Paysafe Limited Stock Price, News & Analysis

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.

Paysafe (NYSE: PSFE) has announced an expanded partnership with FOX Bet, enhancing its Michigan sportsbook's payment options with the integration of the Skrill digital wallet and paysafecard eCash solution. This collaboration builds upon Paysafe's long-standing relationship with Flutter Entertainment, integrating payment solutions across multiple states. With 40% of Americans using digital wallets monthly, this move is set to improve user experience for sports bettors in Michigan, providing secure deposits and quick payouts.

Paysafe Limited (NYSE: PSFE) announced the pricing of a US$931 million offering in senior secured notes, consisting of US$400 million of 4.00% notes and €435 million of 3.00% notes, both due in 2029. The offering is anticipated to close on June 28, 2021. Proceeds will be utilized to refinance existing debt. The offering is exclusively for qualified institutional buyers under Rule 144A and Regulation S of the Securities Act of 1933. The notes have not been registered under the Securities Act.

Paysafe Limited (NYSE: PSFE) announced plans for a US$1,026 million offering of senior secured notes due 2029, involving both U.S. dollar and euro-denominated notes. These notes will be fully guaranteed by an indirect subsidiary of Paysafe. The proceeds aim to refinance existing debts, with sales directed towards qualified institutional buyers in compliance with Rule 144A and Regulation S of the Securities Act of 1933. This offering raises potential risks, including significant market conditions and compliance with various regulations.