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Paysafe Limited (PSFE) is a leading global provider of payment solutions, serving businesses and consumers in over 200 countries and territories. Headquartered in Canary Wharf, London, Paysafe employs more than 1,550 staff from over 40 nationalities, with offices throughout Europe and North America.
Founded on the mission to simplify and secure financial transactions, Paysafe operates through three primary business segments: Integrated Processing, Digital Wallet, and eCash Solutions. These segments enable the company to offer a comprehensive suite of services, including payment processing, digital wallets, and online cash solutions.
Through its Integrated Processing division, Paysafe provides merchants with a variety of services to accept credit and debit cards, direct-from-bank payments, and alternative payment methods. This segment is particularly strong in the USA, Germany, and the UK.
The company's Digital Wallet segment includes well-known brands like Neteller and Skrill. These platforms offer multilingual and multicurrency services, enabling consumers to make secure payments and manage funds conveniently. Additionally, the Net+ card provides a stored-value option for secure transactions.
Paysafe's eCash Solutions, such as paysafecard, offer prepaid vouchers that enable consumers to make online transactions without the need for a bank account or credit card. This service is especially popular in markets with lower banking penetration.
Recent achievements include the expansion of its partnership with Xsolla, a leading video game commerce company, to offer more payment solutions to gamers globally. Paysafe continues to innovate with new projects aimed at enhancing customer experience and expanding its market reach.
Financially, Paysafe is robust, with a significant portion of its revenue coming from the USA, followed by Germany and the UK. The company's ongoing partnerships and product innovations position it well for sustained growth.
Rewire has partnered with Paysafe (NYSE: PSFE) to launch Paysafecash, expanding financial services for cash-reliant migrants in the UK and 16 other European countries. The collaboration aims to bridge the gap for the unbanked population, enabling services like remittances, local payment accounts, and more. With over 200,000 Paysafecash locations worldwide, users can deposit cash into their accounts easily. This partnership enhances accessibility for migrants, supporting financial inclusion and addressing their unique needs in cross-border transactions.
Paysafe Limited (NYSE: PSFE) will announce its first quarter 2022 financial results on May 11, 2022, before market open. A live webcast is scheduled for 8:30 a.m. ET that same day, hosted by CEO Bruce Lowthers and CFO Izzy Dawood. Investors can access the webcast and supplemental information on the Paysafe investor relations website. Paysafe specializes in payment processing, digital wallets, and online cash solutions, processing over $120 billion annually with around 3,500 employees globally.
Paysafe (NYSE: PSFE) has expanded its partnership with Betsson Group to support the launch of the Betsafe online sportsbook in Colorado. This collaboration, which has lasted 15 years, will allow coloradan sports bettors access to a range of traditional and alternative payment methods. Players can use online credit and debit card deposits, as well as Paysafe’s eCash solutions like paysafecard and Paysafecash. The partnership enhances customer experience by ensuring seamless transactions for both deposits and payouts.
Paysafe has appointed Bruce Lowthers as the new CEO, succeeding Philip McHugh, effective May 1, 2022. Lowthers, a seasoned leader from FIS, aims to scale the company and enhance its payment offerings. Under McHugh's leadership, Paysafe went public and strengthened its operations. The firm reaffirms its revenue and adjusted EBITDA guidance for Q1 and full year 2022. Lowthers emphasized growth opportunities and delivering value to customers and shareholders as key focuses moving forward.
Paysafe (NYSE: PSFE) has expanded its partnership with betPARX, enhancing payment options for betPARX mobile apps in Pennsylvania and New Jersey. This collaboration allows users to make deposits using credit or debit cards via Paysafe's payment gateway. Additionally, betPARX users can utilize alternative payment solutions like Skrill USA and Paysafecash for transactions. The partnership aims to improve customer conversion and retention in key U.S. iGaming markets. Paysafe continues to establish its presence in the growing U.S. iGaming sector.
Paysafe (NYSE: PSFE) has officially launched its services in Ontario's new private iGaming market, providing payment solutions to operators. This comes after establishing a significant presence in Canada, with over 20 years of experience in online payments. The Ontario market, expected to generate gross revenues of C$1.86 billion by 2026, will allow players to use various payment methods, including credit and debit cards. Paysafe plans to introduce new iGaming payment products soon, signaling growth potential in North America's competitive gaming sector.
Paysafe (NYSE: PSFE) has partnered with Resorts World New York to process payments for its new mobile sports-betting app, Resorts WorldBET. This integration allows players to make deposits via debit cards and ACH while also facilitating quick payouts. Paysafe's platform enhances the mobile betting experience, catering to players' needs in New York. CEO Zak Cutler emphasized the partnership's potential to expand customer acquisition and revenue. The mobile app aims to tap into the growing sports-betting market, supporting events like college basketball playoffs and local NBA and NFL games.
Paysafe (NYSE: PSFE) has appointed J.P. Morgan as its core banking provider to enhance international payments settlement. This partnership will leverage J.P. Morgan's expertise in payments solutions, supporting Paysafe’s Integrated and Ecommerce Solutions business across the UK and Europe. Services will include multi-currency settlements and enhanced data analytics, aimed at boosting growth in key sectors like travel as it rebounds post-pandemic. Paysafe aims to create efficiencies and synergies with this collaboration, emphasizing a strong banking infrastructure for scalable solutions.
Paysafe Limited (NYSE: PSFE) announced that CEO Philip McHugh and CFO Izzy Dawood will participate in the Wolfe FinTech Forum on March 9, 2022, at 9:45 a.m. ET. The event will feature a virtual fireside chat, which can be viewed live on the Paysafe Investor Relations website. Paysafe is a specialized payments platform with over 20 years of experience, handling an annual transactional volume exceeding $120 billion in 2021. Their services include payment processing, digital wallets, and online cash solutions across 100 payment types in over 40 currencies worldwide.
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