Payzone (Ireland)

Last updated

Payzone Ireland
Company type Private
Formerly LSE:  PAYZ
Industry Financial services
PredecessorAlphyra, ITG Group
Founded1989;35 years ago (1989)
Headquarters
Dublin
,
Ireland
Area served
Ireland
ProductsPayment network, cash acceptance, EFT, online payments, ATM.
Number of employees
79 [1]  (2019)
Parent Allied Irish Banks (AIB) and Fiserv (joint venture)
Website www.payzone.ie

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. [2] [3]

Contents

As of 2019, the company employed approximately 80 people in Ireland. [1] Based in Sandyford, it is a subsidiary of a joint venture between Allied Irish Banks and Fiserv.

History

The 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. The first was a managed terminal network in the UK, Ireland, Sweden, Greece and Romania. Its main services included 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. [4] [5]

In 2010, the company was acquired by Duke Street Capital in a debt for equity deal, [6] Duke Street started the process of splitting up the business so that each business could focus on its own market. [4] By 2014, the had company sold its Swedish business to Nets Group. [7]

In 2015, Duke Street Capital sold Payzone to the investments company Carlyle Cardinal Ireland for €43.3m. [8] [2] [9] [10]

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. [11] [12]

In 2019, the Irish company was acquired through a joint venture between AIB and US company First Data, with the companies holding 75% and 25% respectively. [13] [14] [15] Later in 2019, First Data was acquired by Fiserv.

Products

Payzone's products and services include:

Related Research Articles

<span class="mw-page-title-main">Debit card</span> Card used for financial transactions, usually without a credit line

A debit card, also known as a check card or bank card, is a payment card that can be used in place of cash to make purchases. The card usually consists of the bank's name, a card number, the cardholder's name, and an expiration date, on either the front or the back. Many new cards now have a chip on them, which allows people to use their card by touch (contactless), or by inserting the card and keying in a PIN as with swiping the magnetic stripe. Debit cards are similar to a credit card, but the money for the purchase must be in the cardholder's bank account at the time of the purchase and is immediately transferred directly from that account to the merchant's account to pay for the purchase.

<span class="mw-page-title-main">EFTPOS</span> Type of Electronic Funds Transfer system

Electronic Funds Transfer at Point Of Sale, abbreviated as EFTPOS, is the technical term referring to a type of payment transaction where electronic funds transfers (EFT) are processed at a point of sale (POS) system or payment terminal usually via payment methods such as payment cards. EFTPOS technology was developed during the 1980s.

<span class="mw-page-title-main">Mobile payment</span> Payment services via a mobile device

Mobile payment, also referred to as mobile money, mobile money transfer and mobile wallet, is any of various payment processing services operated under financial regulations and performed from or via a mobile device. Instead of paying with cash, cheque, or credit card, a consumer can use a payment app on a mobile device to pay for a wide range of services and digital or hard goods. Although the concept of using non-coin-based currency systems has a long history, it is only in the 21st century that the technology to support such systems has become widely available.

<span class="mw-page-title-main">PayPoint</span> British business for paying bills

PayPoint plc is a British business offering a system for paying bills in United Kingdom, Ireland and Romania. It is listed on the London Stock Exchange.

<span class="mw-page-title-main">Laser (debit card)</span> Irish debit card scheme, 1996–2014

Laser was a debit card scheme in Ireland between 1996 and 2014.

<span class="mw-page-title-main">Fiserv</span> Provider of financial services technology to banks

Fiserv, Inc. is an American multinational company headquartered in Milwaukee, Wisconsin. Fiserv provides financial technology and services to clients across the financial services sector, including banks, thrifts, credit unions, securities broker dealers, mortgage, insurance, leasing and finance companies, and retailers.

<span class="mw-page-title-main">Verifone</span> Multinational point-of-sale equipment manufacturer

Verifone, Inc. is an American multinational corporation headquartered in Coral Springs, Florida. Verifone provides technology for electronic payment transactions and value-added services at the point-of-sale. Verifone sells merchant-operated, consumer-facing and self-service payment systems to the financial, retail, hospitality, petroleum, government and healthcare industries. The company's products consist of POS electronic payment devices that run its own operating systems, security and encryption software, and certified payment software, and that are designed for both consumer-facing and unattended environments.

First Data Corporation is a financial services company headquartered in Atlanta, Georgia, United States. The company's STAR Network provides nationwide domestic debit acceptance at more than 2 million retail POS, ATM, and at online outlets for nearly a third of all U.S. debit cards.

Merchant Account Providers give businesses the ability to accept debit and credit cards in payment for goods and services. This can be face-to-face, on the telephone, or over the internet.

<span class="mw-page-title-main">Electronic Payment Services</span> Largest electronic payment system in Hong Kong, Macau and Shenzhen

Electronic Payment Services, commonly known as EPS, is an electronic payment system based in Hong Kong, Macau, and with limited acceptance in Shenzhen since it began operations in 1985. The service is provided by EPS Company Limited which currently has over 30,000 acceptance locations.

<span class="mw-page-title-main">NETS (company)</span> Singaporean electronic payment service provider

Network for Electronic Transfers, colloquially known as NETS, is a Singaporean electronic payment service provider. Founded in 1986 by a consortium of local banks, it aims to establish the debit network and drive the adoption of electronic payments in Singapore. It is owned by DBS Bank, OCBC Bank and United Overseas Bank (UOB).

Merchant services is a broad category of financial services intended for use by businesses. In its most specific use, it usually refers to merchant processing services that enables a business to accept a transaction payment through a secure (encrypted) channel using the customer's credit card or debit card or NFC/RFID enabled device. More generally, the term may include:

Moneris is a Canadian financial technology company that specializes in payment processing.

<span class="mw-page-title-main">Euronet Worldwide</span> Electronic payments company

Euronet Worldwide is an American provider of global electronic payment services with headquarters in Leawood, Kansas. It offers automated teller machines (ATM), point of sale (POS) services, credit/debit card services, currency exchange and other electronic financial services and payments software. Among others, it provides the prepaid subsidiaries Transact, PaySpot, epay, Movilcarga, TeleRecarga and ATX.

<span class="mw-page-title-main">Pay at the pump</span> System used at filling stations

Pay at the pump is a system used at many filling stations, where customers can pay for their fuel by inserting a credit card, debit card, or fuel card into a slot on the pump, bypassing the requirement to make the transaction with the station attendant or to walk away from one's vehicle. A few areas have gas stations that use electronic tolling transponders as a method of payment, such as Via Verde in Portugal.

Worldpay Group plc was a payment processing company. It was formerly listed on the London Stock Exchange until 16 January 2018 when it was acquired by Vantiv. The combined company then took the name Worldpay, Inc. Worldpay, Inc. was acquired by FIS in July 2019 for $43 billion. In 2024, private-equity firm GTCR acquired a majority 55% equity interest in WorldPay.

<span class="mw-page-title-main">Rede S.A.</span>

Rede known as Redecard is a Brazilian multi-brand acquirer with 25 brands in its portfolio, for credit, debit and benefit cards. Its activities include merchant acquiring, capturing, transmission, processing and settlement of credit and debit card transactions, prepayment of receivables to merchants, rental of POS terminals, check verification through POS terminals, credit card machine and the capture and transmission of transactions using benefit-voucher, private-label cards and loyalty programs such as Multiplus. The company is the first largest in its sector. The company was traded in BM&F Bovespa and disclosed in September 24, 2012.

<span class="mw-page-title-main">Chase Paymentech</span> Payment processing company

Chase Paymentech is an American payment service provider and merchant acquiring business that is part of JPMorgan Chase. Paymentech payment platforms supports businesses to process payments. In addition to its payment services the company provides associated business services such as analytics, payment fraud detection, and data security.

Apple Pay is a mobile payment service by Apple Inc. that allows users to make payments in person, in iOS apps, and on the web. Supported on iPhone, Apple Watch, iPad, Mac, and Vision Pro, Apple Pay digitizes and can replace a credit or debit card chip and PIN transaction at a contactless-capable point-of-sale terminal. It does not require Apple Pay–specific contactless payment terminals; it can work with any merchant that accepts contactless payments. It adds two-factor authentication via Touch ID, Face ID, Optic ID, PIN, or passcode. Devices wirelessly communicate with point of sale systems using near field communication (NFC), with an embedded secure element (eSE) to securely store payment data and perform cryptographic functions, and Apple's Touch ID and Face ID for biometric authentication.

Payzone UK branded as Payzone is a British consumer payments acceptance network that has been part of the Post Office Limited since 2018.

References

  1. 1 2 Deegan, Gordon (26 August 2019). "Payzone profits up by 10% to €6.3m as company diversifies". Irish Times. Retrieved 17 October 2024.
  2. 1 2 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.
  3. ↑ "New cashless parking solution now available in Tullamore". Offaly Independent. 13 October 2024.
  4. 1 2 "Transforming Europe's largest consumer payments acceptance network". Duke Street Capital. 1 February 2010.
  5. ↑ "Payzone adds services to drive footfall in convenience stores".
  6. ↑ "Payzone cuts debt by sale of stake to Duke Street". City AM. 8 February 2010. Retrieved 25 July 2017.
  7. ↑ "Payzone Sells Swedish Business". European Supermarket Magazine. 11 August 2014.
  8. ↑ O'Donovan, Donal (10 March 2015). "Payzone sold by backers to private equity fund". Irish Independent. Retrieved 25 July 2017.
  9. ↑ "Business Person of the Month - Mike Maloney, CEO, Payzone". Business & Finance. 26 March 2015.
  10. ↑ Brennan, Joe. "Cardinal raises initial €175m for follow-on private equity fund". The Irish Times. Retrieved 4 March 2020.
  11. ↑ "Post Office looking to buy Payzone's Bill payment business". Post&Parcel. 27 June 2018.
  12. ↑ "Post Office cleared to acquire Payzone bill payments arm". Convenience Store. 22 October 2018.
  13. ↑ "AIB and First Data's acquisition of Payzone gets regulatory green light". The Irish Times. 24 October 2019.
  14. ↑ "AIB set to acquire Payzone through joint venture". Retail Banker International. 18 April 2019.
  15. ↑ "Carlyle Cardinal sells Ireland's Payzone". Private Equity News. 23 April 2019.
  16. ↑ "Solutions, for everyday life". Payzone (Ireland). Retrieved 17 October 2024.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.