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PayPoint and Lloyds Banking Group Expand Partnership To Include Card Deposits, As App Customer Deposits Surpasses £3 Million
PayPoint has today announced that Lloyds Banking Group customers have deposited over £3 million since the launch of its cash deposit service and the BankLocal partnership has now been expanded to include card deposits.
Lloyds Banking Group customers will now be able to deposit cash at over 3,000 PayPoint stores using their debit card alone. Customers can pay in up to £300 in each transaction, deposits are quick and secure, and the money appears in accounts within minutes. The extension of the service gives customers the option to deposit cash with their debit card or the barcode through the Lloyds Banking Group app.
Since the launch of the BankLocal partnership with Lloyds Banking Group, over £3 million worth of cash deposits into Lloyds Banking Group accounts have been made at PayPoint’s network of stores, with over 40% of transactions taking place before 9am and after 5pm.
Beaconsfield Cash & Carry in Southall, owned by Mr Lamba, has seen the highest number of transactions since the launch.
“With 99.5% of people living within a mile of a PayPoint stores, retailers are offering convenient locations to deposit cash, many of which open early and stay open until late, in the heart of local communities. PayPoint is committed to ensuring all Lloyds Banking Group customers can benefit from the service and the expansion to include card deposits makes it more accessible.” Anthony Sappor, Retail Propositions and Partnerships Director, PayPoint.
“The Lloyds Banking Group cash deposit service has been so popular with our customers already. From my perspective, it is great as it’s drawing in new customers who are making other purchases whilst in store, as well as offering an additional income stream. Stores like ours are important parts of local communities and the popularity of this service demonstrates retailers are playing an important role in providing banking services for customers.” Mr Lamba, Owner of Beaconsfield Cash & Carry.
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