Payment Assist reaches £1bn customer transactions

Manx Financial

22/05/2026 12:00

RNS Number : 4779F

Manx Financial Group PLC

22 May 2026

 

FOR IMMEDIATE RELEASE                                                                                   22 May 2026

 

 

Manx Financial Group PLC

(the "Group")

 

Payment Assist reaches £1 billion customer transactions

 

Manx Financial Group PLC (AIM: MFX), the holding company providing diversified financial services to the Isle of Man and the United Kingdom, is pleased to announce that its wholly owned subsidiary, Payment Assist Limited ("Payment Assist"), has surpassed £1 billion in customer transactions since its launch in 2013.

 

Payment Assist, supports motorists in spreading the cost of essential vehicle repairs, helping to keep vehicles safe and roadworthy. Payment Assist operates in partnership with over 8,000 garages, workshops, tyre fitters and dealerships nationwide, and provides interest-free finance across a range of motoring services, including MOTs, vehicle servicing, tyres and essential repairs. Repayments are structured through simple and transparent equal monthly instalments.

 

The achievement of this milestone reflects Payment Assist's continued growth and its commitment to supporting motorists in maintaining their vehicles. Flexible finance solutions are becoming increasingly important in enabling customers to undertake essential repair work without delay, particularly in the context of ongoing cost of living pressures.

 

Industry data suggests that 10,000 vehicles failed their MOTs in 2024, while 13,000 motorists were prosecuted for driving unsafe vehicles during the same period. Payment Assist continues to support drivers in addressing necessary maintenance and avoiding the unintended consequences of deferred repairs.

 

Marcus Gregory, Chief Executive Officer of Payment Assist, commented:

"Reaching £1 billion in customer transactions represents an important milestone for Payment Assist and reflects the continued demand for flexible, interest-free finance solutions. In the current cost of living environment, there is a risk that essential vehicle repairs are deferred, which can lead to increased safety concerns and higher costs over time. Our offering provides a straightforward way for customers to manage these costs, supporting timely maintenance and helping to keep vehicles roadworthy."

 

Douglas Grant, Group CEO, commented:

"This milestone is a strong endorsement of Payment Assist's position within the Group and the disciplined execution of its growth strategy. It demonstrates the strength of our diversified model and our focus on building sustainable, value-accretive businesses for shareholders."

 

For further information, please contact:

 

Manx Financial Group PLC
Beaumont Cornish Limited
Shore Capital
Tavistock Communications Limited
Denham Eke
Roland Cornish/
James Biddle
Tony Gibbs/
Oliver Jackson
Simon Hudson/
Adam Baynes
Tel: +44 (0) 1624 694694
Tel: +44 (0) 20 7628 3396
Tel: +44 (0) 20 7408 4090
Tel: +44 (0) 20 7920 3150
mfg@tavisock.co.uk

 

About Manx Financial Group PLC

 

Manx Financial Group (AIM: MFX) is a diversified UK banking and financial services group with a proud Manx heritage. The Group holds Isle of Man and UK banking licences, allowing it to provide flexible funding solutions across both territories focused on SME lending. Knowledge of the SME sector has enabled MFX to build a portfolio of valuable subsidiaries, from start-ups to selective and accretive acquisitions, which are creating significant value for shareholders. These entrepreneurial subsidiaries are grouped under our entrepreneurial subsidiary Manx Ventures Limited.

 

About Payment Assist

 

Payment Assist is a wholly owned subsidiary of Manx Financial Group PLC (AIM: MFX), an AIM-listed financial services group that also owns banking subsidiary Conister Bank Limited. Payment Assist is regulated by the Financial Conduct Authority and provides a range of payment solutions, including interest-free Buy Now, Pay Later (BNPL), regulated lending in the aftersales market, business lending and card processing.

 

For more information about Payment Assist and its market-leading range of flexible finance solutions, visit www.payment-assist.co.uk.

 

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