New initiatives from Appreciate Group acquisition

PayPoint Plc is pleased to announce that the first new initiatives following the acquisition of Appreciate Group in February 2023 are now live, leveraging the enhanced capabilities added to the Group with Love2shop and Park Christmas Savings.

In Park Christmas Savings, over 1,000 members of the Federation of Independent Retailers (the Fed) have now signed up to become PayPoint Park Super Agents, helping recruit new savers for Christmas 2024. This expansion complements the existing direct and agent sales channels for the service and leverages the strong customer demographic overlay for the proposition across PayPoint's retailer partner network. Park Christmas Savings is the UK's biggest Christmas savings club, helping over 350,000 budget-conscious families to spread the cost of Christmas, by saving regularly over the year and then converting their savings into gift cards and vouchers in the run up to Christmas. The service plays an important role in helping customers manage their household budgets better through the rising costs of living and boost their spending power through regular offers and discounts.

In Love2shop, the Group has completed a significant expansion of the Love2shop gift card offering in partnership with 21 of the UK's leading multiple retailer groups, including One Stop, MFG, Henderson's Retail, CJ Lang, Scotmid Co-op, Sewell's and Greens Retail. The move will see Love2shop gift cards available to purchase for the first time in store for the Christmas 2023 season in more than 2,600 new locations. Love2shop offers flexible gift cards which can be spent at over 90 leading retailers, including M&S, Argos, Currys, Iceland, Boots, TK Maxx and River Island.

PayPoint will update the market further on progress across the Group at its interim results for FY24 which will be released on 23 November 2023.