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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.
Paysafe (NYSE: PSFE) has appointed Zak Cutler as CEO of North America iGaming, enhancing its strategic efforts in the rapidly growing online gambling market. Cutler, with extensive experience from Jackpocket and DraftKings, will focus on strengthening Paysafe's position as the preferred payments partner in the U.S. iGaming sector. The company currently serves 75% of U.S. operators and has strong footholds in Canada and Europe. Paysafe aims to leverage Cutler's expertise to capitalize on the explosive growth in U.S. online gambling regulations.
Paysafe (NYSE: PSFE) has partnered with bunq, a Dutch challenger bank, to offer cash services to bunq customers across 21 European countries. This collaboration allows customers to utilize Paysafecash for cash deposits via the bunq mobile app, facilitating easy cash top-ups. Users can generate a unique barcode for cash deposits that can be scanned at approximately 190,000 payment points. This partnership aims to enhance banking access for cash-reliant customers in Europe, aligning with bunq's mission to provide user-friendly banking services.
Paysafe (NYSE: PSFE) announces an expanded partnership with Betfred USA Sports to launch a multi-state affiliate marketing program, leveraging its Income Access technology. The program aims to enhance Betfred's growth in the U.S. iGaming market, starting in Colorado. Paysafe's affiliate marketing platform is designed to improve collaboration between Betfred and its marketing partners, facilitating effective promotion of betting options. This initiative aligns with Paysafe's focus on increasing its market presence and supporting Betfred's long-term growth.
Paysafe (NYSE:PSFE) has completed its acquisition of PagoEfectivo, a leading Peruvian alternative payments platform. This strategic move strengthens Paysafe's footprint in Latin America, a rapidly growing online market. The acquisition, alongside the upcoming SafetyPay acquisition, positions Paysafe as a leader in eCash and open banking solutions. The combined entities are expected to create numerous cross-selling opportunities across Paysafe's business units, enhancing long-term growth prospects and improving service offerings for merchants in key sectors.
Paysafe Limited (NYSE: PSFE) announced that CEO Philip McHugh and CFO Izzy Dawood will participate in a virtual fireside chat at the Deutsche Bank Technology Conference on Friday, September 10, at 12:05 p.m. Eastern Time. A live webcast of this event will be available on the Paysafe Investor Relations website and archived for a limited time. Founded over 20 years ago, Paysafe connects consumers and businesses through a specialized payments platform with an annual transactional volume of $100 billion in 2020.
Paysafe Limited (NYSE: PSFE) has announced that CEO Philip McHugh and CFO Izzy Dawood will participate in a virtual fireside chat at the BMO 2021 Technology Summit on August 24 at 10:00 a.m. ET. Investors can watch the live webcast on the Paysafe Investor Relations website under the 'Events' section. Paysafe is a specialized payments platform, facilitating seamless transactions globally with an annualized transactional volume of $100 billion in 2020 and supporting over 70 payment types in more than 40 currencies.
Paysafe Limited (NYSE: PSFE) reported Q2 2021 financial results showing a 41% increase in Total Payment Volume to $32.3 billion and a 13% rise in Revenue to $384.3 million. The Company achieved a net income of $6.6 million, compared to a loss of $15.9 million a year earlier. Adjusted EBITDA rose 8% to $118.8 million. Notably, the U.S. iGaming sector saw a 48% revenue growth. Despite these gains, net cash from operations turned negative at $7.7 million. The Company reaffirmed its full-year outlook, highlighting ongoing strategic initiatives and successful acquisitions.
Paysafe (NYSE: PSFE) has announced a definitive agreement to acquire SafetyPay for USD 441 million in cash. This acquisition aims to enhance Paysafe's presence in the rapidly expanding Latin American eCommerce market, where it will be positioned as a leading provider of open banking and eCash solutions. SafetyPay, founded in 2007, operates in 11 Latin American countries and provides a robust network for payments. The transaction is expected to close in Q4 2021, with anticipated synergies in key sectors such as iGaming, travel, and digital goods.
Paysafe (NYSE: PSFE) announced the appointment of Chirag Patel as CEO of its Digital Wallets business, reporting to Group CEO Philip McHugh. Patel, an experienced payments executive, joins from Santander Group, where he launched a global payments platform. He replaces Lorenzo Pellegrino, who transitions to a strategic advisory role. Paysafe’s digital wallets, including Skrill and NETELLER, are used by 3.5 million consumers and processed $20.4 billion in payment volume in 2020. Patel aims to leverage Paysafe's technology to expand customer offerings.
Paysafe (NYSE:PSFE) has announced the acquisition of PagoEfectivo, a leading Peruvian alternative payments platform. This acquisition aims to strengthen Paysafe's position in the rapidly growing Latin American market, where alternative payment methods are in high demand.
PagoEfectivo, founded in 2009, enables eCash and online banking solutions for millions of users in Peru and Ecuador. The deal is expected to close by August, pending customary conditions. The integration of both teams is expected to enhance revenue opportunities across their international merchant bases.
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