Payzone losses rise to €177m as consumer spending patterns tighten

ELECTRONIC payments solutions provider Payzone saw its pre-tax losses rise to €177.2 million in its last financial year, according to accounts filed with the Companies Registration Office.

The company, established through the 2007 merger of Irish firm Alphyra and British cash machine operator Cardpoint, had generated a pre-tax loss of €148.7m the previous year.

The latest set of accounts for the Dublin-headquartered company, covering the 12 months to the end of last September, also show an increase in operating loss from €119.2m to €148.6m and a rise in overall revenue from €555.7m to €588.7m.