PayPoint Plc

10 October 2023

First new initiatives from Appreciate Group acquisition now live

PayPoint Plc is pleased to announce that the first new initiatives following the acquisition of Appreciate Group in February 2023 are now live, leveraging the enhanced capabilities added to the Group with Love2shop and Park Christmas Savings.

In Park Christmas Savings, over 1,000 members of the Federation of Independent Retailers (the Fed) have now signed up to become PayPoint Park Super Agents, helping recruit new savers for Christmas 2024. This expansion complements the existing direct and agent sales channels for the service and leverages the strong customer demographic overlay for the proposition across PayPoint's retailer partner network. 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.

In Love2shop, the Group has completed a significant expansion of the Love2shop gift card offering in partnership with 21 of the UK's leading multiple retailer groups, including One Stop, MFG, Henderson's Retail, CJ Lang, Scotmid Co-op, Sewell's and Greens Retail. The move will see Love2shop gift cards available to purchase for the first time in store for the Christmas 2023 season in more than 2,600 new locations. Love2shop offers flexible gift cards which can be spent at over 90 leading retailers, including M&S, Argos, Currys, Iceland, Boots, TK Maxx and River Island.

PayPoint will update the market further on progress across the Group at its interim results for FY24 which will be released on 23 November 2023.

ABOUT PAYPOINT GROUP

For tens of thousands of businesses and millions of consumers, we deliver innovative technology and services that make life a little easier.

The PayPoint Group serves a diverse range of organisations, from SME and convenience retailer partners, to local authorities, government, multinational service providers and e-commerce brands. Our products are split across four core business divisions:

·      In Shopping, we enhance retailer propositions and customer experiences through EPoS services via PayPoint One, card payment technology, Counter Cash, ATMs and home delivery technology partnerships in over 60,000 SME and retailer partner locations across multiple sectors. Our retail network of over 28,000 convenience stores is larger than all the banks, supermarkets and Post Offices put together

·      In E-commerce, we deliver best-in-class customer journeys through Collect+, a tech-based delivery solution that allows parcels to be picked up, dropped off and sent at thousands of local stores

·      In Payments and Banking, we give our clients and their customers choice in how to make and receive payments quickly and conveniently. This includes our channel-agnostic digital payments platform, MultiPay, offering solutions to clients across cash, card payments, direct debit and Open Banking. PayPoint also supports its eMoney clients with purchase and redemption of eMoney across its retail network.

·      In Love2shop, we provide gifting, employee engagement, consumer incentive and prepaid savings solutions to thousands of consumers and businesses. Love2shop is the UK's number one multi-retailer gifting provider, offering consumers the choice to spend at more than 140 high-street and online retail partners. Park Christmas Savings is the UK's biggest Christmas savings club, helping over 350,000 families manage the cost of Christmas, by offering a huge range of gift cards and vouchers from some of the biggest high street names, including Argos, Primark and B&M.

Together, these solutions enable the PayPoint Group to create long-term value for all stakeholders, including customers,

communities and the world we live in.