PayPoint and Lloyds expand SME payment services partnership

This initiative integrates PayPoint and Handepay’s extensive merchant networks with Lloyds’ merchant services, aiming to provide a comprehensive set of tools to streamline payments and support business growth.

The collaboration offers SMEs several key benefits, including next-day settlements, faster onboarding processes, and access to a dedicated mobile app. The Handepay Merchant Mobile App enables SME owners to manage their operations more effectively by consolidating sales and transaction updates, summarizing sales performance, and offering insights through transaction filters. This app allows merchants to monitor business trends and performance at their convenience, providing greater control over their financial operations.

SMEs also gain access to the Handepay Loyalty Programme, which connects them with a range of products and services designed to enhance their business potential. These offerings aim to simplify day-to-day operations, reduce administrative burdens, and open opportunities for growth by leveraging value-added services from Handepay and its partners.

This partnership aligns with the evolving needs of SMEs, many of which are optimistic about future growth. According to the November 2024 Lloyds Business Barometer, 52% of small businesses plan to expand their workforce over the next 12 months. By providing enhanced payment services, the partnership helps SMEs manage their growth more effectively, positioning them to capitalize on new opportunities.

Driving growth and support

Building on a successful trial phase and positive feedback from merchants, this expanded partnership reflects PayPoint’s strategy of increasing value for its SME network. It also aligns with the company’s financial targets, including achieving GBP 100 million in EBITDA by FY26.

For Lloyds, the initiative reinforces its commitment to supporting the UK’s small businesses by offering payment solutions and technology previously reserved for larger enterprises. This approach ensures that SMEs can access modern tools to compete effectively in an increasingly digital marketplace.