Post Office makes Payzone purchase

PAYZONE has been acquired by the Post Office in a deal that is expected to result in a combined network of close to 25,000 payment locations.

The deal, which is subject to Competition and Markets Authority approval,  is expected to give the Post Office the opportunity to compete for more and bigger bill payment contracts.

Debbie Smith, Post Office retail chief executive, said:

“This is an exciting move for the Post Office. Bill payments has always been a core part of our business. Over 500 million bill payment transactions are undertaken across the UK each year. We intend to grow our business and drive footfall to both Post Office branches and Payzone outlets by offering current and potential clients a network of nearly 25,000 outlets.”