PayPoint's mobile phone deal helps boost revenue

PayPoint today said its move into mobile phone payments had helped revenue rise 7% between March and July.

The firm, whose services include bill payment terminals and ATM machines, made net revenue of £26 million from March 29 to July 25 after its takeover of PayByPhone, which allows motorists to pay for their parking by credit or debit card over their mobiles.

Bill payment, internet and retail services also grew in the period.

PayPoint said bill and general payment transactions were in line with its expectations. In Romania, it processed more than three million bill payments, up more than 200%.

Net cash at July 25 fell to £6 million from £15 million at March 28.