British payment operator PayPoint sells Romanian operations

Thursday 22 October 2020 14:49 CET | News

The UK-based cash and online payment operator PayPoint has announced it will sell its Romanian subsidiaries PayPoint Services and PayZone to the investment fund Innova Capital.

The company said it sold its Romanian operations to focus on the core markets in the UK in line with its strategy. In Romania, PayPoint officially launched its own-brand cash payment service in August 2008 and expanded its customer portfolio by partnering with several companies in various sectors.

Currently, the company has contracts with 165 customers in telecommunications, utilities, financial services, and more. In the financial year ended March 31, 2020, PayPoint Romania generated revenues of GBP 69.7 mln (EUR 77 mln), an operating profit of GBP 7.3 mln (EUR 8.1 mln), and a pre-tax profit of GBP 6.8 mln (EUR 7.5 mln). 

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Keywords: PayPoint, PayPoint Services, Payzone, PayPoint Romania, acquisition, Innova Capital, online payments, online payment operator, United Kingdom, UK
Categories: Payments & Commerce
Countries: Romania, United Kingdom
This article is part of category

Payments & Commerce