PayPoint signs multi-year partnership with Royal Mail

(Alliance News) - PayPoint PLC on Thursday announced an agreement as its consumer channels shift ...

Alliance News 22 February, 2024 | 2:33PM
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(Alliance News) - PayPoint PLC on Thursday announced an agreement as its consumer channels shift continues to move towards out of home.

The Welwyn Garden City, Hertfordshire-based payment services provider said the multi-year agreement with International Distributions Services PLC's Royal Mail will support the latter's strategy to expand its out of home reach and local network.

"The multi-year agreement will enable parcel drop off for Royal Mail customers at 5,000 Collect+ stores in communities across the UK by the summer. The partnership will provide Royal Mail customers with access to a range of services via PayPoint’s retailer partners," PayPoint said.

IDS Chief Executive Officer Martin Seidenberg "As customer preferences have evolved, Royal Mail has already opened up a variety of new ways for customers to access its services, including more online postage options through our website and app, 24/7 drop off at locations like parcel postboxes and collection from home through Royal Mail Parcel Collect. This partnership is an important part of Royal Mail's strategy to make our services even more convenient for customers and to expand our out of home offering to provide additional locations for our customers to use our services."

IDS shares rose 0.6% to 260.30 pence each on Thursday afternoon in London, while PayPoint shares were 3.1% higher at 510.00 pence each.

By Tom Budszus, Alliance News slot editor

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
International Distributions Services PLC 272.20 GBX -1.16 -
PayPoint PLC 486.00 GBX 0.73 -

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