Electronic Payments

This exciting development for the fast growing store expands Urban Industry’s online audience to include the important youth market and those who are reluctant or cannot transact online.

Eight million people in the UK have internet access but no means to buy online (Office of National Statistics), including people aged under sixteen, who have considerable buying power and above average internet penetration. A further eight million have credit or debit cards, but are reluctant to buy online (UK Payments Administration), creating a £15 billion opportunity for potential internet spend.

PayCash removes the final barrier to all consumers successfully transacting online. To purchase online using PayCash, customers simply select the PayCash option at the online checkout and print out their receipt, which will include a bar code. They then take the receipt to one of 22,000 local PayPoint community stores, where the merchant will scan the bar code and collect cash payment for the items from the customer.

Urban Industry, a youthful business on the cutting edge of street wear fashion, has worked to make its combined in-store and online business one of the strongest in the UK retail sector.

Michael Norton, managing director of PayPoint.net, said:

“PayCash delivers a reliable, sophisticated and safe e-commerce solution for UK businesses. Requiring neither user accounts nor bank details, PayCash completely eliminates the risk of fraud.

We believe PayCash is a game-changing development on a number of levels. By enabling the one in ten of us who don’t have bank accounts or payment cards to shop online, it will dismantle one of the last barriers in e-commerce. For consumers who have credit and debit cards, PayCash lets them keep their cards in their wallets and only spend what they can afford.”

Daniel King, Director of Urban Industry, said:

“As a dynamic and youthful business, we recognise the value of remaining on the cutting edge of online payment innovation. We decided to implement PayCash to increase sales by reaching out to our customers without debit or debit cards, building our brand loyalty, insuring against chargebacks, and adding another payment option with minimal to zero integration costs.”

PayCash is available from the PayPoint.net website (http://www.paypoint.net )

-ends-

For further press information please contact:

Tom Nutt/Lizzie Linton 020 7630 1411/07775 686 706
The Communication Group tnutt@thecommunicationgroup.co.uk

Notes to Editors:

About PayPoint

PayPoint.net is a subsidiary of PayPoint plc, the leading cash and internet payments company in the UK with operations also in Ireland and Romania.

• PayPoint.net is a leading bank-independent online payment service provider which operates one of the most comprehensive, secure and reliable payment platforms in the UK. PayPoint.net offers organisations of every size a fast start to trading online, supported by powerful fraud management capabilities and leading-edge security features.

• PayPoint plc handles nearly £9.3 billion from over 550 million transactions annually for more than 6,000 clients and merchants.

• The PayPoint branded retail network numbers over 22,600 terminals located in local shops (including Co-op, Spar, McColls, Costcutter, Sainsbury’s Local, One Stop, Londis and thousands of independents) in all parts of the UK and Ireland. Its terminals process gas and electricity meter prepayments, cash bill payments, mobile phone top-ups, transport tickets, London Congestion Charges, BBC TV licences and a wide variety of other payment types for most leading utilities, telecommunications suppliers and many consumer service companies

• PayPoint operates an ATM network which has over 2,300 ‘LINK’ branded machines across the UK, typically in convenience stores;

• PayPoint Romania, a branded national retail network of over 2,260 terminals located in local shops which process cash bill payments for all the major utilities and mobile top-ups and a further 3,500 terminals that process mobile top-ups only; and

• Collect+ is a joint venture with Home Delivery Network Limited to provide a parcel collection and drop off service at its retailers.

PayPoint floated on the London Stock Exchange in September 2004 and the company’s market capitalisation at 27 September 2009 was £318 million. PayPoint is widely recognised for its leadership in prepayment systems, smart technology and consumer service.