The acquisition has been completed following approval from the Competition and Markets Authority. Payzone Bill Payments Limited will now operate as a subsidiary of Post Office Limited.
There are no plans to change the Payzone brand – Payzone employees, outlets and retailers will remain as such.
Post Office and Payzone together now have around 25,000 locations for customers to pay their bills. So it’s great news for customers and a fantastic opportunity for both networks to grow their business. Look out for more news on that soon.
Debbie Smith, Post Office's Chief Executive – Retail, said:
"We’re thrilled to welcome Payzone’s Bill Payments team to the wider Post Office family. Bill payments are a vital service for customers, particularly for many vulnerable or elderly customers and people who don’t have online access so rely on paying their bills over the counter."
"Teaming up with Payzone means together we are now in an even stronger position to compete for new bill payment contracts, helping to bring in more customers for Post Office branches and Payzone outlets alike."
Andrew Goddard, previously Payments Director at Post Office, becomes Managing Director of Payzone Bill Payments Limited. Andrew said:
"After leading on this strategy and achieving the initial exchange of contracts with Payzone in June, I’m really excited we can now start fulfilling the opportunities this brings."
"I’m looking forward to leading a fantastic team alongside a hugely motivated and talented Post Office team, and working with our clients and retailers to provide an even better service to the customers who rely on us."
"We will start discussions right away with existing and new clients, both to gain new business and to enable existing bill payment customers to pay at either network as soon as possible."
Clive Kahn, Payzone's CEO, said:
"The two businesses are phenomenally complimentary and represent a great fit. Payzone Bill Payments becoming part of the Post Office group means they will be able to offer even greater choice and convenience to their customers. The transaction is the best thing for our customers, our merchants and our staff."
You can hear more from Debbie, Andrew and Clive below.
If you have any enquiries about the recent acquisition, don't hesitate to get in touch.
If you are a Payzone Bill Payments retailer, you can contact our customer support team on 01606 566 600.
If you are a client or partner of Payzone Bill Payments, you can contact our Products Team:
Transport and Ticketing - firstname.lastname@example.org
Utilities and Bills - email@example.com
Mobile and Gaming - firstname.lastname@example.org
For any press enquiries, please contact:
Post Office Press Office
Tel: 020 7012 3456 or 07436 038445