Paysafe Limited Stock Price, News & Analysis

Paysafe has expanded its presence in the U.S. by entering the Kansas online sports-betting market, now supporting multiple sportsbooks with deposit options and affiliate marketing services. This marks the 23rd U.S. state where Paysafe operates, with forecasts predicting Kansas will generate $1.78 billion in sports-betting revenue in its first year. Earnings from this expansion are expected to contribute positively as Paysafe strengthens partnerships with major operators like Caesars, DraftKings, and PointsBet, enhancing player acquisition and retention capabilities.

Paysafe (NYSE: PSFE) has partnered with Spreedly to integrate its payment gateway into Spreedly's platform, enhancing payment processing services for merchants across the UK and Europe. This collaboration enables merchants to efficiently process card transactions in over 40 currencies, supporting a range of local payment methods. Initially focusing on eCommerce, retail, travel, crypto, and financial services, the partnership aims to expand into North America and Latin America. Paysafe's core business involves payment processing and digital wallet solutions, boasting over $120 billion in transactional volume in 2021.

Paysafe (NYSE: PSFE) has partnered with BlueBet Holdings Ltd. to integrate its Skrill USA digital wallet and Paysafecash solution into ClutchBet, a new mobile sportsbook operating in Iowa. This collaboration simplifies payment processes for sports betting, catering to player preferences with quick deposits and cash options. With the launch coinciding with the NFL season, ClutchBet aims to enhance the online wagering experience. The partnership is expected to expand into additional states including Colorado, Indiana, and Louisiana.

Paysafe (NYSE: PSFE) announced participation in key investor conferences this September. First, they will attend the Susquehanna Virtual Gambling and Technology Ecosystem Forum on September 7, 2022. Next, they will be featured in a fireside chat at the BMO Digital Banking Summit in Toronto on September 20, 2022, at 9:30 am ET. A replay of this chat will be available on the Paysafe Investor Relations website. Paysafe is a leading payments platform, processing over $120 billion in transactional volume annually, connecting businesses through over 100 payment types.

Research by Paysafe (NYSE: PSFE) reveals rising consumer concerns over online fraud, with 59% feeling more vulnerable than in 2021. 62% now see fraud as an inevitable risk, a jump from 45%. Despite this, 53% believe online payments are more secure year-on-year. The preference for security over convenience has increased, with 44% prioritizing safety when shopping online. Biometric security confidence is also growing, indicating a shift in consumer preferences as they navigate financial uncertainties.

Paysafe Ltd (NYSE: PSFE) announced the appointment of Alex Gersh as the new Chief Financial Officer, effective October 3, 2022. Gersh, who has over 25 years of financial leadership experience, replaces Izzy Dawood. Previously, he served as CFO at Sportradar, leading their successful IPO on NASDAQ. Gersh's expertise spans the gaming and entertainment sectors, positioning him to contribute significantly to Paysafe's growth strategy. CEO Bruce Lowthers expressed confidence in Gersh's ability to enhance value for stakeholders.

Paysafe (NYSE: PSFE) released a study today revealing that 80% of cryptocurrency owners wish to use their crypto for purchases, highlighting a significant gap in retailer acceptance. The research, based on responses from 3,000 crypto holders, indicates that retailers could unlock millions in revenue potential by accepting cryptocurrency payments. With an anticipated rise in crypto ownership—33.7 million US adults expected by year-end—91% of respondents believe crypto payments will soon be as common as card payments.

This trend offers retailers the chance to gain a competitive edge by adopting innovative payment solutions.

Paysafe Limited (NYSE: PSFE) reported its Q2 2022 financial results, revealing a 3% increase in Total Payment Volume to $33.4 billion, while revenue decreased by 1% to $378.9 million. The company faced a net loss of $631.5 million, reflecting a non-cash impairment charge of $676.5 million. Adjusted EBITDA dropped to $103 million, down 13% year-over-year. Despite challenges, strong performance in the US Acquiring segment showed a 14% revenue increase. The company revised its full-year revenue guidance due to macroeconomic uncertainties.

Paysafe, a prominent payments platform, has appointed Rob Gatto as its first Chief Revenue Officer (CRO). His role focuses on enhancing international sales in growth sectors like gaming, travel, and crypto. Gatto, a seasoned technology executive with extensive experience, will report directly to CEO Bruce Lowthers. His past achievements include co-founding Ureeka Inc. and holding significant roles in companies like Tubemogul and NeuStar. CEO Lowthers emphasized Gatto's ability to drive growth strategies, anticipating a positive impact on Paysafe's overall business transformation.