PAYPOINT has launched a next business day settlement service for retailers, provided they sign up to integrated card payments with a ‘preferred acquirer’.
Initially available to new customers only, with a wider rollout scheduled for later this year, the next day business settlement will allow PayPoint One retailers to access card payment funds the next working day.
PayPoint plans to introduce the service, which it claims will improve cash flow, to all its retailer customers later this year. The next day service is free of charge and removes the existing wait of three to five days for retailers to receive card payment funds into their business account.
Anna Holness, sales director at PayPoint, said: “In the midst of economic uncertainty, we’re focused on supporting our retailer partners with innovative services that improve their cash flow, and the launch of our next business day settlement service does exactly that.
“Today marks the launch to new card payment customers, and over the course of 2022, it will be rolled out to all of our existing retailer partners who use our card payments service. It is the latest of many steps by the business to ensure that, through partnership with PayPoint, retailers have the ability to earn additional revenue, have greater flexibility and thrive amid a challenging operating environment.”