We are delighted the Competition and Markets Authority has today (19 October) approved our plan to acquire Payzone’s bill payments business.
Together, this means customers will have around 25,000 Payzone and Post Office locations to pay their bills.
Debbie Smith, Chief Executive – Retail, said: “This is tremendous news for customers and for the business. Bill payments are a vital service, particularly for many vulnerable or elderly customers and people who don’t have online access so rely on paying their bills over the counter.
“By acquiring the Payzone bill payments business we will be better able to compete for new bill payment contracts too, bringing in more customers for Post Office branches and Payzone outlets alike.”
More than 500 million over-the-counter bill payment transactions took place across the UK last year. We’re excited about offering even greater choice and convenience to those customers.
What are the next steps?
We will now go ahead with completing the acquisition and start integrating Payzone Bill Payments Limited, which will operate as a subsidiary of Post Office Limited.
We will then be able to start the sales conversations with key bill payment clients and look to secure new customer footfall for the two networks.
So watch this space for more on this exciting announcement in the next few days once completion is confirmed.
If you have any questions in the meantime, please email firstname.lastname@example.org.