12 Jun 2007


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Payzone to supply into SPAR's £165m electronic payment network


Spar

Source : Payzone
Payzone, the largest cash acceptance network in Europe, has signed an agreement with SPAR (UK) Limited, the largest convenience retailer in the UK to provide mobile top-up, utility and bill payments to SPAR's 2,700 outlets with immediate effect.

SPAR's airtime sales account for approximately 4% of the total airtime market with estimated sales at £165 million, the equivalent of 18 million transactions. payzone will initially be targeting 100,000 transactions per week from the SPAR agreement.

payzone's retail-friendly network of electronic payment terminals is the most extensive cash acceptance network in Europe, providing considerable economies of scale and allowing a lower cost base. This in turn enables payzone to provide retailers with competitive margins.

Cash acceptance networks like payzone, operate and manage electronic payment terminals in retail outlets. The electronic networks can be used for purchasing mobile phone top-up, gift cards and settling utility bills and council tax payments. The phenomenon is well established in the US and has a strong and rapidly expanding following in the UK and Europe. The UK pre-paid mobile phone market alone was valued at £4.2 billion in 2006.

Commenting on the agreement, Paul Charmatz, Deputy Managing Director of payzone said:
"payzone is proud to partner SPAR the leading retailer in this sector. payzone's operational efficiency, allows it to pass onto retailers the unrivalled benefits of using its cash acceptance network. payzone is committed to changing the paradigms of commissions earned by retailers selling mobile top up and bill payments via cash acceptance networks.

Chris Lewis, Licensed Trading Director of SPAR, commented: "SPAR is pleased to announce an agreement with payzone and look forward to the benefits it will bring to both our retailers and our customers. This agreement will enable us to better focus on the development and delivery of electronic service, which is a fundamental part of SPAR's future development."

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