Disgruntled retailers have been told if they “don’t like PayPoint they shouldn’t stay”, by the payment services provider’s top boss.
In an interview with RN, chief executive Dominic Taylor said his team will talk to retailers who want to leave on a one-to-one basis about their concerns and the terms of their contracts.
But, he said: “I don’t think people will want to leave.”
He added that retailers are “queuing up to join” because of the investment PayPoint makes in new products and services to drive footfall, despite retailers claiming basket spend for the average PayPoint customer is as little as 98p.
Gloucester newsagent Marcus Bergin, the man spearheading the PayPoint Pay Fair Facebook page, told RN two retailers have already told him they want out. It comes after he claims Andrew Goddard, PayPoint’s retail director, told him exit penalties will be waived if retailers work with the company.
Mr Bergin said: “I applaud Dominic Taylor for giving retailers that option, but it’s also very arrogant. We’re the retailers taking the money for them. Yes, he says he has a lot of retailers ready to come aboard the gravy train, but it won’t take them long to realise how bad it is.”
It remains to be seen if disgruntled retailers will be allowed out of their contracts without PayPoint imposing termination charges and I think retailers should test them on that
Payzone’s commercial director Simon Newton this week called on retailers to put PayPoint to the test.
He said: “It remains to be seen if disgruntled retailers will be allowed out of their contracts without PayPoint imposing termination charges and I think retailers should test them on that.”
Last week, Paypoint announced a 9.1% increase in profits last year and a proposed increase of 9.2% on the final dividend. It also announced it is selling its parking and online payment processing companies.