PayPoint and Teya launch new service to facilitate cash deposits

By Gloria Methri

PayPoint and Teya have signed a partnership to launch a new service for Teya Business Account holders at PayPoint stores nationwide. Teya customers can now access a convenient cash payment service, adding funds directly into their business accounts at over 29,000 PayPoint stores across the UK.

The process is quick and initiated via the Teya App, where customers can deposit cash for a specified amount by generating a unique barcode. The PayPoint agent can then scan the customer’s barcode, facilitating a seamless and efficient transaction.

The innovative service is a significant enhancement to Teya’s Business Account offering and allows customers to take their cash conveniently to a location close to their premises. With the rise of bank branch closures, customers can now benefit from the widespread accessibility to cash services to put cash into their accounts.

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 innovative technological solutions that provide tangible operational benefits, such as saving time. We 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.”