PayPoint deal gives U Account customers access to cash pay-in services at any of its 29,000 retailers
PayPoint announced today that U Account, one of the UK’s leading bank alternatives has chosen PayPoint’s cash payments solution for its 50,000 current account holders. Customers can now load their U Account with a value from £10 to £250 at any of PayPoint’s 29,000 retailers across the UK. This gives U’s customers access to a network larger than all banks, Post Offices and supermarkets combined.
U is a bank alternative offering a digital current account that’s designed to help customers keep their finances under control, offering direct debit payments, budgeting tools and more.
With 99% of the UK population living within one mile of a PayPoint Store in urban areas, and five miles in rural areas, customers now have a more convenient method of adding funds. Previously U Account holders added funds via BACS or Faster Payments; integrating with PayPoint means customers now have more control of when and where they top up their account.
Lewis Alcraft, Commercial Director at PayPoint, said:“We’re delighted to announce our partnership with U and to be supporting the growth of one of the UK’s leading bank alternatives.
“Customers now expect multiple payment platforms to fit around their busy lifestyles, so offering more choice and flexibility to customers is essential. The addition of this service underlines the important role that our retailers play in providing vital services to their local communities. It also shows the blurring of the lines between online and offline – whether that’s shopping or banking.”
Alex Letts, CEO at U Account, said:
“Our mission is to support the efforts of our account holders to improve and maintain their financial wellbeing. Building PayPoint into our service is an essential piece of this equation: users have easy access to 29,000 local stores where they can pay in cash, as opposed to needing to catch a bus or drive miles to one of the few remaining bank branches! It’s about being a help and not a hindrance to people, giving them more options, and more control.”