PayPoint Strengthens Partnership with Aperidata Through Investment
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PayPoint recently revealed that they are investing £1 million in Aperidata Ltd, a company that provides innovative credit reports for consumers and businesses, as well as Open Banking services.
This investment will strengthen the existing partnership between Aperidata and PayPoint. It will also enable them to expand their Open Banking services to clients such as the government, housing associations, charities, and local councils.
Paypoint’s Payment Services Will Facilitate Firms In Accessing Data More Efficiently
The investment boosts PayPoint’s payment services by including open banking and improving how customers use their services. It also helps organizations get data more easily to serve their customers better.
Aperidata played a vital role in the Group’s recent project with Citizen’s Advice Stevenage. The firm launched an Open Banking Customer Support Tool that reduced the time debt advisors spend collecting and reviewing financial data from three weeks per case to just minutes.
Nick Wiles, Chief Executive Officer of PayPoint, stated that his team is thrilled to invest in Aperidata. This will improve their Open Banking services and payment platform for clients in many areas. This investment helps PayPoint keep moving towards digital growth and supports its goal of reaching £100 million EBITDA by the end of FY26.
The Chief Executive Officer of Aperidata, Steve Ashworth, revealed that PayPoint was a perfect match for Aperidata as it expands its Open Banking solutions and enters the next growth phase. The UK credit scoring system has been around for more than 50 years with very little change or progress.
Aperidata Seeks To Expand The Usage Of Prepayment Meters For Gas And Electricity
AperiData is tackling real problems in 2024 with a digital-first solution that provides any user with an up-to-date profit and loss statement on businesses and consumers. Anytime, anywhere – customers will have the financial status in real time. AperiData is really excited to collaborate with the PayPoint teams and is eager to bring more success to the market.
PayPoint plc is a British company that provides a way to pay bills in Romania, Ireland, and the United Kingdom. It is traded on the London Stock Exchange.
The PayPoint network started in 1996 to let people buy gas and electricity for their pre-paid meters at local shops. Prepayment meters help users manage their energy use, which is good for the planet, and control their spending so they can live within their means.
Usually, around 40% of users use prepayment meters for their gas and electricity; this percentage has stayed about the same for the past five years. The system was first tried out in Northern Ireland and then introduced to London in 1997.
