Paysafe Limited Stock Price, News & Analysis

Paysafe (NYSE: PSFE) reveals that 55% of crypto owners in the U.S. and U.K. prefer receiving their salaries in cryptocurrency, driven by investment sentiment and financial flexibility. The research indicates a growing belief in crypto as the future of finance, with 54% of respondents agreeing on its dominance. However, 70% have faced doubts, and 59% feel the lack of practical applications limits crypto's potential. Optimistically, 60% expect broader online acceptance of crypto payments in the next year. The insights come from a survey of 2,000 crypto owners.

Paysafe Limited (NYSE: PSFE) disclosed that Cannae Holdings, Inc. (NYSE: CNNE) purchased approximately 5.7 million shares of its common stock for about $22.2 million in December 2021. This acquisition increased Cannae's holdings to 59,758,641 shares, representing 8.26% of Paysafe's outstanding shares. The announcement follows a previous report of Paysafe leadership purchasing approximately 737,000 shares in late 2021. The transaction aims to reflect Cannae's confidence in the direction of Paysafe.

Paysafe Limited (NYSE: PSFE) announced significant stock purchases by its executives, including CEO Philip McHugh, who acquired approximately 290,000 shares for around $1 million on December 3, 2021. Additionally, other executive officers and independent Board members bought about 447,000 shares totaling approximately $1.8 million between November 12 and December 3, 2021. These purchases indicate confidence in Paysafe's future, aligning with its mission to enhance payment solutions globally, boasting a transactional volume of $100 billion in 2020.

Paysafe (NYSE: PSFE) reports that 71% of U.S. small and mid-sized businesses (SMBs) now have eCommerce checkouts, with 19% diversifying online during the pandemic. Despite the rise of contactless payments, 89% still accept cash, with 90% planning to continue. The research reveals that 73% of SMBs accept contactless payments while 12% have begun accepting cryptocurrencies. CEO Afshin Yazdian emphasizes the need for SMBs to diversify payment options to meet consumer demand. The report suggests an ongoing preference for physical stores even as online sales increase.

Paysafe Limited (NYSE: PSFE), a specialized payments platform, announced that CEO Philip McHugh and CFO Izzy Dawood will participate in the Cannae Portfolio Conference on December 8-9 in Las Vegas.

Paysafe is scheduled to present on December 8 at 11:40 a.m. PST. A live webcast of the event will be available on the Paysafe Investor Relations website and archived for a limited period. With over 20 years of experience and $100 billion in annualized transactional volume in 2020, Paysafe supports over 70 payment types in more than 40 currencies globally.

Paysafe (NYSE: PSFE) has partnered with Huawei to allow customers to use paysafecard for payments in the Huawei AppGallery across multiple European countries, including Germany, Italy, and the UK. This new collaboration aims to expand cash-based online purchases, making it accessible to millions. paysafecard, available in 50 countries with over 700,000 retail partners, enables secure online shopping without requiring sensitive financial information. In 2020, paysafecard reported a transaction volume of €4 billion, reinforcing its market leadership.

Paysafe Limited (NYSE: PSFE) announced Q3 2021 results, revealing a 19% increase in Total Payment Volume at $31.1 billion. Revenue slightly declined by 1% to $353.6 million, with a net loss of $147.2 million impacted by a $322.2 million impairment charge. Adjusted EBITDA was $106.4 million, marking a 1% decrease. The company revised its full year revenue outlook to $1.470 - $1.480 billion due to challenges in the digital wallet segment and European markets. However, it reported strong growth in iGaming and expanded partnerships in the U.S.

Paysafe (NYSE: PSFE) has successfully migrated its Digital Wallet services, including Skrill and NETELLER, to Amazon Web Services (AWS), marking a significant step in its transition to a fully cloud-based payment provider. This migration is expected to enhance operational efficiency, reducing merchant integration deployment time by approximately 80%. The new cloud infrastructure allows Paysafe to innovate services and potentially open new revenue streams while decreasing hardware costs. This strategic move aligns with its growth plans into 2022.

Paysafe (NYSE: PSFE) has announced its platform is now live for SuperBook Sports in Colorado and New Jersey. This partnership enhances SuperBook's payment offerings by integrating a wide range of payment methods via Paysafe's technology. SuperBook Sports aims to improve customer experience in sports betting, with a focus on payment efficiency, which is critical for player acquisition in the U.S. market. This collaboration is expected to support SuperBook's growth after its successful launch in Colorado in October 2020 and New Jersey in August 2021.