PayPoint has announced that more than £1 million has already been deposited through its new BankLocal service just weeks after its launch on 26 August.
The service, launched in partnership with Lloyds Bank, allows customers to deposit up to £300 per day in cash at over 30,000 PayPoint stores nationwide using a simple barcode generated in the Lloyds mobile app.
The very first transaction took place on launch day at General Store & Newsagents in Leicester, run by independent retailer Harshil Shah, who said: “I couldn’t believe how quickly a Lloyds customer used the service! It is great that we can now provide another service for our customers and offer a local and convenient location for local banking services.”
With 99.5 per cent of the population living within a mile of a PayPoint outlet, the addition of cash deposits further strengthens the role of convenience stores as community hubs where customers can access a wide range of services – from parcel collections and bill payments to mobile top-ups and gift cards.
“The speed in which the BankLocal service has reached this milestone validates the consumer demand for this service and demonstrates the importance of local convenience stores to the communities they serve,” Anthony Sappor, retail propositions and partnerships director at PayPoint, said.
“Thanks to our network of over 30,000 PayPoint retailer partners nationwide, we’re looking forward to seeing the service continue to build momentum and deliver an essential banking service to even more customers in the future.”
Customers can locate their nearest participating store through the Lloyds app or the PayPoint website.