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PayPoint plc
Type Public (LSE: PAY)
Founded 1996
Headquarters Welwyn Garden City, UK
Key people David Newlands, (Chairman)
Dominic Taylor, (CEO)
Industry Payment systems
Revenue £212.1 million (2008)
Operating income £29.2 million (2008)
Net income £21.0 million (2008)
Website www.paypoint.com

PayPoint plc (LSE: PAY) is a British business offering a system for paying bills in the United Kingdom and Republic of Ireland. The Company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

Contents

History

The PayPoint network was set-up in 1996 providing a convenient place for customers to pay towards a limited range of utility companies' payment schemes: it was first tested in Northern Ireland[1] The Company launched its system to the media in 1997.[1] In 1998 the system was first offered to British Gas customers wanting to pay their bills; in 2000 it was also offered to Vodafone customers and in 2001 it was extended to Scottish Power, Manweb and Orange customers.[1] The Company was first listed on the London Stock Exchange in 2004.[2] The system was first extended to TV Licences in 2006.[1]

In November 2006 and February 2007 PayPoint acquired internet payment service providers Metacharge[3] and SECPay,[4] respectively. These ventures were merged and rebranded as PayPoint.net, providing a secure debit and credit card payment system for web-merchants, in July 2008.[5]

Operations

The Company provides the following services:[6]

Electricity key
  • It operates in-store credit/debit card processing facilities with Chip and Pin compliance.

Competitors

Rivals to PayPoint include the Post Office Ltd (in the UK), Payzone and An Post's PostPoint network (in Ireland) all of which offer similar services.

References

External links

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