PayPoint Announcements

Acquisition

26 February 2007 10:08:09

PayPoint PLC
26 February 2007
26 February 2007

PayPoint announces acquisition of SECPay Limited, an internet payment service
provider.

PayPoint plc, a leading cash and internet payments group, announces that it has
acquired SECPay Limited, an internet payment service provider ('PSP') for a net
purchase consideration of £12 million, payable in cash to the shareholders.

SECPay is a fast-growing processor of real-time card payments for goods and
services bought over the internet. It offers over 3,500 web merchants a gateway
into their choice of any UK acquiring bank for authorising debit and credit card
transactions. In the year ended 30 June 2006, SECPay's revenue and profit before
tax and interest, were £1.9 million and £0.3 million respectively. The service
complements that of PayPoint's existing PSP subsidiary Metacharge, which works
with selected acquirers only and offers settlement and risk management services
in addition to an authorisation gateway.

Dominic Taylor, Chief Executive of PayPoint, said: "SECPay enhances our position
in the rapidly growing internet payments market and complements our recent
acquisition of Metacharge. We now have a full range of payment processing
services to offer internet merchants and a significantly larger merchant base."

Enquiries
Finsbury 020 7251 3801

Rollo Head
Don Hunter
About PayPoint
PayPoint is a leading branded payment collection network used, primarily, for
the cash payment of bills and services and prepayments for mobile telephones and
energy meters. There are over 16,000 retail outlets using PayPoint's payment
terminals.

PayPoint began trading in 1996 and initially collected payments through its
network of retail agents for its founder client investors, who included British
Gas, BT, BBC TV Licensing, London Electricity (now part of EDF Energy) and four
water companies.

Clients include many of the UK and Ireland's major energy, cable, mobile and
fixed line telephony companies. PayPoint's blue chip client list also extends to
numerous water companies, local authorities and housing associations and a
growing transport and travel base.

In November 2006, PayPoint entered the internet payments market through the
acquisition of Metacharge Limited.

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