Paypoint (LSE:PAY), the payment service, is expanding its partnership with Yodel and Vinted, by expanding the reach of its Collect + network.
Collect+ is an ‘Out of Home’ parcel pick-up, drop-off, and send service based in the UK and owned by Paypoint (LSE:PAY).
Courier Yodel and clothes reselling platform Vinted have signed a multi-year contract agreement, and while the exact details remain hazy, Paypoint (LSE:PAY) has said it will result in “significant transaction growth”.
Nick Wiles, CEO of PayPoint, said in a statement: "We are delighted that Collect+ will be playing a key role in this expanded partnership with Yodel and Vinted. As consumer channel shift continues to move towards Out of Home and greener delivery choices, our fantastic retailer partners will now have an even greater opportunity to serve the needs of their customers in communities across the UK through our leading OOH network.
“We remain fully committed to investing further in the in-store consumer experience, through technology and operational support for our retailer partners, as well as continuing to grow our Collect+ network to service the strong growth in this area.”
Further updates on Collect + are expected in PayPoint’s interim results on Thursday.
Shares in PayPoint remained flat on Tuesday, having opened at 528p.