Consumer payments network, Payzone UK, is launching a new service, which will allow consumers to pay debts, join savings clubs or make holiday payments through its existing merchants.
According to the company, the Payzone Collect service is the UK’s first alternative cash payment network.
Described as a full end-to-end service, Payzone Collect includes the creation and distribution of co-branded Payzone Collect Cards and provision of a Daily Transaction File (DTF) to monitor all payments and transactions.
The service will be available on all existing Payzone terminals and Payzone merchants will earn significant commissions, said the company.
Payzone said the Payzone Collect will provide a convenient way for consumers to manage their money, attracting new and existing customers who either don’t have a bank account facility or want a simple way to make regular payments and build savings.
Debt collectors can also use the service to pay any doorstep cash collected into a local Payzone retailer, emptying their pockets, which increases personal security and reduces banking costs, the company said.
Gary Jennison, managing director of Payzone UK, said: “We’re always looking to add services to the Payzone terminal that will most benefit Payzone retailers. Payzone Collect enables organisations to receive money quickly and easily from debtors and savers. We are excited about launching this service as we believe it will attract many customers into our retailers’ stores, helping them increase footfall and revenue.”
Claire Sandbrook, CEO of debt collectors, Shergroup, said: “We’re delighted working with Payzone has opened up a new payment channel for people in debt and who we need to collect from.
“Our newly designed Payment Card will help our customers in our legal and enforcement divisions, who have outsourced debt to us for collection. In turn we think this new payment channel will encourage their debtors to pay us so we can offer even better payment results to our customers. The convenient location of Payzone terminals makes them highly accessible for everyone which is a real benefit.
“It’s essential we work to create more payment options for people in debt particularly in our role as High Court Enforcement Officers, where we have a responsibility to the public to enforce judgments against them. We’re looking forward to seeing how Payzone Collect develops.”