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:

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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. Retrieved 25 July 2017– via Highbeam.
  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.
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