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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), a leading payments platform, has announced it will release its second quarter 2024 financial results on Tuesday, August 13, 2024, before the market opens. The company's management will host a live webcast to discuss the results at 8:30 a.m. ET on the same day.
Investors and interested parties can access the webcast and supplemental information through the investor relations section of Paysafe's website at ir.paysafe.com. An archive of the event will be available afterwards and remain accessible via the same link for at least one year.
For those who prefer to dial in, the conference call numbers are 877-407-0752 (U.S. toll-free) and 201-389-0912 (International).
Chelsea FC has announced Skrill, a digital wallet powered by Paysafe (NYSE: PSFE), as an official partner for their pre-season US tour. Skrill will be the presenting partner for Chelsea's opening fixture against Wrexham AFC at Levi's Stadium on July 24th. The partnership allows global fans to use Skrill and Paysafe's paysafecard for payments at the Chelsea FC Online Megastore until year-end.
Skrill, founded in 2001, operates in over 130 countries and supports 260 payment types in 40+ currencies. Chelsea's Chief Revenue Officer, Casper Stylsvig, praised Skrill's agile approach to financial services. Rob Gatto, Paysafe's Chief Revenue Officer, highlighted how Skrill enhances fans' matchday experiences with quick and secure payment options.
Paysafe (NYSE: PSFE) reported its Q1 2024 financial results, showcasing an 8% rise in revenue to $417.7 million and a 7% increase in total payment volume to $36.1 billion. Net income reached $3.1 million, reversing a net loss of $3.8 million in Q1 2023. Adjusted net income climbed 7% to $35.3 million, while adjusted EBITDA grew 4% to $111.9 million. The company reduced its net leverage to 4.9x from 5.0x. Key initiatives included expanding the sales team, launching a Pay by Bank solution in the U.S. iGaming market, and integrating Mastercard’s Secure Card on File. Paysafe reaffirmed its full-year 2024 revenue guidance of $1,688-$1,712 million and adjusted EBITDA of $473-$488 million. Additionally, Paysafe reported progress in sustainability, releasing its inaugural report.
Paysafe (NYSE: PSFE) will have its Chief Financial Officer, Alex Gersh, participating in a fireside chat at the Barclays 14th Annual Emerging Payments and FinTech Forum on May 15, 2024. The event will be live webcasted and available on Paysafe's Investor Relations website.
Paysafe (PSFE) launches Pay by Bank for iGaming, allowing U.S. online bettors to fund deposits at operators’ cashiers directly from their bank accounts and cash-out winnings seamlessly. The new solution expands the capabilities of Paysafe’s Gateway, connecting U.S. operators to a comprehensive range of traditional and alternative payment methods via a single integration. Pay by Bank addresses the growing demand from U.S. players for payment choice, particularly appealing to the 27% of bettors who prefer direct bank transfer. The product benefits operators by providing more payment choice, strengthening customer retention, and reducing liability for bank account defaults. Paysafe will showcase Pay by Bank at the SBC Summit North America in New Jersey from May 7th to 9th, 2024.
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