PayZone - What comission to they pay?

[bizniss]

Hiya, just wondering what comission PayZone pay to Agents for Top ups and electric / gas payments etc?

Searched google but cant really get anything.

Thank you

 

[jaspey]

Ive had alot of dealings with payzone and paypoint and i will unfortunately inform you that it is literally pennies, they arent really something you look to make a profit on, they are like newspapers, lottery and cigarrettes in the way that they attract customers into your premises and they hopefully buy something else, and in my experience being an ex manager for big companies who use these services it works.

 

[bizniss]

Ive had alot of dealings with payzone and paypoint and i will unfortunately inform you that it is literally pennies, they arent really something you look to make a profit on, they are like newspapers, lottery and cigarrettes in the way that they attract customers into your premises and they hopefully buy something else, and in my experience being an ex manager for big companies who use these services it works.

Hiya, Yes I knew they were very low, but just wanted to get a better idea. We started to sell Cigarettes and that has bought a lot more custom. The average profit is only about 5% per pack of cigarettes. Its only small but every little helps, plus they tend to buy something else whilst in the shop.

Alot of people asking for phone top ups etc so thought I would look into it. I just want to get an idea of what they pay.

thank you

 

[jaspey]

To give you an idea, for a £10.00 o2 topup i think we would get around 2p, commission is slightly higher on some items such as emoney vouchers and international phone cards. Just make sure if a customer comes in to use it that they pay cash only. Otherwise any profit made will actually turn into a negative with bank charges on a card transaction. Either that or advise they must buy something else to use the card.

 

[bizniss]

To give you an idea, for a £10.00 o2 topup i think we would get around 2p, commission is slightly higher on some items such as emoney vouchers and international phone cards. Just make sure if a customer comes in to use it that they pay cash only. Otherwise any profit made will actually turn into a negative with bank charges on a card transaction. Either that or advise they must buy something else to use the card.

woah that low. Though it would have been a bit more than that, but if it brings extra custom in at the same time then it's great I suppose. I guess we will have to test it out and see how it goes.

thanks for your advice

 

[jaspey]

No problem, its one field i do have alot of experience in, i always found the biggest money spinners are confect, especially if you get the new products as they come out and locate them in a dump bin near the tills, the only other pain with payzone/paypoint is you have to make sure the money is in your account handy as they are quite quick on the ball at taking it out, which is fine as long as your organised. What business is it that you run? ive managed both large cooperative stores and small independants .

 

[bizniss]

No problem, its one field i do have alot of experience in, i always found the biggest money spinners are confect, especially if you get the new products as they come out and locate them in a dump bin near the tills, the only other pain with payzone/paypoint is you have to make sure the money is in your account handy as they are quite quick on the ball at taking it out, which is fine as long as your organised. What business is it that you run? ive managed both large cooperative stores and small independants .

We run a small convenience shop. Was originally meant to be a pound/toy shop kind of store, but its slowly turned itself into more of a convenience store as we've added alot of confectionery, sweets, crisps etc that people kept asking for. We also sell cigarettes now, again what people kept asking for.

How do payzone work then? Ive been on there website but it doesnt give too much info away. How quickly do they take there money from the account on average? I try and bank as quick as I can so that shouldnt be a problem anyway.

Chris.

 

[jaspey]

From what i remember from payzone its on a weekly basis, youll get a statement also with commission earned ( once a month) this could vary as larger business's generally get more lee way that smaller independants which is unfortunately normally the case, there are other things to look into also like, do other stores have it in your immediate vicinity? as they generally only give them out if you arent directly competing with another of their customers. If you have a premises licence for tobacco, surely its worth going the whole hog and offering alcohol as well?

 

[jaspey]

Dont get me wrong youd need a licence to sell it, but cheap 3 for a tenner wine deals from my experience tend to fly out

 

[bizniss]

Dont get me wrong youd need a licence to sell it, but cheap 3 for a tenner wine deals from my experience tend to fly out

If only we had the space, we would. Shop is rammed enough as it is lol, dont htink the outdoor a few doors away would be too happy with us if we did.

Chris.