PayPoint network recovering well from lockdown lows

Bill payment transactions reduced over the three-month period, with consumers increasing their average top-up amounts and energy companies providing pre-payment consumers with credit, PayPoint reports.

Meanwhile, card payments have performed strongly, with June transactions 79% above a year earlier. ATM volumes continue to recover, although this recovery remains dependent on a broader recovery in the economy, PayPoint says.

Parcel volumes also continue to recover and are now close to pre-Covid levels and ahead last year.

Nick Wiles, chief executive of PayPoint, said: “We have delivered a solid first-quarter performance during a very challenging period for the business and the economy as a whole. Throughout the pandemic, as well as looking after the welfare of our staff we have remained focused on supporting our clients, retailer partner network, and the most vulnerable in the community.

“I am proud of the way the business has responded to recent challenges, and as we look ahead there is evidence of recovery in activity across a number of our services from the low point in April. We are now working hard to build on these positive signs and identify additional opportunities across our business.”