Grovepoint Capital and Clive Kahn have acquired Payzone UK, the consumer payments network, from Duke Street Capital. Payzone operates a network of payment terminals which connects more than 15,000 local convenience retailers to service providers including logistics businesses, utility providers, mobile network operators, local transport authorities and financial services providers. It also supplies card acceptance terminals, allowing credit and debit card payments, to retailers. The business was founded in 1989 and was acquired by Duke Street Capital in 2009 as part of the Payzone Group. Under its new owners, Clive Kahn, who has been appointed CEO of the company will lead the Payzone business. Clive was formerly CEO of Travelex and payment processing company Cardsave which was acquired by Worldpay. Both Clive Kahn and Grovepoint have agreed to invest significant funds in new technology to transform and grow the business.
Share