Cutting-edge collaboration good news for Cardstream and PayPoint

Cutting-edge collaboration good news for Cardstream and PayPoint

Leading financial services business Cardstream and multichannel payments provider PayPoint Plc (PayPoint) have officially announced their collaboration.

The powerful partnership sees PayPoint integrating Cardstream’s Gateway Connectivity into their MultiPay digital payments platform, which will allow it to continue to build a robust and scalable solution for clients.

Respectively, Cardstream is also onboarding the Confirmation of Payee (CoP) service for its automated onboarding processes, which is an industry-wide account name checking service for UK-based payments, developed and owned by Pay.UK and offered by PayPoint as part of their Open Banking solutions.

Cardstream’s cutting-edge payment gateway will give PayPoint a competitive advantage due to a host of features and benefits that include the option to offer alternative payment methods – to meet the consumer demand for new ways of paying for products and services – acquirer independence, as you can white label the service, and deep security and fraud protection.

Adam Sharpe, who is CEO at Cardstream, comments: “The collaboration with PayPoint is another positive milestone on our journey as a leading force in the payments industry – working with partners to ensure we are both the best we can be by offering solutions that are at the vanguard of the sector. This is a relationship that has strong foundations, and we look forward to building on it going forward.”

Jo Toolan, Managing Director, Paymentsfrom PayPoint, comments: “We’re delighted to be partnering with Cardstream to expand the range of digital payment solutions delivered via our MultiPay platform. Our expanding range of clients want to give their customers choice and flexibility in how they pay, and this partnership strengthens the service delivered by our market-leading payments platform.”

Cardstream is known globally for its collaboroative approach, having also created the Open®Payment Network (OPN®), an organically expanding network of diverse Partners, who enjoy full access to the company’s cutting-edge IP and are supported in becoming successful competitors in an ever-expanding marketplace.

The Cardstream Group – comprising Cardstream, OBN, Hexobox (the AI ‘brains’) and QED Verify (ID validation in 120 seconds) – has experienced year-on-year revenue growth, with a 46% projected uplift for 2024, based on a bulging order book.

Cardstream also has a back catalogue of recent achievements such as the launch of its PayFac as a Service (PFaaS) last year, which was a European first.               

About Cardstream

Cardstream is a leading force in the payments services industry, seamlessly integrating onboarding verification and management, payment connectivity and gateway, transaction monitoring and routing, payment facilitation and acquiring into the new singular and dynamic brand that is Cardstream. At its core, Cardstream functions as the ‘engine inside’ the payment ecosystem, driving forward with a mission to simplify, secure, and accelerate financial transactions for businesses worldwide.

As a PCI DSS Level 1 independent payments gateway, Cardstream’s Open® Payment Network spans over 120 countries, connecting over 400 Acquirers, Payment Methods, Fraud Mitigation and Commerce platforms.

This ensures support for a broad spectrum of currencies and major card schemes, tailored to meet the needs of more than 140 Reseller Partners and their merchants. By offering a full-stack payments services suite, Cardstream empowers clients with customised, white-labelled solutions, providing unprecedented operational efficiency and market agility.                            

ABOUT PAYPOINT GROUP

For tens of thousands of businesses and millions of consumers, we deliver innovative technology and services that make life a little easier.

The PayPoint Group serves a diverse range of organisations, from SME and convenience retailer partners, to local authorities, government, multinational service providers and e-commerce brands. Our products are split across four core business divisions:

• In Shopping, we enhance retailer propositions and customer experiences through EPoS services via PayPoint One, card payment technology, Counter Cash, ATMs and home delivery technology partnerships in over 60,000 SME and retailer partner locations across multiple sectors. Our retail network of over 28,000 convenience stores is larger than all the banks, supermarkets and Post Offices put together
• In E-commerce, we deliver best-in-class customer journeys through Collect+, a tech-based delivery solution that allows parcels to be picked up, dropped off and sent at thousands of local stores
• In Payments and Banking, we give our clients and their customers choice in how to make and receive payments quickly and conveniently. This includes our channel-agnostic digital payments platform, MultiPay, offering solutions to clients across cash, card payments, direct debit and Open Banking. PayPoint also supports its eMoney clients with purchase and redemption of eMoney across its retail network.
• In Love2shop, we provide gifting, employee engagement, consumer incentive and prepaid savings solutions to thousands of consumers and businesses. Love2shop is the UK’s number one multi-retailer gifting provider, offering consumers the choice to spend at more than 140 high-street and online retail partners. Park Christmas Savings is the UK’s biggest Christmas savings club, helping over 350,000 families manage the cost of Christmas, by offering a huge range of gift cards and vouchers from some of the biggest high street names, including Argos, Primark and B&M.

Together, these solutions enable the PayPoint Group to create long-term value for all stakeholders, including customers, communities and the world we live in.