PayPoint announces investment in Aperidata

PayPoint Plc

May 29, 2024

PayPoint announces investment in Aperidata

PayPoint today announced a £1 million investment in Aperidata Ltd, an innovative consumer and business credit information and Open Banking platform. The deal will see PayPoint Group build on an existing business partnership between the two companies, providing Open Banking solutions to customers across multiple sectors, including government, local authorities, charities and housing associations.

This investment enhances PayPoint’s multi-channel payments offering by adding Open Banking services, improving the customer experience and making it easier for organizations to access data for the benefit of their customers. Aperidata was instrumental in the Group’s recent work with Citizen’s Advice Stevenage, launching an Open Banking-based customer support tool which reduced the time spent by debt advisors collecting and reviewing clients’ financial information. people seeking help, from an average of three weeks per case to just a few minutes.

Nick Wiles, CEO of PayPoint said:

“We are excited to invest in Aperidata, which will further enhance our Open Banking solutions and multi-channel payments platform for customers across multiple industries. This investment will enable PayPoint to continue its diversification into digital and enable further growth in Open Banking, which is one of our key enablers in generating £100m EBITDA by the end of the year. exercise 26.”

Steve Ashworth, CEO of Aperidata said:

“PayPoint was a natural partner for us as we scale our Open Banking solutions and enable the next phase of growth. The UK credit scoring model has been around for over 50 years with little innovation over the years. Aperidata solves real-world problems in 2024 with a digital solution that gives any user a real-time P&L on consumers and businesses. Anytime and anywhere, you will know the financial situation in real time. We are very excited to work with the PayPoint teams and look forward to driving further success in the market.

ABOUT THE PAYPOINT GROUP

For tens of thousands of businesses and millions of consumers, we deliver innovative technologies and services that make life a little easier.

The PayPoint Group serves a wide range of organizations, from SME and retail partners, to local authorities, governments, multinational service providers and e-commerce brands. Our products are divided into four main business divisions:

The story continues

• In Shopping, we enhance retailer propositions and customer experiences through EPoS services through PayPoint One, card payment technology, ATMs, vending machines and home delivery technology partnerships in over 60 000 SMEs and retail partner sites in several sectors. Our retail network of more than 28,000 convenience stores is larger than all the banks, supermarkets and post offices combined.

• In e-commerce, we deliver the best customer journeys through Collect+, a technology-enabled delivery solution that enables packages to be picked up, dropped off and sent to thousands of local stores.

• In Payments and Banking, we give our customers and their customers the choice of how to make and receive payments quickly and easily. This includes our channel-agnostic digital payments platform, MultiPay, which offers solutions to customers across cash, card, direct debit and Open Banking payments. PayPoint also helps its eMoney customers purchase and redeem eMoney through its retail network.

• At Love2shop, we provide gifting, employee engagement, consumer incentives and prepaid savings solutions to thousands of consumers and businesses. Love2shop is the UK’s leading multi-retail gift provider, giving consumers the choice to spend at over 140 online and high street retail partners. Park Christmas Savings is the UK’s largest Christmas savings club, helping over 350,000 families manage the cost of Christmas, offering a huge range of gift cards and vouchers from some of the most big names on the high street including Argos, Primark and B&M.

Together, these solutions enable PayPoint Group to create long-term value for all stakeholders, including customers, communities and the world we live in.

ABOUT APERIDATA

Aperidata is an FCA-authorized credit reference agency and Open Bank Account Information Service Provider (AISP) that uses financial data to transform credit scoring. Through their connections with UK banks, they are using the power of Open Banking to make credit assessments better, faster and fairer for consumers and financial institutions. They go beyond traditional credit scoring, providing a comprehensive, real-time view of a customer’s creditworthiness and, thanks to the immense depth of data, they are revolutionizing credit scoring and lending processes that allow you to make instant, responsible and ethical credit decisions. What sets them apart is their decades of global experience in the world of credit risk management and data analytics, which provides them with a deep understanding of client needs, as well as unrivaled insight into the best services and processes that may result from them. the open banking initiative. This experience is integrated not only into their technology solutions, but also into their delivery methodology, which allows them to efficiently implement the right solution for each client.