Saving time for newsagents and saving money for publishers

Chosen by the Telegraph to work with GT News, i-movo and PayPoint have developed a process whereby a day’s work for a retailer can be condensed into the time it takes to swipe a credit card through a payment terminal…

“The retailers who deliver the Telegraph to our readers are a vital part of our business and, with the i-movo/PayPoint scheme, we have shown how we can make their lives easier by saving them time as well as getting them paid more promptly.” So said Martin Harris, Subscriptions Manager at Telegraph Media Group, as the Telegraph became the first newspaper in the UK to use a national payment network as an alternative to traditional paper vouchers for paying newsagents for home deliveries.

Each participating GT News outlet was sent a branded plastic card with instructions on the front and a magnetic stripe on the reverse. Swiping the card generated a receipt that stated how much that retailer had earned for that week’s deliveries. Within six days the retailer received payment from PayPoint detailed on their commission statement.

Graeme Merifield of GT News said, “Many revolutionary initiatives mean a learning curve and a period where “pain” is felt before “gain” is experienced. This one didn’t. It was simple for our staff to understand and operate and it saved them time from the word ‘go’. From a management point of view, we could see that all payments were being claimed promptly and the settlement process via PayPoint was seamless.”

Retail Director at PayPoint, Mike Igoe, said, “With 99.1% of the UK population in urban areas being within one mile of one of our retailers, and five miles in rural areas, and the resurgence of the Convenience Retail sector, the time is right for the newspaper and publishing industries to consider PayPoint and i-movo as their natural partners for fulfilling subscriptions for their readers.”

Ends

Notes to Editors

About i-movo:

www.i-movo.com

i-movo was founded in 2003 with the singular aim to provide a digital voucher service that can be implemented by any retailer without the need for additional hardware or expensive custom software development.

Six years on i-movo is the world’s only secure digital voucher system using existing payment technology deployed across multiple retailers and used daily by multiple brands.

For more information please contact:

David Tymm, CEO, i-movo, Tel: 0207 960 2571
david.tymm@i-movo.com

 About GT Retail:

GT Retail is a privately owned, East Midlands based convenience and CTN retailer based with 60 shops located around the South Yorkshire and East Midlands. GT are totally committed to growing news and magazines sales and were delighted to be awarded Magazine Retailer of the Year at the ACE awards earlier in the year.

About PayPoint:

PayPoint is the leading cash and internet payments company in the UK, with operations also in Ireland and Romania. It handles nearly £9 billion from over 540 million transactions annually for more than 6,000 clients and merchants. The company operates several businesses:

The PayPoint branded retail network numbers over 22,000 terminals located in local shops (including Co-op, Spar, McColls, Costcutter, Sainsburys Local, One Stop, Londis and thousands of independents) in all parts of the UK and Ireland. Our terminals process gas and electricity meter prepayments, cash bill payments, mobile phone top-ups, transport tickets, BBC TV licences and a wide variety of other payment types for most leading utilities, telecommunications suppliers and many consumer service companies;

An ATM network which has over 2,300 ‘LINK’ branded machines across the UK, typically in convenience stores;

PayPoint.net, an internet payment service provider, delivers secure online credit and debit card payments for over 5,000 web merchants, linking into all major UK acquiring banks;

Pay Store SRL, trading as PayPoint Romania, a mobile top-up operator with over 5,700 outlets equipped with electronic terminals. A bill payment service has been added to increase the breadth of PayPoint’s offering in Romania, emulating the UK branded retail network; and

Collect+, a joint venture with Home Delivery Network Limited, provides a parcel collection and drop off service at our retailers.

PayPoint floated on the London Stock Exchange in September 2004 and the company’s market capitalisation at 13 August 2009 was £362 million.

Enquiries:
PayPoint Press Office
01707 600356
peterbrooker@paypoint.co.uk