PayPoint has signed an agreement to acquire RSM 2000 in a bid to bolster its MultiPay digital payments portfolio.

Founded in 1999, RSM 2000 is an UK-based electronic payment service provider. The company offers different digital payment solutions such as Direct Debit processing, card and text payments and mobile event payment solutions.

The acquisition will enhance MultiPay digital payments portfolio by adding in-house Direct Debit capability and new mobile payment products.

It will also help PayPoint to cater to new sectors, such as charities, not-for-profit and events.

PayPoint CEO Nick Wiles said: “Our acquisition of RSM 2000 is the latest step in the acceleration of our strategic delivery, significantly enhancing our digital payments capability and enabling reach into new sectors, such as charities and events.

“This strengthens PayPoint’s position further to take advantage of the trends that have accelerated over the past year due to Covid-19, particularly the continued shift from cash to digital payments. I’m delighted to be welcoming the RSM 2000 team to the PayPoint Group, bringing a wealth of expertise from their 20 years in digital payments.”

RSM 2000 managing director Nigel Walters said: “I’m incredibly proud of the business we’ve built, providing innovative digital payments solutions to clients in a diverse range of sectors.

“I believe we’ve found the right home in the PayPoint Group to take us to the next stage of our growth and benefit from the scale, expertise and market leadership that they have built in omni-channel payments and technology over the last 24 years.”

Subject to regulatory approvals, the deal is slated to close in the first quarter of 2021/22 financial year.