Paysafe Limited - PSFE STOCK NEWS

Paysafe (NYSE: PSFE) has launched a new safeguarding solution for the travel industry, aiming to eliminate the need for cash collateral from travel operators. This innovative system allows consumer payments to be held by a third party, with funds released upon meeting agreed terms. Designed in collaboration with industry experts, the solution addresses liquidity concerns faced by travel businesses, particularly after COVID-19. It has been tested with select partners in Europe and promises to enhance consumer trust and support the travel sector's recovery. A whitepaper detailing the model has also been published.

Paysafe (NYSE: PSFE) has announced an expanded partnership with FOX Bet, enhancing its Michigan sportsbook's payment options with the integration of the Skrill digital wallet and paysafecard eCash solution. This collaboration builds upon Paysafe's long-standing relationship with Flutter Entertainment, integrating payment solutions across multiple states. With 40% of Americans using digital wallets monthly, this move is set to improve user experience for sports bettors in Michigan, providing secure deposits and quick payouts.

Paysafe Limited (NYSE: PSFE) announced the pricing of a US$931 million offering in senior secured notes, consisting of US$400 million of 4.00% notes and €435 million of 3.00% notes, both due in 2029. The offering is anticipated to close on June 28, 2021. Proceeds will be utilized to refinance existing debt. The offering is exclusively for qualified institutional buyers under Rule 144A and Regulation S of the Securities Act of 1933. The notes have not been registered under the Securities Act.

Paysafe Limited (NYSE: PSFE) announced plans for a US$1,026 million offering of senior secured notes due 2029, involving both U.S. dollar and euro-denominated notes. These notes will be fully guaranteed by an indirect subsidiary of Paysafe. The proceeds aim to refinance existing debts, with sales directed towards qualified institutional buyers in compliance with Rule 144A and Regulation S of the Securities Act of 1933. This offering raises potential risks, including significant market conditions and compliance with various regulations.

Paysafe (NYSE: PSFE) has launched the Skrill Virtual Visa® Prepaid Card, allowing U.S. customers to instantly access their Skrill balance for online purchases where Visa is accepted. This fully digital card can be activated within seconds, providing an alternative to the physical card. Users earn points with each transaction under the Skrill Knect loyalty program, with no transaction fees. The launch follows Skrill USA's recent introduction of cryptocurrency services, demonstrating an ongoing commitment to enhancing digital payment solutions for American consumers.

Paysafe (NYSE: PSFE) has launched the Skrill Virtual Visa® Prepaid Card, a digital payments solution for U.S. customers. The card can be activated instantly, allowing users to shop online where Visa® is accepted, without transaction fees. Customers earn points through the Skrill Knect loyalty program for every dollar spent. This innovation follows Skrill USA's recent ventures, including a cryptocurrency offering. CEO Paul Jardon emphasizes the importance of evolving products for consumer convenience.

Paysafe Limited (NYSE: PSFE) reported a 5% increase in revenue for Q1 2021, totaling $377.4 million, compared to Q1 2020. The net loss decreased to $49.1 million from $51.1 million. Total Payment Volume rose 8% to $27.7 billion, while Adjusted EBITDA remained stable at $113.2 million. Significant growth occurred in the eCash Solutions segment, with a 63% revenue increase. The company reaffirmed its 2021 outlook, targeting revenue of $1.530 billion to $1.550 billion. Progress was noted in North American iGaming and emerging eCommerce verticals.

Paysafe (NYSE: PSFE) has released research indicating significant shifts in consumer payment habits due to the pandemic. The survey of 8,000 respondents showed that 86% of consumers altered their payment behaviors, with 59% exploring new methods for the first time. Digital wallets are becoming increasingly popular, with 43% of users adopting them globally. The report emphasizes the importance of offering diverse payment options and security measures at checkout, as 53% of consumers would not return after a poor experience. The study highlights the evolving landscape of payment preferences in the wake of COVID-19.

Paysafe (NYSE: PSFE) has entered a global multi-year agreement with Amazon Web Services (AWS) to transition its critical payment solutions, including eCash and digital wallets, to a cloud-based platform. This collaboration aims to enhance customer acquisition, engagement, and product scalability in North America and Europe. The first milestone of migrating eCash solutions is already complete. The partnership will allow for API-based integrations, facilitating a frictionless customer experience. Paysafe plans to leverage AWS for machine learning and customer insights, driving innovation and faster product delivery.