PayPoint has launched a credit and debit agreement with Lloyds TSB which aims to ensure retailers get the best deal on credit and debit card payments. The deal means retailers pay a maximum of 1.4% on credit card payments and 14p on debit cards.

According to the company, credit and debit card users spend more money in-store than cash customers, and retailers who offer this service usually see an increase in basket spend. Retailers can also benefit by saving on banking costs as less cash needs to be banked.

PayPoint retail director Mike Igoe said: "These new rates are PayPoint’s best ever and we encourage our retailers to take advantage of this highly competitive offer."

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