PayPoint is not just the famous yellow terminal and all the payments that can be made through it. The PayPoint proposition is differentiated from its competitors by the value added services that form a key part of the overall offer, including:
ATMs: Stores with an ATM attract more customers and are visited more often than stores with no ATM. And that’s not all: ATM customers spend more in-store than non-ATM customers, providing retailers with an additional source of revenue. An average PayPoint ATM retailer earns over £3,000 annually in commission and saves £750 – £1,500 annually in bank charges.
Card Payments: Credit card customers spend 80%* more than cash customers and are also more impulsive so the PayPoint credit and debit card service, provided in conjunction with Lloyds TSB, is an assured profit generator. The pin pad plugs into the PayPoint terminal, saving on valuable counter space and transaction fees are among the most competitive on the market.
Collect+: This unique parcel collection and delivery service brings a different type of customer to the store and earns impressive commission for participating PayPoint retailers. Collect+ is increasingly being offered by mail order and online merchants as an option for returning unwanted mail order and online returns, and as a delivery option, enabling customers to have goods delivered to a participating PayPoint retailer. Customers can send parcels to each other and small businesses can despatch their goods at a PayPoint retailer for delivery to another PayPoint retailer nominated by the customer. Collect+ is a preferred option on eBay.
SIM Cards: The traditional distribution of SIM cards, where retailers don’t receive commission for SIM card activations, is history. Direct supply gives retailers full control, recognition and reward for activations from the SIMs they sell. Retailers order using their PayPoint terminal and the SIMs arrive within a couple of days. Available in value packs for single operators or in mixed packs, retailers can earn as much as £253.05** for the Mixed Value Pack.
Money Transfer with Western Union®: Offering the Western Union® Money Transfersm service with PayPoint really gives a retailer a unique advantage over other local stores by attracting more customers, generating additional footfall and increasing profits. With 16% commission on Send transaction fees and £1 on Receive transactions, the average annual commission with the Western Union® Money Transfersm service can be as high as £3,500.
* Source: him!/CTP 2009
** Buy 40 get 60 Value Pack, as at 1 October 2010
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