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UK cash and online payment leader PayPoint enters Romanian market

PayPoint Co., the cash and online payment leader in the United Kingdom, has entered the Romanian market, following a two-year study of opportunities in Central and Eastern Europe.  The study highlighted the fact that 95 percent of Romanian consumers pay their electricity, gas, fixed and mobile telephone, internet and TV cable bills in cash, Business Standard daily reads on Friday.

'Romania met all the requirements for expansion: it is a country with 22 million inhabitants, or some 8 million households, and most utility bills are paid in cash,' according to a statement given to Business Standard by Dominic Taylor, CEO of the British company.

He went on to say that the Romanian market has a potential for 600 million transactions, in bill payment and electronic phone card charging, higher than the transactions processed by PayPoint in the United Kingdom in the past fiscal year, which ended on 30 March 2008.

In 2007, PayPoint paid the RTC group some 16 million euros for PayStore, Romanian mobile telephone prepaid service leader.

PayStore administered a network of 4,000 electronic card charging points, of which the new investor has chosen 1,000 points nationwide where Romanians will be able to initially pay their Distrigaz Sud (gas supplier), UPC (cable TV), Romtelecom (fixed telephone), and Zapp (mobile telephone) bills, in addition to recharging their mobile phone cards, regardless of the operator.

In the future, the PayPoint's services will allow Romanian consumers to pay all their utility bills at a single point, at no additional cost. To this end, the company engaged negotiations with electricity suppliers.

As well, according to Dominic Taylor, the company approached the authorities in order to introduce on the list of services the payment of the local taxes.

PayPoint officials estimate that, up to March 2009, the collecting point network, formed of district stores, gas stations or pharmacies, with a longer functioning program, both in the urban and rural areas will be boosted by 150 percent so that it will rise up to 2,500 units.

Sursa: http://www.actmedia.ro

Tags: romanian market paypoint leader payment

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