The Board of PayPoint Plc (LON:PAY) today announced that it has taken the decision to simplify the business through a reorganisation into four business units: Network Services, Digital Payments and Open Banking, Love2shop and Merchant Services.

This reorganisation will establish four business units of scale, with clearly defined operating structures, a greater focus on growth opportunities with a more accountable operating culture. This will enable a more focused portfolio of businesses and lead to a better harnessing of the Group’s collective capabilities, strengthen execution and go-to-market strategy with better defined areas of co-operation, cost savings, synergy and opportunity between business units to drive growth.

Consistent with this reorganisation is a fundamental review of the Group cost base which will lead to an unlocking of cost savings and enable reallocation of investment with a renewed focus on driving enhanced shareholder returns.

The Group has made significant progress on its transformation journey over the past five years, assembling additional capabilities and opening up a range of new opportunities. The next stage now is to convert these gains into meaningful and sustained growth through strong operational delivery – realising the full potential of the Group.

Consistent with the more transparent and accountable operating culture underpinning this reorganisation, each of the four business units will have clearly defined financial metrics and KPIs. The Group will also provide investors with enhanced insight from the wealth of data available particularly with respect to Network Services.