, the company reported in its preliminary results.
Dominic Taylor, PayPoint chief executive, said it had “put a lot of effort into re-engaging with the retail community to better understand issues and deliver a better service”, with the re-introduction of its retailer forum, a new free call centre and a stronger focus on fulfilling retailer needs on products and services.
“Through our refocus on retail, we’ve got more opportunity to look after our retailers and drive more value to them and more value to us,” he said.
There’s no question that when you get lots of feedback as we did from retailers, it makes you sit up and pay attention and we’ve certainly done that
Dominic Taylor, PayPoint
“We’re keen to do more to evolve their businesses and our business even further. We’ve got much more to come to create an ethos where we treat our retailers as a first class service.”
The company’s increased focus on retailers came after a huge fallout with retailers over its decision to cut commission caps in May 2015. “There’s no question that when you get lots of feedback as we did from retailers, it makes you sit up and pay attention and we’ve certainly done that,” said Taylor.
PayPoint also announced that its new terminal – PayPoint One – will roll out to stores towards the back end of the summer. The system includes the traditional PayPoint proposition as well as an integrated payments solution for processing card and contactless payments, and EPoS capability.
“In the past, PayPoint has been on the periphery of the retailers’ counter, alongside EPoS or a till,” Taylor added. “What this technology does is integrate all of that into one box, which opens up the counter, makes it easier for the retailer, and is much quicker.”