Following Financial Conduct Authority (FCA) approval, PayPoint has acquired i-movo.
i-movo and PayPoint have been key partners for many years, providing the CashOUT service used by over 100 UK local authorities, Department for Work & Pensions and many other charities and other agencies. Proving vital during the Covid-19 pandemic for school meal replacements, emergency energy credits and other services.
i-movo is also active in the field of digital consumer marketing and news publisher subscriptions where the realtime platform gives insights into consumer behaviour and compared to paper voucher schemes.
PayPoint CEO Nick Wiles commented: “This acquisition demonstrates PayPoint’s ongoing investment into propositions that will benefit our retailer partners through higher footfall. In addition, by bringing i-movo into our business we will continue to ensure that communities retain access to cash. David Tymm and his team bring expertise in consumer marketing and subscription schemes together with a broad track record of innovation in alternative payments. We are delighted to have the i-movo team join the PayPoint Group”.
According to David Tymm, who has led i-movo since its inception, “The market has wanted a major company to establish a single standard that brands and retailers could get behind with confidence so they could begin to phase out paper vouchers and reap the benefits of digitisation. We have always seen i-movo as representing that standard and we are thrilled to become part of the PayPoint team as their support, market presence and reputation makes this long-held ambition achievable”.