Large sum of money deposited with PayPoint BankLocal through BankLocal Service, mere weeks following its successful debut in association with Lloyds
On August 26, 2022, Lloyds Bank marked a significant milestone by launching a new mobile app feature that allows customers to deposit up to £300 per day in cash at over 30,000 PayPoint locations nationwide.
The first customer transaction on the launch day was processed by Mr. Harshil Shah, owner of General Store & Newsagents in Leicester, demonstrating the convenience and accessibility of the service. Mr. Shah expressed satisfaction with the quick adoption of the BankLocal service, which offers local and convenient locations for banking services.
PayPoint, with its extensive network of over 30,000 retailer partners, including convenience stores and newsagents, provides a simple and convenient way to handle various errands, such as paying bills, returning or collecting parcels, buying gift cards, and topping up a mobile phone. The service allows customers to pay cash in using a simple barcode generated through the Lloyds app or the PayPoint website.
Anthony Sappor, Retail Propositions and Partnerships Director at PayPoint, emphasized the importance of local convenience stores to the communities they serve and expressed optimism about the service's future growth. Mr. Sappor stated that the BankLocal service is delivering an essential banking service to more customers, making it easier for them to complete multiple tasks in one place, across a wide range of locations nationwide.
The PayPoint service has already shown promising growth, with over £1 million in deposits received within the first few weeks of launch. In fact, NatWest, the first major British bank to launch a similar service, has also seen success, with PayPoint stores located within a mile of 99.5% of people, ensuring accessibility for a vast majority of the population.
The BankLocal service, as of the statement, has continued to build momentum, offering a new level of convenience for Lloyds customers and further solidifying the partnership between Lloyds and PayPoint.
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