Jim Deignan, Payzone

Payzone reports sales of €155.1m for 2016

Trade
Jim Deignan, Payzone

15 August 2017

Payzone Ireland has reported sales of €155.1 million for the 12-month period ended 30 September 2016, down 5% from €162.9 million in the previous financial year.

Jim Deignan, chief executive, Payzone, said: “During 2016, as expected, the reduction in mobile top-up sales continued, affecting gross turnover figures. However, the business performance, in terms of operating profit, was strong as we diversified further into customised payments solutions.

“Payzone’s recent acquisition of the EasyPaymentsPlus and MyEasyPay payment platform businesses demonstrates our continued development of the customised payments solutions business. As consumers conduct more transactions electronically we have seen an increase in online transactions, which now account for 12% of total Payzone transactions. This was one of the fastest growing sectors of the business during 2016.”

Payzone is Ireland’s largest provider of multi-channel consumer payments and owns one of the largest physical retail payments networks in the country with 11,500 points of sale across over 7,500 agents. It processes more than 90 million transactions annually across including mobile phone top ups, debit/credit card transactions; M50 motorway toll payments; Leap travel cards; parking fees; pre-paid utility; and parcel collection services.

In April 2015, Payzone was acquired by Carlyle Cardinal Ireland (CCI), the Irish private equity fund founded by The Carlyle Group and Cardinal Capital Group. The company employs more than 70 people based at its head office in Dublin.

Deignan added: “We will continue to look for further growth opportunities following the successful acquisition of EasyPaymentsPlus and MyEasyPay payment platform businesses. Our objective is to drive greater efficiency for clients and increased revenues for our retail partners through the delivery of innovative e-payment services, with a renewed focus on consumer payment solutions.”

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