PayPoint announces investment in Optus Homes following payment partnership

PayPoint has announced a £750,000 investment in Optus Homes, a leading app for tenants to manage their home rental account.

The deal will see the PayPoint Group make an investment in the company, building on the recently-signed commercial partnership positioning PayPoint as the preferred payment provider within the app.

PayPoint said the the investment strengthens its MultiPay proposition for the housing sector, as the Optus Homes’ native app payment solution, allowing tenants to pay their rent and manage arrears payments directly in the app, on the phone, or over the counter in 28,000 local retailers across the UK.

“We’re delighted to be investing into the Optus Homes business, building on the partnership that we announced recently to integrate our MultiPay digital payments solutions into their app,” Nick Wiles, chief executive of PayPoint, said.

“This investment will enable PayPoint to build on the great progress made in the housing sector over the past few years, increasing financial inclusion and convenience for social housing tenants and removing complexity for social housing landlords.”

Gerry Kelly, Optus Homes chief executive, added: “PayPoint was a natural partner for us as we seek to offer digital payments solutions, convenience and peace-of-mind for tenants, as well as increased efficiency and reduced costs for housing providers. This investment will help us deliver these benefits to an even broader range of social housing clients and tenants, with simple, streamlined and secure rent payments and an enhanced customer experience.”