PayPoint posts £213.5m annual revenue

PayPoint, the retail payment network which co-owns Collect+ with parcel carrier Yodel, has posted a revenue of £213.5m for the year ended 31 March.

This was just 0.8% on last year’s £211.9m. However, in a statement issued today (24 May), PayPoint noted that the previous year’s figures included the mobile payment business PayByPhone and Drop and Collect which were sold in December 2016 – so they were not directly comparable. When they were taken out of the equation, PayPoint actually notched up a 5% revenue increase.

The PayPoint statement said that the Collect+ parcel shop network currently incorporates 7,436 sites, making it “the largest of its type outside that of the traditional Post Office”.

The network processed 23.4 million parcels over the year, an increase of 2.0%.

PayPoint added: “Since renegotiating our Collect+ arrangements in December 2016, we have been transitioning to a multi-carrier proposition. We have a strong pipeline of parcel opportunities and contract discussions underway with the intention to have at least one live before Christmas, the peak season for parcels.”