Paysafe boosted by international growth

Paysafe boosted by international growth

Monday, January 11, 2016 Totally Gaming
Joel Leonoff described 2015 as a "transformational" year

Paysafe Group’s share price was up by more than 2 per cent early this morning (Monday) after the payment processor said that it expects to have almost doubled its adjusted earnings in 2015.

The owner of the Neteller and Paysafecard brands said that it is set to announce figures of around $150m (€137.6m) for the year to December 31, 2015, compared to $85m in 2014, when it releases its final results in March.

Revenue for the year is expected to be $600m, some 64 per cent greater than the $365.0m recorded in 2014, with improved performance in North America a key part of the success according to the company. 

The growth comes on the back of the $1.2bn purchase of Neteller owner Skrill during the calendar year, with Paysafe also adding that synergy savings are expected “to be towards the top end” of the previously announced $5-10m range for H2 2015.

Paysafe president and chief executive Joel Leonoff said: “This has been a transformational year for our business.

“Revenue and underlying earnings have grown strongly and the Skrill acquisition significantly enhances our global scale. The group is now operating in more markets and geographies than ever before.”

The group added that it expects to be considered for inclusion in the FTSE 250 Index at the March 2016 index review.

“We are delivering on the targets we set ourselves as part of our strategy to create a payments powerhouse across digital wallets, payment processing and prepaid products and service," Leonoff said.“Our positive momentum, which continued through the fourth quarter, provides a strong foundation as we head into the new financial year.”

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