Pay.UK and PayPoint enable government cost-of-living support payments to the financially vulnerable
Pay.UK today announces that PayPoint has joined the Confirmation of Payee name-checking service. This will extend the offering to PayPoint’s local government and energy company customers to enable the delivery of cost-of-living support payments to more financially vulnerable people across the UK.
Financially vulnerable groups are more likely to pay bills by cash and cheque and are at greater risk of missing out on support payments paid directly to an account. COP provides an easy way for government to check that funds are sent to the right place, ensuring that vulnerable users, who may not have already registered their bank details, get funds quickly, safely and efficiently.
The new service will cover energy rebate and council tax returns to help deliver the government support package announced by ministers in May 2022 in response to the impact of rising prices being faced by UK households.
PayPoint’s participation in Confirmation of Payee, which has processed over a billion transactions to date, will enable greater choice in payment methods so that people who most need the support can receive it through different platforms, without compromising the safety and security of the transaction.
By welcoming PayPoint in joining the other major UK banks and building societies already offering Confirmation of Payee services Pay.UK is helping to ensure that payments are directed to the correct accounts, helping avoid administrative mistakes and fraud so urgently needed cost of living payments reach more people.
Dougie Belmore, Chief Payments Officer of Pay.UK said: “Giving people more choice in the way they pay and are paid is part of Pay.UK’s purpose. And as PayPoint’s joining of Confirmation of Payee shows, this choice can bring very real benefits for people in need. Facilitating greater access to cost-of-living support for those who might otherwise miss out is a vital achievement and Pay.UK will continue expanding Confirmation of Payee so it is primed to help tackle the evolving financial challenges many consumers may have to face.”
Nick Wiles, Chief Executive of PayPoint, said: “We’re delighted to be working with Pay.UK on expanding the use of Confirmation of Payee and helping local government and energy companies make sure that important support payments reach the people who need them. This move further enhances our channel-agnostic payments platform, ensuring we can continue to support our clients and their customers with smart technology designed to improve their experience and reduce costs.”