RCS - Manx Financial Group - Payment Assist reaches £1bn customer transactions

Manx FinancialAnnouncement

22/05/2026 12:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260522:nRSV4779Fa&default-theme=true

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/            Tony Gibbs/

                           James Biddle               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
(http://www.payment-assist.co.uk) .

 

About Reach announcements

 

This is a Reach announcement. Reach is an investor communication service aimed
at assisting listed and unlisted (including AIM quoted) companies to
distribute media only / non-regulatory news releases into the public domain.
Information required to be notified under the AIM Rules for Companies, Market
Abuse Regulation or other regulation would be disseminated as an RNS
regulatory announcement and not on Reach.

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAEANSAADXKEEA



            Copyright 2019 Regulatory News Service, all rights reserved