UK: PayPoint, Teya Announce New Partnership to Facilitate Cash Deposits

By MWorld Team Aug 30, 20240

PayPoint and Teya have partnered to launch a new service enabling Teya Business Account holders to deposit cash at over 29,000 PayPoint stores across the UK.

The service allows customers to conveniently add funds to their accounts by visiting a nearby PayPoint location. This partnership addresses the growing need for accessible cash services, particularly as bank branch closures continue to rise.

The process is simple and efficient, starting with the Teya App. Customers can generate a unique barcode for the desired deposit amount, which is then scanned by the PayPoint agent to complete the transaction. This new feature enhances Teya’s Business Account offering by providing an accessible and user-friendly cash payment solution for businesses.

The service reflects a significant improvement in cash management options for Teya customers. By leveraging PayPoint’s extensive network, the partnership ensures that businesses can deposit cash quickly and securely, without needing to visit a bank branch, thus offering greater convenience and support to business owners across the country.

Jo Toolan, Managing Director of Payments at PayPoint, said: “We are pleased to partner with Teya and offer a new level of convenience for its Account holders. We are always looking for innovate technological solutions that provide tangible operational benefits, such as saving time, and believe the new cash service offers an accessible financial solution to the needs of many local businesses and busy entrepreneurs across the UK.”

Siddhartha Ram, Product Director at Teya, said: “We are proud to meet the needs of our members by launching a new cash service linked to the Teya Business Account. We consistently hear from our members that cash sales remain important, and this new service empowers them to manage their cash easily and securely. We are pleased to partner with PayPoint, whose broad network of outlets provides fantastic convenience for our members across the UK.”