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| Company type | Private |
|---|---|
| Formerly LSE: PAYZ | |
| Industry | Financial services |
| Predecessor | Alphyra, ITG Group |
| Founded | 1989 |
| Headquarters | , |
Area served | Ireland |
Key people | Mike Maloney (Chairman), Jim Deignan (CEO), Nigel Bell (CFO). |
| Products | Payment Network, Cash acceptance, EFT, Online payments, ATM. |
Number of employees | 80 (2021) |
| Parent | Allied Irish Banks (AIB) and Fiserv (joint venture) |
| Website | www |
Payzone is an Irish consumer payment service provider company based in Dublin. The company processes electronic transactions, including debit and credit card transactions mobile phone top ups, M50 motorway toll payments, Leap travel cards, local property tax payments, pay-by-phone parking, pre-paid and bill pay utility and parcel collection services.[1][2]
Based in Sandyford, as of 2021[update], the company employed over 80 people in Ireland and is a subsidiary of a joint venture between Allied Irish Banks and Fiserv.
History
editThe company was founded in 1989 as ITG Group. It operated as ITG Group until 1999 and then operated as Alphyra (1999-2007) and was listed on the London Stock Exchange under ticker LSE: PAYZ.
By 2006, the Payzone Group had two businesses. A managed terminal network in the UK, Ireland, Sweden, Greece and Romania. Whose main services include mobile phone top-up, utility top-up, bill-payment solutions, electronic gift vouchers and electronic funds transfer processing. The second business was an independent white-label ATM's in the convenience sector in the UK and Germany.[3][4]
In 2010 the company was acquired by Duke Street Capital in a debt for equity deal,[5] Duke Street started the process of splitting up the business so that each business could focus on its own market.[3]
In 2014, the company sold its Swedish Business to Nets Group to focus on its other markets. The then CEO, Mike Maloney, said "we are pleased to be selling to such an accomplished player in the Nordic payments market. We will now continue to focus on growing Payzone Group’s business in other markets".[6]
In 2015 Duke Street Capital then sold Payzone to the investments company Carlyle Cardinal Ireland for €43.3m.[7][1][8][9]
In 2018 the UK payment side of the business was split off and sold to the UK post office company Post Office Limited, creating a separate entity Payzone (United Kingdom) that continues to use the same brand name in the United Kingdom but is no longer connected with Payzone Ireland.[10][11]
In 2019, the company was acquired through a joint venture between AIB and US company First Data, with the companies holding 75% and 25% respectively.[12][13][14] Later in 2019 First Data was acquired by Fiserv.
Products
editRetail services - Payzone provides terminals for customers can make payments for a variety of products and services such as mobile phone top ups, M50 motorway toll payments, Leap travel cards, a range of gift cards, local property tax payments, parking fees, pre-paid and bill-pay utilities, waste payments and parcel collection services. The Payzone terminals also support credit and debit card acceptance for goods and services that retailers can sell directly to their customers.
Credit and debit car processing - Payzone provides payment terminals to small to medium-sized businesses in the ‘general retail’ sector that allows those businesses to accept credit and debit card payments. Payzone's clients in the ‘general retail’ sector include beauty salons, clothing stores, restaurants, bars, car servicing and motor accessories outlets.
Online payments - Payzone provides service to retailers to process transactions online. Online payments processed include toll payments, prepaid electricity and transport ticketing.
Mobile payments - Payzone provides a mobile payment service via SMS, Mobile App and interactive voice response for Pinergy and Electric Ireland. Consumers can pay for services using their mobile phone and the payment is deducted from a previously registered credit/debit card. Payzone's owns and operates Parking Tag, a cashless parking service. This allows motorists to pay for parking in selected locations using their mobile phone. Parking Tag is available across Dublin and selected areas in both Wicklow and Laois.[15]
References
edit- ^ a b Taylor, Charlie (17 August 2016). "Payzone Pretax Profits Increase by over 60% as Company Rebalances". Irish Times – via HighBeam (subscription required) . Retrieved 25 July 2017.
- ^ "New cashless parking solution now available in Tullamore". Offaly Independant. 13 October 2024.
- ^ a b "Transforming Europe's largest consumer payments acceptance network". Duke Street Capital. 1 February 2010.
- ^ "Payzone adds services to drive footfall in convenience stores".
- ^ "Payzone cuts debt by sale of stake to Duke Street". City AM. 8 February 2010. Retrieved 25 July 2017.
- ^ "Payzone Sells Swedish Business". European Supermarket Magazine. 11 August 2014.
- ^ O'Donovan, Donal (10 March 2015). "Payzone sold by backers to private equity fund". Irish Independent. Retrieved 25 July 2017.
- ^ "Business Person of the Month - Mike Maloney, CEO, Payzone". Business & Finance. 26 March 2015.
- ^ Brennan, Joe. "Cardinal raises initial €175m for follow-on private equity fund". The Irish Times. Retrieved 4 March 2020.
- ^ "Post Office looking to buy Payzone's Bill payment business". Post&Parcel. 27 June 2018.
- ^ "Post Office cleared to acquire Payzone bill payments arm". Convenience Store. 22 October 2018.
- ^ "AIB and First Data's acquisition of Payzone gets regulatory green light". The Irish Times. 24 October 2019.
- ^ "AIB set to acquire Payzone through joint venture". Retail Banker International. 18 April 2019.
- ^ "Carlyle Cardinal sells Ireland's Payzone". Private Equity News. 23 April 2019.
- ^ "Solutions, for everyday life". Payzone (Ireland). Retrieved 17 October 2024.
Category:Payment service providers
Category:Financial services companies of Ireland
Category:Sandyford