Monthly fees on the rise from PayPoint services
THE Federation of Independent Retailers (The Fed) has expressed its disappointment in payment service firm PayPoint’s decision to increase its monthly fees.
From 1 April, retailers using PayPoint will see their monthly fees increase by 3.8%, in line with the Retail Price Index.
Whilst The Fed said it is concerned about the cumulative impact this will have on its members, the current national president of The Fed Hetal Patel recognised the decision came as a result of the current economic climate.
He said: “Any increase in costs is disappointing, particularly at a time when independent retailers continue to face intense pressure from rising overheads, and we have raised these concerns on behalf of our members.”
The Fed said it has made its concerns clear to PayPoint on behalf of its members, but has strongly urged store owners to continue to make the most of the income generating opportunities that are made available through PayPoint’s services to help offset the increase.
Patel said: “At the same time, we strongly encourage retailers to ensure they are fully maximising the opportunities that PayPoint can bring to their businesses. The Health Check we launched with PayPoint a few years ago to help members to find the right opportunities to earn more in their stores saw thousands of retailers increase their revenue.”
In response to The Fed, a spokesperson for PayPoint said: “Supporting retailers to grow sustainable, diversified income streams continues to be our central mission. Over the past year we have broadened the range of services available in store, enabling our partners to generate additional revenue while strengthening their position within the communities they serve.
“This momentum has resulted in a year-on-year increase in commissions of 10%, demonstrating the tangible value these services deliver.
“We would also echo the words of the Fed and if any retailers are interested in how to maximise PayPoint’s opportunities to earn, do please get in touch with us directly.”
