PayPoint PLC on Tuesday said its first new initiatives from its Appreciate Group acquisition are now live.
The Welwyn Garden City, Hertfordshire-based payment services provider announced plans to buy Appreciate Group, a Merseyside-based prepaid gift card and voucher provider, back in November last year. The deal, which valued the company at around £83 million, was completed in February.
On Tuesday, PayPoint said that in Park Christmas Savings, over 1,000 members of the Federation of Independent Retailers have now signed up to become PayPoint Park Super Agents, helping recruit new savers for Christmas 2024.
‘Park Christmas Savings is the UK’s biggest Christmas savings club, helping over 350,000 budget-conscious families to spread the cost of Christmas, by saving regularly over the year and then converting their savings into gift cards and vouchers in the run-up to Christmas.
‘The service plays an important role in helping customers manage their household budgets better through the rising costs of living and boost their spending power through regular offers and discounts,’ PayPoint explained.
Meanwhile, PayPoint said it has completed a ‘significant’ expansion of the Love2shop gift card offering in partnership with 21 of the UK’s leading multiple retailer groups.
The move will see Love2shop’s flexible gift cards, which can be spent at over 90 leading retailers, available to purchase for the first time in store for the Christmas season in more than 2,600 new locations.
PayPoint will update the market further on progress across the company at its interim results, which will be released on November 23.
Shares in PayPoint were up 1.2% to 509.00 pence each in London on Tuesday morning.
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