PayPoint has exceeded its initial target for roll out of the next generation PayPoint One platform, while the new epos-equipped version is now installed in 224 stores.

PayPoint One is now in operation in 9,026 stores, with the target of 8,000 by the end of March 2018 having already been met.

Chief executive Dominic Taylor said it was “early days” for the PayPoint One Pro epos version, but the group would be looking to promote the platform across Nisa and Booker, with whom it has agreed network integration.

PayPoint has also confirmed it intends to retire the yellow terminal from December 2019, until when it will commit to maintaining the current service fee. 

Taylor also said the trials of its new ‘cash over the counter’ service, in partnership with LINK, would look to address questions over security and cash handling. The trials will take place this summer at 15 locations, which are yet to be announced.

PayPoint’s net revenue for the year ending 31 March grew by 1.8% to £119.6m, but pre-tax profit dropped by 0.8% to £52.9m.

Its latest preliminary annual results also revealed that card payments processed across its retail platform grew by 4.9% to 94.5 million payments, driven significantly by contactless.

Its Collect+ parcel collection service processed 23.4 million parcels over the course of the year, an increase of 2.0%.