Universe Group plc (AIM: UNG.L), a leading developer and supplier of point of sale, payment and on-line loyalty systems, has signed an agreement with NetPay Merchant Services Limited (“NetPay”) to offer their acquiring and on-boarding solutions to the Group’s retail clients.
Through its subsidiary HTEC, Universe already provides payment devices for both in-doors and outside, as well as payment processing solutions. Increasing consumer conversion from cash to card is now driving more widespread adoption of merchant services and through this agreement, the Group will be able to offer clients competitive transaction processing rates via NetPay’s First Data merchant application and fast, efficient on-boarding, thus making it a one-stop shop for all payment transactions.
In addition, the combined offering gives retailers access to further real-time payment related analytics allowing them to make more informed decisions. The first clients are expected to be onboarded in May.
Jeremy Lewis, Chief Executive of Universe Group plc, commented:
“This agreement complements and broadens our existing payment services, allowing us to be the single payment counterparty for our retailers. We have been impressed with NetPay’s platform which ensures quick and easy on-boarding and access to competitive payment processing fee rates, which are vital to our retailers and are important extensions to our other payment, EPOS and loyalty offerings.”
Carl Churchill, Co-Founder and Chief Executive of NetPay, said:
“HTEC have an impressive product offering and material market share in the convenience and fuel forecourt markets making them ideal partners for us in this space. Both companies share the same client service ethos and our joint offering now means that together we can meet the payment needs of retailers of all sizes across the sector.”