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Payzone signs for Experian Risk Report

20 January 2009  |  2928 views  |  0 Source: Experian

Payzone, the leading European consumer payments and cash distribution network, has selected Experian, the global information services company, to help it grow its retail business customer base, while undertaking accurate risk assessment on non-limited businesses.

Payzone's consumer payments and cash distribution business will use Experian's Risk Report. The online commercial credit report, which combines Experian's extensive data assets and Commercial Delphi, a highly predictive risk index, will provide Payzone with greater insight into its commercial credit-granting process for its retail customers and, in particular, for smaller independent retailers.

Payzone offers a wide range of services through the retail channel, including pre-paid mobile phone top-ups, energy pre-payments, bill payments, online shopping and prepaid debit cards delivered through 240,000 points of service - terminals, vending units and EPOS tills - at more than 170,000 retail locations across Europe. Its retail customers range from large multiples to smaller independents.

The combination of the Risk Report and Commercial Delphi will enable Payzone to obtain accurate risk scores for non-limited customers. As a result, the company will be able to achieve a three-fold increase in the number of smaller retailers that meet its company credit policies by basing its credit decisions on Experian's blended consumer and commercial business data rather than commercial data alone.

Karen Murray, Collections and Litigation Manager for Payzone, said: "Experian's combination of its Risk Report and the blended data via Commercial Delphi gives us the full picture on a business, online and in real time. This not only allows us to accept more business with confidence based on real data insight, but it also speeds up our decision-making processes allowing Payzone to get new customers onboard more quickly and effectively."

Tony Pullen, Managing Director of Experian's Business Information division commented. "By integrating consumer and business information we are able to give Payzone a far more accurate picture of risk and the wider business interests and track records of those behind a non-limited business. This predictive power is not onnly vital to show you who you shouldn't do business with, as Payzone's experience illustrates, it's also crucial in showing you who you should be doing business with."

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