Paysafe and Playtech Form Global Payments Partnership
May 09, 2022 —
paysafe (NYSE: PSFE), a leading specialty payments platform, today announced a new global partnership with playtech (LSE: PTEC), the world leader in gambling technology. The new agreement represents an extension of an existing partnership between the two companies in the UK and Europe from the US, where Playtech offers Paysafe’s leading payment solutions to iGaming operator customers through its platform. technological.
Through a unique and simplified global integration with Paysafe’s API, operators in the UK and Europe will now also be able to take advantage of Playtech’s iGaming PAM, Information Management Solution (IMS) to access a range of payment solutions from Paysafe, starting with payment acquiring and card processing, with Paysafe’s digital wallet services expected to follow. The integration helps maximize consumer choice by giving players all the payment methods they want to pay for when betting online.
The extension of the partnership follows the successful integration of Paysafe and Playtech in the United States with betPARX®. Paysafe powered the gaming operator’s traditional and alternative payment solutions for its iGaming brand Play Gun Lake in Michigan since the second quarter of 2021 and, from the first quarter of 2022, for its betPARX iGaming application and sports betting for both Pennsylvania and New Jersey.
Both founded in the late 1990s, Paysafe and Playtech bring together over 40 years of combined industry experience and a deep understanding of iGaming regulations across audiences and markets. With a technology-driven heritage, both companies are focused on driving new innovations that deliver the ultimate gamer experience and are designed to support partner business growth.
Paulette Rowe, CEO of Integrated and e-Commerce Solutions at Paysafe, said: “Playtech is an exciting global gaming brand that is committed to providing its operators with a frictionless payment experience. We have had great success rolling out our collaboration across multiple US state markets and are excited to expand into the UK and Europe via the same unique technology integration. Bringing together our respective capabilities, deep expertise and understanding of the international iGaming, technology and payments industries is an incredibly powerful combination, and I look forward to helping the Playtech team further grow their business across new European markets.
Shimon Akad, Chief Operating Officer at Playtech, added, “Offering our iGaming partners cutting-edge technologies that deliver the smoothest and most engaging experience to their customers is absolutely at the core of our strategy at Playtech. Payments plays an important role in delivering the ultimate player journey and requires an experienced team with expert knowledge, which is where Paysafe is the perfect partner for us. We are extremely pleased with how our relationship in the US is developing and are really excited about what we can achieve together in the UK and Europe.
About Paysafe Limited
Paysafe Limited (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a leading specialist payment platform. Its main objective is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet and online payment solutions. With over 20 years of online payment experience, an annualized transaction volume of US$120 billion in 2021, and approximately 3,500 employees located in more than 10 countries, Paysafe connects businesses and consumers across 100 types payment in more than 40 currencies around the world. Delivered through an integrated platform, Paysafe solutions are geared towards mobile-initiated transactions, real-time analytics and convergence between physical and online payments. Further information is available at www.paysafe.com.
About Paysafe iGaming
Paysafe brings over two decades of specialist payments experience to the global iGaming and sports betting industries and provides operators with a full suite of traditional and alternative payment methods through a single, streamlined API integration. Paysafe is also a leader in digital and affiliate marketing technologies and services for iGaming operators through its Income Access business unit.
Since the opening of the US iGaming market in May 2018, Paysafe has consistently affirmed its ambitions to be the payments leader in the growing industry, building on its leadership in Canada and Europe. As of May 9, 2022, the company supports 75% of operators in the country with payment or marketing solutions in 21 jurisdictions. In Canada, Paysafe also holds a leadership position and partners with the majority of iLottery and regulated gaming brands.
Founded in 1999 and listed on the Main Market of the London Stock Exchange, Playtech is a technology leader in the gaming and financial trading industries with over 7,000 employees in 24 countries.
Playtech is the gaming industry’s leading technology company providing business intelligence-based gaming software, services, content and platform technology in the industry’s most popular product verticals , including casino, live casino, sports betting, virtual sports, bingo and poker. It pioneers omnichannel gaming technology through its integrated platform technology, Playtech ONE. Playtech ONE offers data-driven marketing expertise, unique wallet functionality, CRM and responsible gaming solutions on a single platform across product verticals and in retail and online.
Playtech partners with and invests in leading brands in regulated and newly regulated markets to deliver its data-driven gaming technology across the retail and online value chain. Playtech provides its technology on a B2B basis to the industry’s leading retail and online operators, land-based casino groups and government-sponsored entities such as lotteries. Playtech directly owns and operates Snaitech, the leading online and retail sports betting and gaming company in Italy.
Playtech also owns Finalto, a technology leader in the CFD and financial trading industry that operates on both a B2B and B2C basis. Finalto has been classified as a discontinued operation since December 31, 2020.