PayPoint posts double-digit revenue rise, fuelled by PayPoint One

PayPoint‘s retail services net revenue rose 10.5% in the three months to June 30, largely helped by service fees for its PayPoint One terminal.

The company said the integrated EPoS system, which launched in September last year, is now in 5,000 outlets, with 1,296 shops taking the terminal since the start of the financial year.

“The successful roll out of our innovative new PayPoint One terminal in the UK continues,” said PayPoint chief executive Dominic Taylor. “We are on target to achieve 8,000 installations by the end of this financial year.”

An 8.3% rise in card payment transactions and 5% increase in ATM transactions also contributed to the double-digit revenue growth.

The company added that it had seen a small amount of “retailer churn” as a result of introducing service fees for its old ‘yellow box’ terminals. It said the UK network reduced by 449 to 28,727 outlets in the previous quarter.