Bill payments are an important part of the Post Office’s retail offer and provide a valuable over-the-counter service to customers, generating footfall across the Post Office's branch network.
With over 500 million bill payment transactions across the UK last year, the bill payments market presents the Post Office with a strong growth opportunity. The acquisition of the Payzone bill payments business allows the Post Office to provide its customers with access to a combined network of nearly 25,000 bill payment points across the UK. Post Office also acquired Payzone's bill payment technology which will enable it to further enhance its existing bill payments offering.
The transaction was subject to approval by the Competition and Markets Authority (CMA), which was announced by the CMA on 19 October 2018.
The Pinsent Masons team was led by corporate partner John Tyerman assisted by Rob Cunningham, competition partner Alan Davis assisted by Robert Eriksson, and technology partners Simon Colvin and Angus McFadyen assisted by Niamh Mooney.