Payzone is set to receive a multimillion-pound cash injection from its owner Duke Street Capital as it looks to drum up new business from electronic bus ticketing, football pools and debt collection.
MD Gary Jennison said the company was exploring new types of payments via its terminals in grocers because business from mobile top-ups was in steep decline and slim margins from utilities were being squeezed further.
A service to pay loan companies would reduce overheads by taking thousands of door-to-door debt collectors off the street, Jennison said.
Payzone has also launched a service to allow doorstep debt collectors to pay their cash takings into a Payzone retailer, which it said would cut banking costs and improve their personal security.
Jennison said he also saw a big opportunity in smart ticketing. Oyster-style tickets are set to be adopted outside London after millions of pounds of government investment to install touch-in touch-out readers on buses. “There are 400 million transactions on buses outside London. In the next 12 to 18 months we can see this becoming a big footfall driver for retailers,” Jennison said.