PayPoint invests in Aperidata

PayPoint has invested GBP 1 million in Aperidata, an innovative consumer and business credit reporting and Open Banking platform. The deal will see the PayPoint Group building on an existing commercial partnership between the two companies delivering Open Banking solutions for clients across multiple sectors, including government, local authorities, charities, and housing associations.

The investment enhances PayPoint’s multichannel payments offering by adding Open Banking services, delivering improvements to customer experience and making it easier for organisations to access data for the benefit of their customers. Aperidata have been instrumental in the Group’s recent work with Citizen’s Advice Stevenage, launching an Open Banking driven Customer Support Tool that has cut the time spent by Debt Advisor’s gathering and reviewing financial information of individuals seeking help, from an average of three weeks per case to just minutes.

Officials from PayPoint said they’re happy to be investing in Aperidata, which will further enhance their Open Banking solutions and multichannel payments platform for clients in multiple sectors. This investment will enable PayPoint to continue its diversification to digital and enable further growth in Open Banking, which is one of their key building blocks to delivering GBP 100 million EBITDA by the end of FY26.

Also commenting on this partnership, representatives from Aperidata said PayPoint was a natural partner for them as they expand their Open Banking solutions and enable the next phase of growth. The UK credit score model is over 50 years old with little innovation over the years. Aperidata is solving tangible problems in 2024 with a digital-first solution that gives any user a real time P&L on consumers and businesses. Any time, any place – one will know its financial position in real-time.