Pay-as-you-earn loan scheme for retailers

By David Shrimpton in Industry News 22nd November 2021

Payment technology firm PayPoint has partnered with YouLend, a finance firm that helps retailers with funding that can be paid back as they earn from card sales.

PayPoint One screen in convenience store

The scheme is designed to free up funds enabling retailers to focus on growth, buy stock or simply assist with cash flow.

Instead of paying a fixed monthly repayment for loans, a small percentage of every card transaction is used to repay the funding, so that repayments will be in proportion to income from card sales.

Mark Latham, banking services director at PayPoint, said: “PayPoint have long been a champion of the UK convenience sector and this has become even more important as our retailer partners continue to adjust to the post-pandemic market.

“We want to ensure PayPoint retailers have the best possible flexibility and freedom in how they secure funding to respond to these evolving challenges.

“The flexible financing options, provided in partnership with YouLend, do exactly that by enabling retailers to opt for an alternative yet simple repayment option that can help free up funds to be used elsewhere.”