PayPoint (PAY): InPost/Yodel network harmonisation impact
This situation live
PAY PayPoint
20 Nov 2025 · Impact greater than anticipated · +12% until the next step
the impact from the disruption to our parcels network from the harmonisation of InPost and Yodel services combined with the commercial terms of our new 3-year contract has been greater than we had ant
28 Jan 2026 · Disruption navigated; volumes recovering over peak · +0% until the next step
We have successfully navigated the operational disruption experienced earlier in the year to deliver a record peak performance in our parcels business with positive transaction growth of 6.7%, Yodel/I
11 Jun 2026 · New 3-year agreement signed; c.4,000 sites live · +7% until the next step
InPost/Yodel – new 3-year commercial agreement signed in H1 FY26, with c.4,000 sites live for PUDO services with the rebranded InPost service
29 Jul 2026 · Parcel business still rebasing · +17% since
Net revenue was £21.6m (Q1 FY26: £23.1m), as the parcel business continues to rebase with growing volumes from Royal Mail and other carriers continuing to build, but not yet offsetting the impact of t
InPost/Yodel network harmonisation impact
Parcel business still rebasing
Every step · 4
- 20 Nov 2025 Impact greater than anticipated – the impact from the disruption to our parcels network from the harmonisation of InPost and Yodel services combined with the commercial terms of our new... ↗
- 28 Jan 2026 Disruption navigated; volumes recovering over peak – We have successfully navigated the operational disruption experienced earlier in the year to deliver a record peak performance in our parcels business with... ↗
- 11 Jun 2026 New 3-year agreement signed; c.4,000 sites live – InPost/Yodel – new 3-year commercial agreement signed in H1 FY26, with c.4,000 sites live for PUDO services with the rebranded InPost service ↗
- 29 Jul 2026 Parcel business still rebasing – Net revenue was £21.6m (Q1 FY26: £23.1m), as the parcel business continues to rebase with growing volumes from Royal Mail and other carriers continuing to... ↗
What is happening
PayPoint: InPost/Yodel network harmonisation impact – Parcel business still rebasing. ['Parcel business still rebasing']
- In short
- The InPost/Yodel network harmonisation disrupted FY26 volumes; a new 3-year InPost agreement is signed, with c.4,000 sites live. In Q1 FY27 Network Services net revenue fell 6.5% to £21.6m, as growing Royal Mail and other carrier volumes do not yet offset the new InPost terms and lower store-to-store volumes.
- Announced
- 20 Nov 2025 · Impact greater than anticipated
- Latest
- 29 Jul 2026 · Parcel business still rebasing
- Agreement
- New 3-year commercial agreement signed in H1 FY26
- Sites live
- c.4,000 for InPost PUDO
- Collect+ parcels FY26
- 135.4 million, +1.5%
- Network Services Q1 net revenue
- £21.6m, down 6.5% from £23.1m
- Drag
- New InPost commercial agreement and lower store-to-store volumes
- Offset
- Growing volumes from Royal Mail and other carriers, not yet enough
Briefing
PayPoint in 4 minutes
PayPoint runs a network of over 30,000 UK convenience stores that take parcels, bill payments, cash deposits and card payments, and it owns the Love2shop gift-card business. It chased £100m of annual underlying...
- Act 1Buying Love2shop and setting a £100m goal
- Act 2Spending on parcels, Open Banking and card partners
- Act 3Two setbacks and a reset in 2025
From the company's own announcements. Not investment advice.
Also at PayPoint 3 open
Turnaround plan with targetsCapital Markets Day strategy update – Held on 29 September 2026
Capital returnBuyback programme – proposed
Transformational contract / build-outRoyal Mail Shop rollout – 8,500 sites live; kiosk pilot H1 FY27
Insider conviction2 directors buying – £199k in 2 buys · closed
Legal & regulatoryG365 competition law claim – CAT judgment: liability found, minimal damages · closed
PayPoint – company page →