Lloyds Banking, PayPoint expand partnership

PayPoint and Lloyds Bank announced a major partnership expansion, which will see Lloyds Bank Cardnet become the main card acquiring partner across the PayPoint Group’s network of over 60,000 SME and retailer partners. The expanded partnership, going into pilot in Q2 FY24/25, with a full launch expected in Q3 FY24/25, will offer merchants a banking and card services proposition combining card payments, a 12-month fee-free Lloyds bank business account and a connected competitive commercial card offering. The agreement extends to Northern Ireland as a new territory for the Handepay business, and additional revenue streams for the Merchant Rentals terminal lease business, as well as creating further growth opportunities for the PayPoint Group’s enhanced range of capabilities, including a merchant rewards scheme leveraging the Love2shop rewards and engagement platform.