Welcome to our dedicated page for Paysafe news (Ticker: PSFE), a resource for investors and traders seeking the latest updates and insights on Paysafe stock.
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.
Paysafe Limited (NYSE: PSFE) announced the appointment of Daniel Henson as non-executive chairman of its board effective March 1, 2022. Henson, with over 30 years of experience in capital markets and technology, succeeds William P. Foley II, who stepped down to focus on other commitments. Henson aims to leverage Paysafe’s specialized payment offerings for future growth. Under Foley’s leadership, Paysafe has made significant strides since its NYSE listing, and Henson is expected to elevate the company further.
Paysafe Limited (NYSE: PSFE) reported its Q4 and full-year 2021 financial results, with Q4 total payment volume at $31.5 billion, a 20% increase, and revenue of $371.7 million, nearly flat year-over-year. For the full year, total payment volume rose 22% to $122.4 billion, while revenue increased by 4% to $1,487 million. The company achieved a net income of $90.3 million in Q4, recovering from a loss in the previous year. However, the full-year net loss was $111 million. Paysafe has launched new partnerships and enhanced its market position in North American iGaming and crypto. Financial guidance for 2022 indicates revenue of $1.53 - $1.58 billion.
Paysafe (NYSE: PSFE) has announced a strategic partnership to facilitate online credit and debit card payment processing for Hard Rock Online Casino New Jersey. This collaboration enhances the gaming experience for New Jersey players, allowing secure and quick funding of player accounts. Additionally, through Paysafe’s integration with third-party ACH services, customers can access their winnings in real-time. The partnership highlights Paysafe's commitment to the iGaming sector and its ongoing relationship with Hard Rock as they explore further market opportunities.
Paysafe (NYSE: PSFE) has launched a partnership with Bally’s Corporation (NYSE: BALY) to enhance online payments in Arizona and New Jersey. The integration allows players to deposit funds easily using credit or debit cards for Bally Bet and BallyCasino.com. The partnership aims to streamline payment acceptance and improve customer conversion rates, with plans for alternative payment methods like Skrill USA and paysafecard to be added soon. Future phases include further integrations across additional states, reflecting Paysafe's commitment to becoming a leader in the iGaming payment sector.
Paysafe (NYSE: PSFE) has expanded its partnership with BetWildwood, enhancing its payment offerings with the upgraded Skrill USA digital wallet. This integration aims to streamline deposits and payouts for players in Colorado, promoting easier user experiences and increasing customer acquisition and retention. Players can now fund their accounts directly via bank transfers, credit/debit cards, and in-store eCash solutions. With real-time access to winnings, the Skrill USA wallet is part of Paysafe's strategy to lead in the growing iGaming market.
Paysafe (NYSE:PSFE) has appointed Rachel McShane as Chief Financial Officer and Megan Oxman as Senior Vice President of New Product Development for its Digital Wallets team. McShane brings 15 years of financial services experience, previously working at Barclays. Oxman has a strong background in consumer payments from Amazon. Both appointments aim to enhance Paysafe's digital wallet offerings and drive innovation in the payments sector.
Paysafe (NYSE: PSFE) has expanded its payment processing and affiliate services into the Louisiana and Oregon mobile sports betting markets. The company's partnerships with major sportsbooks like Caesars Entertainment (NASDAQ: CZR) and DraftKings (NASDAQ: DKNG) are set to capitalize on a projected annual market handle of
Paysafe Limited (NYSE:PSFE) will announce its fourth quarter and full year 2021 financial results on March 2, 2022, before the market opens. The company will host a live webcast discussing the results at 8:30 a.m. ET that same day, accessible via their investor relations site. With over $100 billion in annualized transactional volume in 2020 and a strong workforce of approximately 3,400 employees, Paysafe continues to innovate in payment processing, digital wallets, and online cash solutions.
Paysafe (NYSE:PSFE) has completed the acquisition of SafetyPay, enhancing its position in the rapidly growing Latin American eCommerce market. This strategic move follows its recent purchase of PagoEfectivo, positioning Paysafe as a leading provider of open banking and eCash solutions in the region. SafetyPay's extensive bank network, covering over 90% of banks and over 180,000 cash collection points in 11 countries, will create significant cross-selling opportunities across Paysafe's business units, driving long-term growth.
Paysafe (NYSE: PSFE) has expanded into New York's regulated sports-betting market, enhancing its role as a leader in North American iGaming payments and affiliate marketing. This follows significant growth in 2021 and the upgrade of its Skrill USA digital wallet for iGaming. The New York market is projected to reach $1 billion in annual revenue, contributing to a broader strategy of supporting gaming brands across 18 U.S. states. The recent changes aim to strengthen Paysafe's competitive position as the online gaming industry continues to evolve.
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