PayPoint have announced further improvements to their Single Daily Settlement system, which will help retailers reduce or remove banking charge costs.

The changes will see PayPoiint reduce the amount of cash retailers need to bank for transactions by deducting the commission owed from the transactional monies due to them. As a result, the retailer Settlement Notice will look slightly different as it will include details of commission due.

Commenting on the announcement, PayPoint Commercial Director Lewis Alcraft said: “We hope this change will make a positive difference to amount you pay in banking charges.”

Retailer commission will be added to the Single Daily Settlement system in mid-November.

For more information about these changes, please Download the PayPoint Retailer Letter

Related content