PayPoint is expanding its CashOut service from January 15 with the addition of a new client, the Department for Work and Pensions.
Barcode vouchers will be printed on a card or letter. They may also be shown in a text message or displayed as a barcode on the screen of a mobile phone. All methods are acceptable and will include a voucher number should the barcode fail to scan.
The transactions should be processed like any other CashOut transaction.
Customers may present multiple vouchers. Each CashOut transaction is limited to £100, so if a customer has £150 worth of vouchers retailers will be required to carry out two separate transactions (one for £100 and one for £50). Simply follow the instructions on the terminal and pay out the amount shown on the screen.
The usual commission is paid for every successful transaction, so a card with three vouchers on it will earn three commission payments.
Retailers should take note of the following:
- Before you start processing CashOut transactions, please follow the instructions on the voucher. Only ask for ID if the customer’s voucher requires it – this will be clearly marked on the customer’s voucher.
- Please ensure you have enough cash available.
- Each transaction is limited to £100, so more than one transaction may be required for the customer to collect their full payment.
- Always check the receipt to make sure the transaction was successful before handing over money to the customer.
A spokesperson for PayPoint said: “More CashOut transactions mean you’ll be paying out more cash and as a result, you will need to bank less money – helping you to reduce banking charges.”
