Love2shop and Park Christmas Savings are two solutions that PayPoint Group offers to thousands of consumers and businesses in the UK. Love2shop is the number one multi-retailer gifting provider, while Park Christmas Savings is the largest Christmas savings club in the UK, helping families manage the cost of Christmas by offering a wide range of gift cards and vouchers. These solutions enable PayPoint Group to create long-term value for all stakeholders, including customers, communities, and the world we live in. Additionally, the top five relevant keywords from this content are Love2shop, Park Christmas Savings, gifting, prepaid savings, and PayPoint Group.
PayPoint Plc Announcement: Addressing Ofgem’s Concerns
PayPoint Plc confirmed on November 23, 2021, that Ofgem, the energy regulator, had accepted its voluntary commitments to address the concerns raised in Ofgem’s Statement of Objections received on September 29, 2020.
Recently, PayPoint received a small number of ‘letter before action’ correspondence from market participants relating to the issues addressed by the voluntary commitments that were accepted by Ofgem as a resolution of its concerns. PayPoint reviewed the correspondence and intends to respond robustly while continuing to seek appropriate legal advice.
PayPoint has been working with Ofgem on a timetable to make contact with its energy sector clients since November 2021. They aim to waive the rights of exclusivity in its agreements, consistent with these voluntary commitments. During this time, PayPoint successfully re-tendered on a non-exclusive basis with some of its clients in the energy sector.
Enquiries
If you have any questions about this announcement, please contact:
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PayPoint plc
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FGS Global
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Nick Wiles, Chief Executive (Mobile: 07442 968960)
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Rollo Head
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Alan Dale, Finance Director (Mobile: 07778 043962)
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James Thompson
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Telephone: 0207 251 3801
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Email: PayPoint-LON@fgsglobal.com
About PayPoint Group
PayPoint Group offers innovative technology and services that make life easier for tens of thousands of businesses and millions of consumers. The group serves a diverse range of organizations, from SME and convenience retailer partners to local authorities, government, multinational service providers, and e-commerce brands. The products are split across four core business divisions:
Shopping
In Shopping, PayPoint enhances retailer propositions and customer experiences through EPoS services via PayPoint One, card payment technology, Counter Cash, ATMs, and home delivery technology partnerships in over 60,000 SME and retailer partner locations across multiple sectors. The retail network of over 28,000 convenience stores is larger than all the banks, supermarkets, and Post Offices put together.
E-commerce
In E-commerce, PayPoint delivers best-in-class customer journeys through Collect+, a tech-based delivery solution that allows parcels to be picked up, dropped off, and sent at thousands of local stores.
Payments and Banking
In Payments and Banking, PayPoint offers clients and their customers choice in how to make and receive payments quickly and conveniently. This includes its channel-agnostic digital payments platform, MultiPay, offering solutions to clients across cash, card payments, direct debit, and Open Banking. PayPoint also supports its eMoney clients with the purchase and redemption of eMoney across its retail network.
Love2shop and Park Christmas Savings by PayPoint Group
Love2shop is a provider of gifting, employee engagement, consumer incentive, and prepaid savings solutions to thousands of consumers and businesses in the UK. It is the number one multi-retailer gifting provider, offering consumers the choice to spend at over 140 high-street and online retail partners.
On the other hand, Park Christmas Savings is the biggest Christmas savings club in the UK, with over 350,000 families benefiting from its service. It offers a vast range of gift cards and vouchers from some of the biggest high street names to help families manage the cost of Christmas.
Both solutions, Love2shop and Park Christmas Savings, enable the PayPoint Group to create long-term value for all stakeholders, including customers, communities, and the world we live in.
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