PayPoint and Lloyds Bank agree card partnership

PayPoint Group, a British payments provider, announced in a statement on Wednesday that Lloyds Bank would take the lead role as its primary "card acquiring partner" as part of an extended collaboration that is anticipated to fully debut in the third quarter of the year.

According to PayPoint, Lloyds' card payments company Cardnet would receive a "significant investment" as part of the arrangement.

The agreement will improve support for its small company and retailer customers by providing merchants with extended banking and card services that include card payments and a 12-month fee-free Lloyds business account, among other perks.

(Sources: investing.com)