Investors in PayPoint, the computerised utility bill payment system launched yesterday, are considering floating the business on the stock market when the company completes its investment programme.
The news emerged as the first computer terminals started operations, allowing customers who normally settle their bills in cash an alternative payment system to the Post Office or the high street banks. PayPoint is targeted at six million households which pay some or all of their utility bills in cash, with many on pre-payment meters.
The aim is to provide a PayPoint terminal no more than a mile from any household in urban areas or within five miles in rural communities. Customers hand over the cash and are given a receipt, which utility companies accept as proof of payment.
Source - The Independent