Payzone has appointed Gary Jennison as managing director as it looks to reverse its falling sales.
Jennison joins with nine years' banking experience, most recently as CEO of Secure Trust Bank, and has worked in retail lending at Hitachi and GE Capital.
Jennison said he planned to return the company to growth by 2012 by expanding his sales team and looking for customers beyond its core base of convenience stores. Payzone's revenue dropped by £6.2m to £31.3m in the year to 30 September 2010, according to the most recent available accounts.
"Profits have been OK but that's been on the back of cutting costs my plan is to get the revenue line moving again," said Jennison. "In our core business of e-top-ups from mobiles and bill payments we've not really been pushing hard for new business. Now we will be and we are expanding the size of the team so this will change."
Payzone also plans to target its credit and debit card terminals at general independent retailers such as florists and hairdressers. "A lot of the terminals are direct from banks like Barclaycard and we think we can offer a better service," he said. "We would love to help them have a better deal and get a cheaper rate on line rentals and transaction fees."
Some 6,500 c-stores use Payzone's card terminals and Jennison said he was targeting an extra thousand retailers by the end of the year and recruiting 20 sales people for the push.
Outgoing MD Bill Thomson has left to "pursue other interests" after two years in the role.
Jennison joins with nine years' banking experience, most recently as CEO of Secure Trust Bank, and has worked in retail lending at Hitachi and GE Capital.
Jennison said he planned to return the company to growth by 2012 by expanding his sales team and looking for customers beyond its core base of convenience stores. Payzone's revenue dropped by £6.2m to £31.3m in the year to 30 September 2010, according to the most recent available accounts.
"Profits have been OK but that's been on the back of cutting costs my plan is to get the revenue line moving again," said Jennison. "In our core business of e-top-ups from mobiles and bill payments we've not really been pushing hard for new business. Now we will be and we are expanding the size of the team so this will change."
Payzone also plans to target its credit and debit card terminals at general independent retailers such as florists and hairdressers. "A lot of the terminals are direct from banks like Barclaycard and we think we can offer a better service," he said. "We would love to help them have a better deal and get a cheaper rate on line rentals and transaction fees."
Some 6,500 c-stores use Payzone's card terminals and Jennison said he was targeting an extra thousand retailers by the end of the year and recruiting 20 sales people for the push.
Outgoing MD Bill Thomson has left to "pursue other interests" after two years in the role.
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