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Paysafe Limited reports news as a global payments platform serving merchants and consumers across iGaming, video gaming, e-commerce, online trading, retail, travel and hospitality. Company updates cover card payments, digital wallets such as Skrill, eCash products such as PaysafeCard, local payment methods and merchant acquiring activity across North America, Europe and other markets.
Recurring developments include earnings releases, product launches and partner integrations, including PaysafeWallet, Pay with Crypto, embedded finance tools for U.S. small and midsized merchants, agent-program expansion and board governance changes. News also reflects Paysafe's focus on digital wallet adoption, cash-to-digital payment flows, crypto-enabled deposits where permitted and payment services for experience-economy verticals.
Paysafe has announced its expanded partnership with the Ontario Lottery and Gaming Corporation (OLG) to launch the first provincial lottery and gaming affiliate program in Canada under OLG.ca. This program, powered by Income Access, will enable affiliates to promote OLG.ca products, including iCasino and sports betting, leveraging OLG's strong brand recognition. The initiative aims to enhance the customer experience while reinvesting profits back into Ontario.
Paysafe (NYSE: PSFE) has partnered with Strive Gaming to enhance payment solutions for gaming operators in regulated North American markets. Strive Gaming has integrated Paysafe's technology into its player account management (PAM) platform, enabling Golden Nugget Online Gaming and other clients to access a broad range of payment methods through a unified interface. The partnership aims to provide seamless transactions and real-time analytics for improved operational efficiency and security. CEO Zak Cutler emphasized the commitment to support North American iGaming operators’ growth.
Paysafe Limited (NYSE: PSFE) reported mixed financial results for Q1 2022, showing a 13% increase in Total Payment Volume to $31.2 billion. However, the company posted a net loss of $1.2 billion, significantly higher than the $60.6 million loss in Q1 2021, primarily due to a non-cash impairment charge. Revenue slightly decreased by 3% to $367.7 million, although it was flat on a constant currency basis. Adjusted EBITDA dropped 8% to $104 million. Despite these challenges, Paysafe remains optimistic about growth in US Acquiring and its digital wallet business.
Paysafe (NYSE: PSFE) has extended its collaboration with Playtech (LSE: PTEC) into the UK and Europe, following successful integrations in the US. This partnership leverages a single API for iGaming operators to access a range of Paysafe’s payment solutions, enhancing consumer choice in online betting. The two companies bring over 40 years of industry experience and aim to drive innovations that improve the player experience. CEO Paulette Rowe emphasizes the importance of seamless payments in gaming, while COO Shimon Akad highlights the significance of technology-driven solutions.
Paysafe (NYSE: PSFE) announces an extended collaboration with Visa to integrate Visa Direct, enhancing rapid money movement for merchants and online businesses in the UK and Europe. This partnership allows merchants to control cash flow better, enabling payments within minutes. The integration supports both domestic and cross-border payments to eligible Visa cards. This development highlights the importance of speed in industries like cryptocurrency and iGaming, providing a competitive edge for businesses.
Paysafe (NYSE: PSFE) has partnered with Exeter Finance LLC to offer the Paysafecash online payment solution to over 500,000 customers. This marks the first eCash payment option for Exeter since entering the U.S. auto finance market in Q2 2021. Customers can securely make cash payments online by generating a barcode and completing the transaction at one of 70,000+ retail locations. This initiative aims to enhance financial inclusion for unbanked and underbanked individuals while providing a safer payment alternative.
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Rewire has partnered with Paysafe (NYSE: PSFE) to launch Paysafecash, expanding financial services for cash-reliant migrants in the UK and 16 other European countries. The collaboration aims to bridge the gap for the unbanked population, enabling services like remittances, local payment accounts, and more. With over 200,000 Paysafecash locations worldwide, users can deposit cash into their accounts easily. This partnership enhances accessibility for migrants, supporting financial inclusion and addressing their unique needs in cross-border transactions.
Paysafe Limited (NYSE: PSFE) will announce its first quarter 2022 financial results on May 11, 2022, before market open. A live webcast is scheduled for 8:30 a.m. ET that same day, hosted by CEO Bruce Lowthers and CFO Izzy Dawood. Investors can access the webcast and supplemental information on the Paysafe investor relations website. Paysafe specializes in payment processing, digital wallets, and online cash solutions, processing over $120 billion annually with around 3,500 employees globally.
Paysafe (NYSE: PSFE) has expanded its partnership with Betsson Group to support the launch of the Betsafe online sportsbook in Colorado. This collaboration, which has lasted 15 years, will allow coloradan sports bettors access to a range of traditional and alternative payment methods. Players can use online credit and debit card deposits, as well as Paysafe’s eCash solutions like paysafecard and Paysafecash. The partnership enhances customer experience by ensuring seamless transactions for both deposits and payouts.