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Editor's comment: Kept in the dark again

Editor's comment: Kept in the dark again
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PayPoint sets aside £12.5m amid Ofgem probe - Evening Telegraph

PayPoint sets aside £12.5m amid Ofgem probe
Customers top up their gas and electricity balances at PayPoint machines (Yui Mok/PA)
PayPoint has set aside £12.5 million to cover the potential fallout of an Ofgem investigation into how it allegedly used its strong position in the market to exclude competitors.
The business said it had made the provision as a “current best estimate” as it awaits a final decision from the energy regulator.
Ofgem claimed in September that between 2009 and 2018, PayPoint had dominated the market for prepayment energy customers.
When households with prepayment meters want to top up their accounts they can go to one of PayPoint’s 27,000 sites, largely in local supermarkets or newsagents. ....

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PayPoint sets aside £12.5m amid Ofgem probe

PayPoint sets aside £12.5m amid Ofgem probe
Customers top up their gas and electricity balances at PayPoint machines (Yui Mok/PA)
PayPoint has set aside £12.5 million to cover the potential fallout of an Ofgem investigation into how it allegedly used its strong position in the market to exclude competitors.
The business said it had made the provision as a “current best estimate” as it awaits a final decision from the energy regulator.
Ofgem claimed in September that between 2009 and 2018, PayPoint had dominated the market for prepayment energy customers.
When households with prepayment meters want to top up their accounts they can go to one of PayPoint’s 27,000 sites, largely in local supermarkets or newsagents. ....

Competition Act , Nick Wiles , போட்டி நாடகம் , நிக் வைல்ஸ் ,

Card payments help Paypoint offset its drop in revenue : CityAM

Card payments help Paypoint offset its drop in revenue
An increase in card payment transactions has helped Paypoint weather the Covid storm as it targets more retail partners amid the pandemic.
Underlying group net revenue fell nearly 11 per cent to £24.5m in the third quarter following the end of its contract with British Gas.
Its revenue from UK retail services fell 1.4 per cent to £10.6m, but increases in card payment transactions and service fees helped to offset the £0.4m hit from compensation paid to retail partners following an outage.
The payments company delivered a resilient performance in the face of further lockdowns. Card payment volumes grew 46.2 per cent year-on-year to 49.7m transactions as it increased its network to 27,758. The FTSE-listed firm said there had been “minimal impact from ongoing Covid-19 restrictions”. ....

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Online payments and card transactions offset Covid-19 hits at PayPoint

Shoppers using online payments and card transactions helped PayPoint offset the compensation it paid to customers for an outage in November and the loss of a contract with British Gas.
PayPoint said it had seen a 1.4% drop in retail services net revenue in its most recent quarter to £10.6 million, but said its full-year results would likely reach the higher end of previous projections.
A short outage on November 14 cost the company around £400,000 in compensation to the retailers that use its systems which offset increases in card payment transactions and service fees.
The number of card payment transactions jumped by 46.2% compared with the same period a year earlier, to 49.7 million, while UK parcels transactions increased by 6.6%. ....

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