Paysafe Launches Strategic Partnership With GiG

Rhea-AI Summary

Paysafe (NYSE: PSFE) has announced a strategic partnership with Gaming Innovation Group (GiG), a leading B2B iGaming technology company. Under this agreement, Paysafe becomes the GiG-endorsed payments platform for operators integrating GiG's CoreX solution in the UK, continental Europe, North America, and Latin America.

The partnership will integrate Paysafe's local payment methods (LPMs) into GiG's CoreX platform, an AI-driven player account management (PAM) system for online casino and sports-betting brands. This integration will provide operators with access to Paysafe's Gateway, supporting seamless transactions via debit or credit cards, digital wallets (Skrill and NETELLER), and eCash solutions (paysafecard and Paysafecash).

The collaboration aims to give operators a competitive edge in new and existing markets by offering flexible, secure, and market-specific payment solutions.

Positive

• Strategic partnership with GiG expands Paysafe's reach in the iGaming industry
• Integration of Paysafe's payment solutions into GiG's CoreX platform enhances offering to operators
• Partnership covers multiple key markets: UK, continental Europe, North America, and Latin America
• Provides access to Paysafe's suite of payment methods and 30+ third-party LPMs

Negative

• None.

GiG selects Paysafe as strategic payment provider for global operators integrating its leading CoreX B2B iGaming solution

LONDON--(BUSINESS WIRE)-- Paysafe (NYSE: PSFE), a global payments platform, today announced a strategic partnership with Gaming Innovation Group or “GiG” (First North: GIG SDB), a leading B2B iGaming technology company. Under the agreement, Paysafe becomes the GiG-endorsed payments platform for all UK, continental European, North American and Latin American operators integrating its market-leading CoreX solution.

Launched by GiG in January, CoreX is an AI-driven player account management (PAM) platform serving online casino and sports-betting brands, giving operators the flexibility to localize their operations to any regulated jurisdiction. GiG’s global reach will be further strengthened by integrating the highly robust processing capabilities of Paysafe’s local payment methods (LPMs).

Whether an operator is focused on the mature UK market or the evolving US or South American sports-betting spaces, GiG’s technology is complemented by connectivity to the Paysafe Gateway, supporting seamless debit or credit card transactions plus Paysafe’s suite of LPMs, including its Skrill and NETELLER digital wallets and paysafecard and Paysafecash eCash solutions. Beyond Paysafe’s own LPMs, the Gateway also enables access to 30+ third-party LPMs, including solutions with high brand-recognition in specific markets.

Aligned with GiG’s own ethos of agility, the Paysafe Gateway provides all operators with the flexibility to add new LPMs according to market needs and evolving player payment preferences.

“We’re delighted to partner with Gaming Innovation Group, which is one of the gaming industry’s true innovators when it comes to player account management platforms,” said Zak Cutler, President of Global Gaming at Paysafe. “With the global regulated iGaming space increasingly complex, we share GiG’s philosophy of providing operators with the ability to adapt their operations to each unique market while remaining nimble. Together, we look forward to giving our mutual operator partners a competitive edge to support their growth in new and existing markets.”

James Coxon, Chief Operating Officer at Gaming Innovation Group, commented: “Partnering with Paysafe marks another important step forward in ensuring that our operators have access to the most seamless, flexible, and secure payment solutions available on the market, tailored to their specific market needs. As we continue to expand globally, leading innovation throughout the industry with our iGaming platform and sportsbook solution, Paysafe’s extensive payment capabilities provide the reliability and adaptability that align with our vision of delivering opportunities for growth.”

Coxon added, “This collaboration further strengthens what we can offer, providing more evidence of our commitment to empowering our partners’ success in an increasingly competitive and complex iGaming landscape.”

Paysafe will be exhibiting at Booth #3809 of the Global Gaming Expo (G2E) in Las Vegas from October 7^th to 9^th.

About Paysafe

Paysafe Limited (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a leading payments platform with an extensive track record of serving merchants and consumers in the global entertainment sectors. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry leading capabilities in payment processing, digital wallet, and online cash solutions. With over 25 years of online payment experience, an annualized transactional volume of $140 billion in 2023, and approximately 3,200 employees located in 12+ countries, Paysafe connects businesses and consumers across 260 payment types in over 40 currencies around the world. Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments. Further information is available at www.paysafe.com.

About Paysafe iGaming

Paysafe brings over two decades of specialized payments experience supporting the global iGaming and sports-betting sectors and provides operators with a comprehensive suite of traditional and alternative payment methods through a single, streamlined API integration. Paysafe is also a leader in digital and affiliate marketing technology and services for iGaming operators through its Income Access business unit.

Since the opening-up of the US iGaming market in May 2018, Paysafe has consistently stated its ambitions to be the payments leader in the fast-growing sector, building on its leadership in Canada and Europe. As of October 7^th, 2024, the company supports 75% of operators in the country with payments or marketing solutions across 33 jurisdictions. In Canada, Paysafe also has a leading position and partners with the majority of regulated iLottery and gaming brands.

About GiG Software (GiG)

GiG Software is a B2B iGaming technology company that provides solutions, products, and services to iGaming Operators. GiG Software’s mission is to drive sustainable growth and profitability for its partners, with a focus on product innovation and scalable technology. GiG Software’s vision is “To lead the industry as a top platform provider.” GiG Software operates out of Malta. www.gig.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20241007653130/en/

PR@Paysafe.com

Source: Paysafe Limited

FAQ

What is the new partnership between Paysafe and Gaming Innovation Group (GiG)?

Paysafe has become the GiG-endorsed payments platform for operators using GiG's CoreX solution in the UK, continental Europe, North America, and Latin America.

How will the Paysafe-GiG partnership benefit iGaming operators?

The partnership will provide operators with seamless integration of Paysafe's payment solutions, including local payment methods, digital wallets, and eCash solutions, giving them flexibility and a competitive edge in various markets.

What payment methods will be available through the Paysafe-GiG integration?

The integration will offer debit and credit card transactions, Paysafe's Skrill and NETELLER digital wallets, paysafecard and Paysafecash eCash solutions, and access to 30+ third-party local payment methods.

Where can investors see Paysafe (PSFE) at the upcoming Global Gaming Expo?

Paysafe will be exhibiting at Booth #3809 of the Global Gaming Expo (G2E) in Las Vegas from October 7th to 9th.