Payzone Ireland sales fell by €8.1m to €162.8m in the year to the end of September 2015, however, the payment provider recorded an operating profit of €5.3m for the period.
This compared with a €3.2m profit in 2014.
In its last financial year the company, which is Ireland’s largest provider of multi-channel consumer payments, said financial services accounted for 30% of its transactions, with transport responsible for 24%, utility payments 25%, and mobile top-ups 21%.
Commenting on the results, Payzone Ireland CEO Jim Deignan said the 2015 results “illustrate the change in the company’s revenue mix and business strategy.
Mr Deignan said technological developments have helped to diversify Payzone’s offering, adding: “We now process over 65m transactions annually of which online transactions account for over 10%. Contactless card acceptance transactions are another strong driver of growth.”
Payzone owns one of the largest physical retail payments networks in the country with 11,500 points of sale across over 7,000 agents.
It distributes payments services and products on behalf of a broad range of clients, including government agencies, local authorities, utility companies, and mobile network operators.
Payzone, which was acquired by Carlyle Cardinal Ireland (CCI) in April last year, employs over 70 people based in its Sandyford head office in Dublin.
