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PayPoint invests in Aperidata

PayPoint invests in Aperidata

British bill payment outfit PayPoint has made a £1 million investment in consumer and business credit reporting and open banking platform Aperidata.

The deal builds on an existing commercial partnership between the two companies delivering open banking-based income screening tools for clients across multiple sectors, including government, local authorities, charities and housing associations.

The two companies recently banded together on a system for Citizen’s Advice Stevenage, launching an open banking driven customer support tool that has cut the time spent by Debt Advisor’s gathering and reviewing financial information of individuals seeking help, from an average of three weeks per case to just minutes.

Nick Wiles, CEO of PayPoint says: “We’re delighted to be investing in Aperidata, which will further enhance our open banking solutions and multichannel payments platform for clients in multiple sectors. This investment will enable PayPoint to continue its diversification to digital and enable further growth in open banking, which is one of our key building blocks to delivering £100m EBITDA by the end of FY26.”

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