Established in 1996, PayPoint is a merchant account provider headquartered in Walwyn Garden City, England, providing payment processing solutions to UK, Romania, and Ireland-based companies. The company started by facilitating retail consumers with electricity and gas bill payments and later expanded its services to multiple businesses. The provider is one of the London Stock Exchange trading companies. It has partnered with Lloyds Bank Cardnet for its payment solutions and utilizes Barclays’ bill payment services to accommodate consumers. Based on various fact-checks here is a complete PayPoint review.
Since its establishment, PayPoint has acquired various notable companies, including Handepay, RSM 2000, i-movo, Collect+, and Merchant Rentals. The provider offers e-commerce and mobile payment solutions, ATM services, and credit card processing to businesses and has over 28,000 locations all around the UK. It serves various industries, including retail, hospitality, SAAS, and non-profits.
PayPoint has a range of services for parcel carriers, gas and electricity suppliers, moving companies, hospitality businesses, convenience, and grocery stores, auto trade, and other small to medium-sized enterprises. Below is a review of PayPoint overviewing its services and shortcomings to give a better view of the available options to merchants looking forward to signing up with the payment processor.
PayPoint Review Based on Features and Services
PayPoint offers advanced technology features and pioneering services to help merchants expand their business beyond it’s current limits. The company promises progressive solutions to ensure an easier approach to life and business hand in hand. It provides the necessary assistance for companies to offer their customers a seamless payment system and comply with the ever-changing market.
PayPoint aims to build trust in its clients by helping them understand their customer’s needs and meet their expectations. The company looks after modern business demands and provides digital vouchering, EPoS, cash withdrawal services, SIM cards, parcel services, and loyalty programs to a diverse clientele.
PayPoint One EPOS System
According to PayPoint reviews, the provider offers electronic POS systems to retailers and helps maximize their capacity to provide the best shopping experience to customers and minimizes any possible disruption. Merchants can choose from various options, decide on the package that suits their needs, and save time while increasing their revenue. They are provided with a free mobile app that connects with their retail store. This way, merchants can access and run their businesses on their smartphones from anywhere.
PayPoint One provides real-time sales reports, inventory management, and product maintenance features. Merchants can list the product pricing and customize promotions for multiple categories. With multiple supplier integrations, users can get price files, connect with multiple wholesales, and simplify orders.
Bill Payments
The provider is a market leader in bill payment services, with over 28,000 stores and the biggest brands under its belt. By introducing PayPoint services, merchants can get paid for processing transactions and invite extra sales as the provider offers additional items to users upon visiting. They can access their commission statements anywhere on a Wi-Fi-enabled device and gain retailer deals and training services from the provider. Additionally, PayPoint offers a freephone contact center support for merchants to access assistance when needed.
Parcel Services
With Collect+, a leading courier network, the provider offers pick-up and drop-off facilities to numerous stores across the UK. This service allows consumers to collect and drop online shopping at various stores and helps merchants increase footfall and get a commission for every parcel. Businesses can provide convenience to their customers by accessing famous online retail brands such as Very, eBay, and Asos.
Digital Vouchers
PayPoint reviews portray that the company facilitates digital vouchers, allowing merchants to reach out to customers all around the country digitally. Merchants can control the usage of coupons and gain customer insight. Customers can shop online or in person and redeem the e-voucher through their smartphones without keeping a physical voucher. It is also the best way to promote contactless redemption and distribution and provide ease for merchants and customers.
PayPoint Review Based on Cost and Contract Terms
The provider issues its pricing and contract terms through Lloyds Cardnet and provides variable contracts depending on the business processing history, size, and type. An average PayPoint contract lasts 1 to 3 years with a £200 early termination fee. Even though the provider has not completely disclosed its rates on the website, PayPoint reviews indicate that it offers flat rates to businesses.
Merchants pay a £175 joining fee, a £15 monthly minimum fee which is £25 for new merchants, and a £15 to £24.95 per month terminal rental fee. They are charged 1.25% for all credit and debit card transactions and a £30 weekly equipment lease fee. The provider offers a base (£15 for new merchants), core (£20 for old merchants), and pro package (£30) for renting POS. Each package comes with a set of features and services that advance respectively.
PayPoint Review Based on Sales
PayPoint reviews show that the company utilizes traditional advertisement methods and trains an in-house sales team to market its services. Even though the rates are not disclosed on the website, there is no evidence of the provider taking deceptive measures to lure merchants into signing up. The company promises that merchants are provided honest quotes, dependable claims, and a trustworthy sales team.
PayPoint Review Based on Customer Support
PayPoint has reserved a phone support number and mentioned an email address for merchants to reach out to. There is an FAQ page answering basic questions and an online form to write your concerns and queries. Furthermore, the provider has dedicated profiles on various social media platforms, including Facebook, LinkedIn, and Twitter. However, PayPoint’s customer service is not competitive with the leading payment processors.
PayPoint Reviews and Complaints
Few complaints are cited against PayPoint, and merchants have not posted many reviews online. The company does not have any mentionable lawsuits or FTC complaints filed against it and is considered a reasonable service provider. However, merchants have complained about issues relating to the company’s cancelation terms and customer service and have reported hidden charges and technical difficulties.
The low complaint rate indicates that many merchants are directing their complaints concerning the company’s contract terms and pricing to the company (Lloyds Cardnet) handling these departments.
Better Business Bureau does not accredit PayPoint as the provider is a UK-based company. Hence there is no BBB rating to support or oppose the provider. Furthermore, the company has no active profile on other review sites, so it is impossible to rely on online ratings.
PayPoint Drawbacks
The provider has useful features and a range of equipment to offer businesses of multiple niches and is well-reputed for its billing payment services. However, its shortcomings in some major areas can be damaging in the long run and cause inconvenience for merchants and their customers. Here is a PayPoint review concerning its drawbacks;
Difficulty in Contract Cancelation
PayPoint claims to ease the contract cancellation process and charge a £200 early termination fee, but merchants have indicated otherwise. Complaints prove that merchants are given a hard time while walking out of the agreement and forced to pay a hefty amount to free their business, which is a red flag. A reliable service provider does not forcefully bind its merchants and prioritizes their comfort.
Unexpected Charges
Hidden charges are one of the biggest reasons not to trust a service provider. Merchants have complained that they are introduced to multiple fees that should have been mentioned beforehand and appeared after signing the contract with PayPoint. Businesses should hire a third-party audit to eliminate unexpected charges.
Below-Average Customer Service
Customer service can defame a service provider or maintain its reputation as it deals with its customers and has direct contact with their concerns. According to PayPoint reviews, the company’s customer service receives the most complaints. The provider offers limited support options, and its customer service team is undertrained and inexperienced. Consequently, many complaints are unacknowledged or not resolved to the customer’s satisfaction.
Undisclosed Information
The provider does not disclose information regarding its contract terms, and its rates are not mentioned. Providing a contract through another company leaves little room for control, and the provider cannot offer transparency to clients. Moreover, PayPoint has not mentioned its equipment lease terms, and there is no information regarding its various services.
Merchants are unsure if they can rely on the company and afford its services. They are forced to take a huge risk by signing the contract without being given the necessary information. In such cases, businesses usually find themselves stuck in an unwanted agreement.
Final Verdict
This PayPoint review concludes that the company is a reasonable service provider for small-sized businesses and retail stores. Its features and services are better suited for merchants not concerned about its customer service and already using some PayPoint products. However, it is not the best payment processor for new merchants looking for an affordable pricing package.
Merchants are advised to compare their options, find a better-suited service provider that offers reliable customer support and transparent pricing, and negotiate a deal with their chosen payment processor. Businesses that have already decided to sign up with PayPoint should ask all the necessary questions and cover all aspects to avoid future inconvenience.
