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PayPoint subject to dual viral effects

PayPoint subject to dual viral effects

For a specialist service provider like PayPoint (PAY), the accelerated move away from cash payments during the time of coronavirus has had dual effects. ATM transactions and parcel volumes may have contracted sharply, but card payments were up by around three-quarters from the beginning of April through to 17 May. Consumers have become apprehensive about the health threat posed by handling filthy lucre, while transaction volumes have been hit by the enforced closure of non-essential retail stores.

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