Paysafe Limited Stock Price, News & Analysis

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.

Paysafe Limited (NYSE: PSFE) will announce its second quarter 2022 financial results on August 10, 2022, before the market opens. A live webcast will follow at 8:30 a.m. ET to discuss the results, accessible on the Paysafe Investor Relations website. Paysafe is a leading specialized payments platform, processing over $120 billion in transactions annually with a robust support team of approximately 3,500 employees across more than 10 countries.

Paysafe (NYSE: PSFE) has entered the Arkansas mobile sports-betting market through its partnership with BetSaracen, the sportsbook from Saracen Casino Resort. The integration of Skrill USA digital wallet enables instant deposits and withdrawals for players. This partnership marks Arkansas as the 22nd U.S. state where Paysafe operates. Bettors can easily fund their accounts via bank transfers, debit, or credit cards. Paysafe aims to expand its market footprint, leveraging local partnerships to enhance user experience in online wagering.

Paysafe (NYSE: PSFE) has integrated Mastercard Send into its payments platform, enhancing payout capabilities for merchants in the UK and EU. This partnership aims to support fast, secure international and domestic transactions, particularly benefiting small businesses and specialized industries like e-commerce. The integration is timely as 61% of online businesses have accelerated their payment options due to changing consumer preferences since the pandemic. Merchants will have access to automatic reconciliations and customizable reports through this enhancement.

Paysafe (NYSE: PSFE) research reveals that 67% of U.S. consumers actively use contactless payments, a significant shift since early 2020. The study, conducted by Sapio Research in April 2022 with 2,000 participants, shows 39% of Americans have permanently altered their payment methods. Additionally, preferences vary based on purchase size: cash is favored for small items, while debit and credit cards dominate larger purchases. CEO Afshin Yazdian emphasizes the necessity for merchants, especially SMBs, to adapt by providing diverse payment options to enhance customer relationships.