Online payment system to fall under Pay360 brand
Outsourcing giant Capita has added PayPoint’s online payment systems to their portfolio. The company, whose interests include processing TV Licence payments, purchased PayPoint.net and Metacharge for £15 million. Its existing customers will benefit from PayPoint’s infrastructure as well as Capita’s own system, Pay360.
Pay360 was launched by Capita in April 2015. This allows small to medium sized businesses to take card payments via mobile devices, smartphones and telephones, as well as in person with Chip and PIN. PayPoint’s system will be absorbed by Capita’s Pay360 brand. Dominic Taylor, PayPoint’s Chief Executive stated:
“In line with our strategy, we are pleased to have agreed the sale of our Online Payment businesses. We announced our intention to sell our Mobile and Online businesses at our full year results last May , in order to focus on multi-channel payments where we have retail networks, to concentrate on our best prospects for future growth.”
Divisional Director of Capita, David Lockie said, “We see substantial growth potential in the payments market. Last year saw automated payments overtake cash, and it’s forecast that card payments alone will do this in the coming years, primarily driven by e-commerce and new innovation in mobile and contactless payments.”
Therefore PayPoint will be focusing on its retail payment arm, so their yellow signs will remain part of our retail landscape. The only difference is the online guts will be handled by Pay360.
PayPoint’s online payment system
PayPoint/Capita’s online payment system is broken down into seven areas. These are:
- Hosted Cashier: enables you to adopt seamless payments from your till.
- FraudGuard: fraud management software.
- EmailPay: permits email based payment.
- Cashier API: allows for secure tailor-made payment systems.
- Mobile SDK: in-app based payment systems.
- CardLock: offers secure storage of card details on Capita’s servers.
- PayCash: enables retailers to accept cash payments within existing network of PayPoint outlets.
Independent Merchant Services, 15 January 2016.