Optimal back on track after data disclosure

Optimal back on track after data disclosure

Tuesday, November 3, 2015 Totally Gaming
Optimal has seen its share price recover after last week's report

Optimal Payments looks to be back on track after what a company source described as an “over-reaction” to last week’s reports of a breach of customer data.

The online payment processor – which owns the Neteller and Paysafecard brands – saw its share price drop by 17 per cent in a matter of hours last Thursday after allegations that customer data had been acquired.

However, the source told TotallyGaming.com that, while Optimal has informed both the Information Commissioner and the Financial Conduct Authority (FCA), further investigations showed that the data was several years old and contained information such as email addresses rather than more private financial details. It is thought that the data which was available related to previously-reported data breaches in 2010 and 2011, both of which were investigated some years ago, with market reaction prejudiced by the coverage of the serious breach at telecoms provider TalkTalk.

Late on Tuesday, Optimal was again trading at 335.50p – a price just below its figures of a week ago – following big leaps over the last few days.

Optimal is still hoping to be admitted to the main market of the London Stock Exchange by the end of this year after its £870m ($1.10bn/$1.23bn) reverse takeover of rival Skrill earlier this year. The company will become known as Paysafe Group following next week’s capital markets day, with the change having been approved by shareholders in September. 
 

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