Users searching for a secure and reliable payment system often consider Paysafe, a provider with an excellent reputation. Millions of people know this company and use its service daily. The company has been operating in the market for over two decades, providing quick payment processing with maximum benefits.
The giant provider has a special focus on the entertainment sector but can also be used in many other industries.
Impact on iGaming Payments
Paysafe is constantly improving its products and services, implementing the latest innovations. It was among the first companies to connect bank cards and digital wallets which led to a seamless and efficient online payment experience for users worldwide, setting new standards for secure and convenient transactions.
The appearance and evolution of Paysafe Group significantly influenced the digital banking opportunities for millions of users. Currently, the company concentrates on the entertainment sector, and the iGaming market hasn’t become an exception. Online casino sites that take Paysafe payments are popular among players, as the payment options offered by the company are quick and convenient.
Paysafe implements cutting-edge technologies to provide smooth and secure money transfers. Huge gambling operators trust the company, so it won’t be challenging to find a platform accepting the company’s solutions. Such an approach has completely changed the entire sector: players can now enjoy instant deposits and withdraw funds with a few clicks.
The availability of mobile payment options is another success driver, showing the significance of the payment provider on the market. The company’s products are adapted for all devices, so it’s easy to proceed with transactions wherever a user is.
Following the latest trends and inventing the newest solutions are among the primary Paysafe goals – and the company successfully performs them. It is expanding its influence in the iGaming world, forming collaborations with the market leaders and providing the best services to customers and partners.
Paysafe’s History
The company is among the pioneers of digital payments – established in 1996, Paysafe has a long way to become one of the market leaders. Joel Leonoff, the founder, has been working as the company’s CEO since its inception until 2018. Currently, Dan Henson is the corporation’s chairman; moreover, Paysafe has recently hired Bruce Lowthers as CEO.
Now, the market leader has over 3,300 employees globally and its transaction volume reached $130 billion at the end of 2022. The company gained user attention in the development stage, but its further success changed the world. The enterprise started from a merger of Neteller PLC, Optimal Payments Limited, and Netbanx Ltd.
It was initially called Optimal Payments PLC – but it was rebranded only in 2015. After that, the corporation announced the acquisition of Skrill. Not many users know that it has been operating under Paysafe Group, but they actively use it for safe and quick payments.
The corporation never stops developing and launching new products and services to satisfy the market needs. Moreover, it constantly improves the existing ones to confirm their reputation as a leading payment provider.
Paysafe founder and Ownership
The company was established as a merger of several brands, but the first enterprise, Optimal Payments PLC, was founded by Joel Leonoff. He remained the CEO till 2018. He has over 20 years of experience in providing excellent payment solutions – which is definitely among the primary reasons for the corporation’s success.
In 2018, Leonoff passed to the position of Vice Chairman of the Board; Bruce Lowthers replaced the long-term Paysafe CEO. Currently, Paysafe’s largest shareholders include BlackRock Fund Advisors, Adage Capital Management LP, SSgA Funds Management, Inc., and Dimensional Fund Advisors LP.
Products and Services
Paysafe Group is among the most popular payment providers in the iGaming industry. The corporation provides numerous solutions for individual use and businesses. For instance, users involved in gaming activities often utilise Skrill, Neteller, and Paysafecard, which are the most widespread company products. Here are more brands operating under Paysafe Group:
- Viacash is the biggest independent payment infrastructure, allowing to proceed with an instant deposit or withdrawal using a barcode.
- Income Access is a digital marketing agency specialising in affiliate marketing.
- PaysafeCash is the quickest and most reliable way to transfer cash online and proceed with digital payments.
- PetroleumCardServices is the leader in providing processing solutions for gas stations and other petroleum industry players.
The company’s products are diverse, as broader market coverage is among its primary goals. Even though the brands listed above are not as popular as Skrill, Paysafecard, and Neteller, many enterprises and individuals worldwide use them. As already mentioned, Paysafe Group primarily targets the entertainment sector.
Other industries the company serves include marketing, education, petroleum, property management, retail, e-commerce, and many more. Paysafe aims to connect businesses and customers and provide smooth transactions through multiple means. Flexibility and global reach are what the company can offer – and millions of people confirm that this approach worked.
Paysafe partnerships and Collaborations
Paysafe collaborates with numerous leading corporations to expand its impact and improve payment services globally. It forms partnerships with global brands, including Visa, Google, and Microsoft, among many others, aiming to create innovative solutions targeting users and businesses in numerous countries.
The brands strongly interconnect to improve their services and make them more accessible to every user. The possibility to download an app with a few clicks, choose a payment option, and quickly transfer funds from a bank card to an e-wallet is beneficial in the iGaming sector.
The company is proud to work with the market giants and grow together. Therefore, Paysafe constantly expands existing collaborations and works on new ones.
The Final Word
Paysafe has remained the global payment leader for years – and the demand for its products and services is growing, respectively. Multiple reviews from the company’s partners confirm its reputation and undeniable impact on the iGaming industry. Paysafe is one of the best gambling payment methods in the industry.
The giant started from a small enterprise established in 1996 – and a series of mergers and acquisitions transformed it into one of the largest corporations. It has passed a long way to be where it is now – but Paysafe doesn’t take breaks. The Group constantly works on more innovative solutions, connecting businesses and customers and providing them with the best services.