Paysafe Limited - PSFE STOCK NEWS

Paysafe (NYSE: PSFE) released its latest report, 'All the ways players pay,' revealing that quick and easy payouts are crucial for online sports bettors in North America and the U.K. A survey of over 2,000 bettors indicated that 36% prioritize payout speed over brand trust (34%) and odds/promotions (28%). In Michigan, 43% of players valued fast payouts the most. The research also highlighted a shift towards digital wallets and eCash, with 28% preferring digital wallets and 16% favoring eCash. Payments are vital for player retention, with 75% citing them as important. Overall, players are increasingly confident in payment security, a positive trend for the iGaming industry.

Paysafe (NYSE: PSFE) expands its payment processing services into the Ohio online sports-betting market, enhancing its operations in 25 U.S. jurisdictions. Following its entry into Maryland in Q4 2022, the company aims to capitalize on Ohio's market, projected to generate $900M in annual gaming revenue. Paysafe is collaborating with major sportsbooks like DraftKings (NASDAQ: DKNG) and Betway (NYSE: SGHC), offering a suite of payment solutions, including deposits via credit and debit cards and its Skrill digital wallet. This expansion positions Paysafe as a leader in the rapidly growing iGaming sector.

The latest research from Paysafe (NYSE: PSFE) indicates strong optimism among U.S. brick-and-mortar SMBs for 2023, with 56% believing their performance will improve compared to 2022. Key findings reveal that 80% view payment systems and checkout experiences as vital for growth, while 70% aim to adopt new payment technologies. The study also shows 73% of businesses have established an online presence, crucial for survival. Paysafe emphasizes that enhancing payment solutions can significantly impact customer retention and attraction.

Paysafe's cash arm, viafintech, has partnered with Germany's third-largest bank, ING Germany, allowing over nine million customers to make cash deposits and withdrawals via the 'ING Cash' service. This service can be accessed through the 'Banking to Go' app and used at more than 12,500 partner stores, including Rewe and Penny. ING customers can withdraw cash free of charge, while deposits incur a 1.5% fee. This partnership aims to improve cash access, particularly in rural areas, enhancing banking convenience.

Paysafe Limited (NYSE: PSFE) announced a 1-for-12 reverse stock split approved by over 95% of shareholders. This consolidation affects both issued and unissued common shares, adjusting the authorized capital to $22 million across approximately 1.6 billion shares. The reverse split will take effect on December 12, 2022, allowing trading under a new CUSIP number from December 13, 2022. Concurrently, the number of shares linked to warrants and LLC Units will also adjust proportionately, resulting in an increased exercise price from $11.50 to $138.00 per share.

Paysafe (NYSE: PSFE) has partnered with Virgin Voyages to streamline online payments for adult travelers booking cruises. This collaboration will enhance payment security and efficiency, allowing customers to book cruises across various destinations, including the Caribbean and Europe, using multiple currencies. Paysafe's extensive experience in managing payments for travel merchants will help mitigate risks associated with cruise bookings, ensuring smooth transactions and addressing fraud and chargeback issues effectively.

The latest research by Paysafe (NYSE: PSFE) reveals that 52% of online SMBs face checkout issues during peak shopping seasons, a rise from 43% in 2021. This affects their revenue, with nearly a third losing over $100,000 due to problems like system slowdowns (46%) and payment failures (31%). While 74% of merchants acknowledge checkout as a competitive advantage, cart abandonment is a growing concern, affecting 74% of them in 2022. Despite interest in new payment technologies, debit (75%) and credit cards (72%) remain the leading payment methods.

Paysafe Limited (NYSE: PSFE) announced that CEO Bruce Lowthers will participate in a fireside chat at the Credit Suisse 26th Annual Technology Conference on Wednesday, November 30, at 10:15 a.m. MT / 12:15 p.m. ET in Scottsdale, Arizona. The chat will be available for live streaming on the Paysafe Investor Relations website and archived for a limited time. Paysafe is a prominent payments platform facilitating seamless transactions worldwide, with over $120 billion in annualized transactional volume.

Paysafe's prepaid eCash solution, paysafecard, has been launched as an alternative payment method on Microsoft.com and Xbox.com in the US and eight European countries, expanding their existing partnership that now spans 31 countries. This service allows millions who prefer cash transactions to make purchases online without needing credit card details. The collaboration originally began in December 2020 and includes a multi-year agreement for Microsoft to support Paysafe’s transaction services.