Portuguese postal service looks for partner in Angola to implement Payshop system

5 July 2006

Lisbon, Portugal, 05 July – CTT – Correios de Portugal, the Portuguese state postal company, is looking for a partner in Angola to implement its Payshop service, which makes it possible to pay bills in stores.

Speaking to Portuguese financial daily, Jornal de Negócios in Lisbon, CTT’s financial director said that the company was available to take a stake in Angola’s Payshop, but that its main interest was to export the service and the technology, which has been well-received in Portugal.

“We sell technologies and we want to take part with local partners or investors, as we sell the name, the brand and the technical support,” said Estanislau Mata Costa.

The service is currently on the brink of being launched in Romania and other investment opportunities in Eastern Europe are being analyzed, said Mata Costa.

In Portugal, the service is currently available in over 2,500 points of sale and the aim is to increase that number to 3,000 by the end of the year.

Last year, the Payshop system processed 3 million transactions per month on average, and contributed 1.8 million euros to CTT’s net result.

Payshop was bought three years ago by the CTT group, which is controlled by the Portuguese state and is the Portuguese postal market leader. (macauhub)