The ability to make small payments on a regular basis at convenient local shops makes PayPoint an ideal solution for banks and finance companies seeking more efficient and cost-effective methods of collecting loan repayments, leasing charges and arrears.

PayPoint’s turnkey technologies and infrastructure for the acceptance of bar-coded bills and magnetic strip swipe cards through its terminals in retail outlets can be deployed quickly and efficiently for Romanian banking and financial institutions.

Allianz-Tiriac Insurance, GE Money, EOS KSI Romania and Citibank Romania are already working with PayPoint in Romania whose retail outlets can now accept payments of insurance bills by reading their bar-coded. This turnkey solution is also readily available for other banks and finance Romanian companies.

PayPoint provides the ideal solution for the collection of regular payments because people prefer to pay locally. Independent research carried out in Romania for PayPoint in 2006 clearly confirmed consumers’ strong desire for more convenient ways to make regular payments without having to take time to travel to distant payment offices or wait in line for long periods. By being able to pay at their local food store at times to suit their lifestyles, consumers are also more likely to make timely payment, thus reducing expensive credit control activity levels.