Paysafe Limited - PSFE STOCK NEWS

Paysafe (NYSE:PSFE) has partnered with Deutsche Bank to enhance cash services for German banking customers. Through Paysafe's barcode solution, Paysafecash (marketed as 'viacash' in Germany), customers can deposit and withdraw cash at 12,500 retail locations across Germany, including REWE, Penny, DM, and Rossman stores. The service will launch for Postbank customers in November and expand to Deutsche Bank customers in the second half of 2025. Customers can generate barcodes through their banking app's 'Bargeld Code' feature, enabling cash transactions without visiting bank branches or ATMs.

Paysafe (NYSE: PSFE) has scheduled its third quarter 2024 financial results announcement for Wednesday, November 13, 2024, before market open. The company's management will host a live webcast to discuss the results at 8:30 a.m. ET on the same day. Investors can access the webcast and supplemental information through Paysafe's investor relations website at ir.paysafe.com. The presentation archive will remain available for at least one year. For those preferring to dial in, toll-free access is available at 877-407-0752 for U.S. callers and 201-389-0912 for international participants.

Paysafe (NYSE: PSFE) has announced a strategic partnership with Gaming Innovation Group (GiG), a leading B2B iGaming technology company. Under this agreement, Paysafe becomes the GiG-endorsed payments platform for operators integrating GiG's CoreX solution in the UK, continental Europe, North America, and Latin America.

The partnership will integrate Paysafe's local payment methods (LPMs) into GiG's CoreX platform, an AI-driven player account management (PAM) system for online casino and sports-betting brands. This integration will provide operators with access to Paysafe's Gateway, supporting seamless transactions via debit or credit cards, digital wallets (Skrill and NETELLER), and eCash solutions (paysafecard and Paysafecash).

The collaboration aims to give operators a competitive edge in new and existing markets by offering flexible, secure, and market-specific payment solutions.

Paysafe (NYSE: PSFE) has appointed Marianne Heiss as a new independent non-executive board director and member of the Audit Committee. Heiss, former CEO of BBDO Group Germany, brings extensive experience in finance, accounting, auditing, international management, brand building, and ESG to the Paysafe Board. She has a 27-year career at BBDO Worldwide, where she was the first woman to lead BBDO Group Germany. Heiss currently serves on the supervisory boards of Volkswagen AG, Audi AG, Porsche SE, and Flix SE.

Paysafe CEO Bruce Lowthers highlighted Heiss' expertise in finance, accounting, and global branding as valuable assets for the company's growth and business expansion. With Heiss' appointment, the Paysafe board now comprises 10 directors with diverse industry experience in payments, banking, technology, iGaming, entertainment, legal & regulatory affairs, capital markets, and M&A.

Paysafe (NYSE: PSFE) announced a significant leadership transition in its finance department. Alex Gersh, the current Chief Financial Officer, will move into an advisory role to the CEO effective September 4th, remaining with the company at least through the end of the year. John Crawford has been appointed as the new CFO, effective immediately, based in Paysafe's North American headquarters in Jacksonville, Florida.

Crawford brings extensive experience from his nine-year tenure at FIS, where he last served as Executive Vice President—Strategy, M&A and Venture Capital. His background includes leading over 25 deals that significantly contributed to FIS's growth. CEO Bruce Lowthers expressed confidence in Crawford's ability to guide Paysafe towards sustainable growth and long-term success as the company enters a new phase focused on scaling the business.

Paysafe's 'Inside the Wallet' report reveals significant changes in global consumer spending habits and payment preferences. 56% of consumers have altered their spending habits in the past year, becoming more price-conscious and demanding diverse payment options. Debit cards (53%) lead as the most frequently used payment method, followed by bank transfers (39%), credit cards (33%), and digital wallets (32%).

Security is crucial, with 54% of consumers prioritizing secure payment processes when shopping online. Interestingly, 36% of 18-43-year-olds are comfortable with AI in payments, compared to 33% of those 60 and over who are uncomfortable. The survey also highlights financial challenges, with 39% saving less than 6% of their income monthly and 14% not saving at all, largely due to increased living costs.

Paysafe's 'Inside the Wallet' report reveals changing consumer spending habits and payment preferences globally. Key findings include:

- 56% of consumers have altered spending habits from last year
- 43% abandon online carts if preferred payment method is unavailable
- 63% worry about losing cash as a payment option
- 54% prioritize security in online payment processes
- Debit cards (53%), bank transfers (39%), and digital wallets (32%) see increased usage
- 58% have made purchases through social media
- 36% of 18-43-year-olds are comfortable with AI in payments

Despite financial challenges, 60% of consumers remain optimistic about their financial future, with Gen Z showing particular confidence in early homeownership and retirement.

Paysafe (NYSE: PSFE) reported strong Q2 2024 results, with revenue increasing 9% to $439.9 million and total payment volume up 7% to $38.1 billion. The company raised its full-year revenue outlook, now projecting 7-8% growth. Key highlights include:

- Adjusted EBITDA rose 5% to $119.0 million
- Net loss narrowed to $1.4 million, or ($0.02) per diluted share
- Adjusted net income increased to $36.3 million, or $0.59 per diluted share
- Net leverage decreased to 4.8x

Paysafe's growth was driven by strong performance across all major product lines and execution of strategic initiatives. The company continues to focus on expanding sales capabilities, optimizing its portfolio, and enhancing its go-to-market strategy.

Paysafe (NYSE: PSFE) has partnered with Alchemy Pay to expand payment options for crypto purchases. The collaboration integrates Paysafe's Skrill and NETELLER digital wallets into Alchemy Pay's Fiat On-ramp solution, allowing users across 130 countries to buy cryptocurrencies using 40+ fiat currencies. This integration also includes Paysafe's open banking solution in the UK and 15 European countries, enabling direct bank account payments for crypto purchases.

The partnership enhances Alchemy Pay's payment solution by adding local payment methods (LPMs) with high brand recognition in specific markets, particularly in Europe. This expansion aims to reduce payment friction and abandoned transactions for crypto exchanges and Web3 companies. A second phase, expected later this year, will integrate more Paysafe payment options in other markets, including Latin America.