03 Oct 2007


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PayPoint expands digital voucher scheme


PayPoint

Source : PayPoint
PayPoint, the UK's leading cash and internet payments company and i-movo, the digital voucher specialists, have signed a commercial agreement to allow PayPoint retailers to accept i-movo vouchers.

Under the agreement, PayPoint will be the sole branded convenience retail network partner. i-movo vouchers offer consumer discounts and outright payment against product purchases.

The PayPoint network will be able to process vouchers distributed by i-movo, whether by text message or encoded on contactless and magnetic stripe cards. Electronic settlement of the vouchers will be via PayPoint's existing financial relationships with its retailers.

i-movo's market-leading, digital voucher distribution system has already been used in campaigns for BP, Coke, the Daily Mail, Diageo, Financial Times, Nectar, Nestle, Nike, Martin McColls, Roadchef and The Times. It is also the platform chosen by the Evening Standard to run the Eros Card, the world's first dedicated contactless payment card for newspapers, launched in September.

David Tymm, i-movo's CEO said: "We estimate about a third of all newspapers sales in the UK are through PayPoint outlets. PayPoint outlets also account for significant volume in other categories such as confectionary, drinks and snacks.

“Extending our retail footprint to cover PayPoint outlets offers consumer brands a ready-made national network to run digital voucher and cashless payment schemes that embrace both branded and independent retailers. "

Dominic Taylor, PayPoint Chief Executive commented: "Our focus is to launch innovative and creative applications that can attract a wide spectrum of consumers in to PayPoint outlets, to satisfy their day-to-day shopping needs.

"PayPoint is excited by the potential that its national network can deliver to the many major consumer brands wishing to promote and distribute their products using e-coupons be that through independents or exclusive activities for our many multiple and symbol retail chains."

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