Capita has added to its payments capability with the acquisition of the online payment business of PayPoint.
PayPoint’s Online Payments business has a portfolio of pan-European clients, with a proven specialism in a range of sectors. It serves around 200 high-profile enterprise brands and 3,500 SMEs. In the financial year 2014-2015, it processed more than 100m transactions amounting to £4.5bn worth of payments.
In the last two years PayPoint has made significant investment in a new ‘payment services platform and complimentary solutions for payment card security, fraud risk management and payment reporting.
Capita is an established enterprise payment management provider with a large customer base across private sector, local government, housing, health, education and utilities. In April 2015 Capita launched Pay360, which enables small and medium sized enterprises to take card payments via multiple channels such as online, face-to-face, phone, mobile, Chip and PIN, smartphone and tablets.
Capita’s multi-sector customers will benefit from PayPoint’s e-commerce expertise, including a comprehensive portfolio of add on services such as anti-fraud and risk management tools - all of which will serve to enhance Capita’s existing payment solutions portfolio.
David Lockie, divisional director, Capita 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 ecommerce and new innovation in mobile and contactless payments.
“As a result the payments market is a focus for us and we are aiming to lead in the technologies and solutions that service it. The new combined Pay360 business will help us to realise our full potential as a market leading independent payment service provider, serving organisations from all sectors, of all sizes, taking any payment, anywhere. Our goal is to support our customers’ growth by providing the most appropriate and efficient payment solutions that underpin delivery of excellent customer experience.”