Paysafe Limited Stock Price, News & Analysis

Paysafe Limited (NYSE: PSFE) announced that CEO Philip McHugh and CFO Izzy Dawood will participate in a virtual fireside chat at the Deutsche Bank Technology Conference on Friday, September 10, at 12:05 p.m. Eastern Time. A live webcast of this event will be available on the Paysafe Investor Relations website and archived for a limited time. Founded over 20 years ago, Paysafe connects consumers and businesses through a specialized payments platform with an annual transactional volume of $100 billion in 2020.

Paysafe Limited (NYSE: PSFE) has announced that CEO Philip McHugh and CFO Izzy Dawood will participate in a virtual fireside chat at the BMO 2021 Technology Summit on August 24 at 10:00 a.m. ET. Investors can watch the live webcast on the Paysafe Investor Relations website under the 'Events' section. Paysafe is a specialized payments platform, facilitating seamless transactions globally with an annualized transactional volume of $100 billion in 2020 and supporting over 70 payment types in more than 40 currencies.

Paysafe Limited (NYSE: PSFE) reported Q2 2021 financial results showing a 41% increase in Total Payment Volume to $32.3 billion and a 13% rise in Revenue to $384.3 million. The Company achieved a net income of $6.6 million, compared to a loss of $15.9 million a year earlier. Adjusted EBITDA rose 8% to $118.8 million. Notably, the U.S. iGaming sector saw a 48% revenue growth. Despite these gains, net cash from operations turned negative at $7.7 million. The Company reaffirmed its full-year outlook, highlighting ongoing strategic initiatives and successful acquisitions.

Paysafe (NYSE: PSFE) has announced a definitive agreement to acquire SafetyPay for USD 441 million in cash. This acquisition aims to enhance Paysafe's presence in the rapidly expanding Latin American eCommerce market, where it will be positioned as a leading provider of open banking and eCash solutions. SafetyPay, founded in 2007, operates in 11 Latin American countries and provides a robust network for payments. The transaction is expected to close in Q4 2021, with anticipated synergies in key sectors such as iGaming, travel, and digital goods.

Paysafe (NYSE: PSFE) announced the appointment of Chirag Patel as CEO of its Digital Wallets business, reporting to Group CEO Philip McHugh. Patel, an experienced payments executive, joins from Santander Group, where he launched a global payments platform. He replaces Lorenzo Pellegrino, who transitions to a strategic advisory role. Paysafe’s digital wallets, including Skrill and NETELLER, are used by 3.5 million consumers and processed $20.4 billion in payment volume in 2020. Patel aims to leverage Paysafe's technology to expand customer offerings.

Paysafe (NYSE:PSFE) has announced the acquisition of PagoEfectivo, a leading Peruvian alternative payments platform. This acquisition aims to strengthen Paysafe's position in the rapidly growing Latin American market, where alternative payment methods are in high demand.

PagoEfectivo, founded in 2009, enables eCash and online banking solutions for millions of users in Peru and Ecuador. The deal is expected to close by August, pending customary conditions. The integration of both teams is expected to enhance revenue opportunities across their international merchant bases.

Paysafe (NYSE: PSFE) announced the appointment of Mark Brooker as an independent non-executive board director effective July 22. Brooker, with extensive experience in the payments and iGaming sectors, previously held COO roles at Trainline and Betfair Group. He has significant financial industry experience from firms like Morgan Stanley and has served on several boards, including Findmypast and Future PLC. CEO Philip McHugh emphasized that Brooker's insights will be vital for Paysafe's growth strategy in the U.S. iGaming market and overall specialized payments innovation.

Paysafe Limited (NYSE:PSFE) will announce its second quarter 2021 financial results on August 16, 2021, prior to market open. A live webcast discussion will follow at 8:30 a.m. EDT, accessible via the investor relations section of the Paysafe website. The company facilitates seamless transactions across various payment types and currencies, boasting an annualized transactional volume of $92 billion in 2020 and around 3,400 employees in more than 12 locations globally.

Paysafe (NYSE: PSFE) has launched a new safeguarding solution for the travel industry, aiming to eliminate the need for cash collateral from travel operators. This innovative system allows consumer payments to be held by a third party, with funds released upon meeting agreed terms. Designed in collaboration with industry experts, the solution addresses liquidity concerns faced by travel businesses, particularly after COVID-19. It has been tested with select partners in Europe and promises to enhance consumer trust and support the travel sector's recovery. A whitepaper detailing the model has also been published.