The NFRN has listed issues with the new Payzone contracts that it hopes to change during upcoming discussions with the company.

These include:

• Reducing the £105 non-payment charge
• Giving retailers a full invoice of transactions and payments
• Payzone obtaining credit from cancelled PAYG top-up from the SIM supplier
• Scrapping the low-usage transaction charge where changes to Payzone services offered are likely to cause retailers to be hit by it
• Payzone to include retailer payment processing costs in new supplier contracts
• No increase in the new 99p weekly charge for three years
• More information on the personal data Payzone require retailers send them
• More information on the need for retailers to include the terminal in their own insurance policies.

This comes following talks between Payzone and the NFRN last week, which resulted in the payment services company backing down over some contract elements such as denying retailers the ability to opt-out of the new contracts without fee.

Discussing the possibility of the company changing its mind on the points listed above, NFRN CEO Paul Baxter said: “Payzone has agreed to work with the NFRN to consider more practical solutions in support of retailers that decide to enter into a new contract.“

Payzone chief commercial officer Robert Lowery said: “We recognise the role the NFRN plays and welcome the chance to get things right to the benefit of all sides.”

The NFRN has produced a guide, which includes a list of retailer rights related to the new terms, and a way for stores to calculate how the terms and conditions changes will impact earnings.

Do it: Read the NFRN’s factsheet on Payzone