Lloyds Bank expands merchant services to Paypoint UK SME network
Lloyds Bank is set to extend its merchant services to more than 60,000 UK small and medium-sized enterprises (SMEs) through an expanded partnership with PayPoint Group.
Lloyds Bank expands PayPoint partnership
The “comprehensive banking and payments offering” is intended to deliver “growth-boosting benefits” to the network, including next-day settlements, a streamlined onboarding process, and access to additional customer data and insights.
This offering is to be made available to the merchant networks currently served by PayPoint and Handepay, the card payments business acquired by the group in 2020.
Handepay is lending its new merchant mobile app to the offering, which comprises a unified sales view, sales performance insights, loyalty programme and transaction monitoring tools, and was launched last month.
PayPoint CEO, Nick Wiles, says the offering seeks to provide “the best possible access to growth-boosting partnerships and services for our SME network of over 60,000 businesses”, with the launch following the “very successful trial period”.
This latest development to the partnership complements the bank’s designation as the main card-acquiring partner to the PayPoint network, which was first announced in March this year.
