DUBLIN: Payzone Ireland, which provides multi-channel consumer payments including debit and credit card transactions and mobile phone top-ups, has reported an operating profit of €5.3 million for the year ended September 2015, up from €3.2 million a year earlier despite a drop in sales to €162.8 million from €170.9 million.
The company said the results, detailed in accounts recently filed with the Companies Registration Office, showed the impact of the continued diversification of its channel mix and revenue base.
“Through ongoing technology developments we have successfully diversified into a wider range of customised payment solutions, financial services and channels which have improved our overall business performance,” chief executive Jim Deignan said. “We now process over 65 million transactions annually of which online transactions account for over 10 per cent. Contactless card acceptance transactions are another strong driver of growth”.
Payzone, which was acquired by Irish private equity fund Carlyle Cardinal Ireland in April 2015, said financial services card acceptance accounted for 30 per cent of transactions last year followed by transport-related transactions at 24 per cent, utility payments at 25 per cent and mobile top-ups at 21 per cent.
