Empowering businesses and consumers to connect

Empowering businesses and consumers to connect

Friday, January 20, 2017
Paysafe's Lorenzo Pellegrino says the firm aims to bring added value

Listed payments firm Paysafe will be out in force at next month’s ICE Totally Gaming show with a range of services and brands arguably wider than any other payment provider in the exhibition. 

Paysafe Group plc is a technology company that provides online and mobile payment services. It delivers end-to-end payment solutions - from card issuing to acquiring; from payment gateways to merchant accounts; from fraud and risk management to compliance; from digital wallets and online invoicing to mobile.

However, the firm does more than process a payment - it also offers merchants and partners a unique suite of processing solutions including access to a global payment network with just one partnership.

Lorenzo Pellegrino, CEO Digital Wallets at Paysafe, explained: “One of the distinguishing characteristics of the Paysafe business which sets us apart is our large and engaged customer ecosystems – across both merchants, consumers and affiliates as well as online buyers and sellers. We work to empower businesses and consumers to buy, sell, send, store and receive their money, where they want, when they want and how they want.

“We’re always looking to bring more value to the table for gambling and e-forex companies. As we focus on pushing into new markets and verticals, we essentially seek to understand what the unique and evolving needs are for payments as well as where the opportunities are to create greater engagement within our current product offering.”

And the Paysafe offering is extensive, offering solutions for both businesses and consumers. On the business side, the Payment Processing division leverages its award-winning payment gateway and processing engine to help merchants accept and process payments. The division comprises the Group’s core payment processing services including GMA and MeritCard Solutions as well as payolution, Acquiring and FANS Entertainment.

payolution, with operations in central Europe, enables merchants to provide their customers with the ability to buy online and then pay later after receipt of the goods or via a prearranged payment plan. This is Paysafe’s foray into online credit which is becoming a hot topic in the payments world.

Acquiring, which launched at the end of 2014, has principle membership status for merchant acquiring with MasterCard Europe and Visa Europe. The service, which can process more than 140 currencies, enables merchants to offer their customers a diverse set of payment and billing options without requiring a separate banking acquiring partner.
FANS Entertainment is a mobile e-commerce platform developer and integrator. Through FANS Paysafe is working to offer innovative value-added mobile services to our merchants and clients. This includes GOLO – a new mobile ordering platform designed to empower local merchants to generate local business with click & collect or home delivery services, providing them with additional revenue streams and a powerful customer insight platform enabling them to tailor their promotions to their local customers.

The Digital Wallets division comprises the NETELLER and Skrill digital wallet services, affiliate technology provider Income Access, as well as Paysafe’s Issuing or Card Solutions business.

On the consumer solutions side of things, Paysafe’s flagship NETELLER and Skrill digital wallets enable millions of consumers to safely spend, store, send and receive their money online and now provide merchants with more than 100 payment options via one simple integration in more than 40 different currencies and 18 languages. Skrill and NETELLER+ prepaid cards allow consumers to access their funds at ATMs and on the high street without restriction, making it a popular choice with high-value customers.

Meanwhile the Prepaid division comprises paysafecard, acquired by Skrill in 2013. From its base in Austria, this provider of cash vouchers enables consumers to convert cash into digital currency and to pay online quickly, easily and safely. Cash remains an essential part of billions of consumers’ lives – and our prepaid solution uniquely enables consumers who prefer to use cash to transact safely online.

Consumers do not need to own a bank account or a credit card to pay with paysafecard, so it meets the needs of a large, distinct yet underserved demographic who use our digital currency to transact at thousands of ecommerce outlets.

Pellegrino added that the structure of Paysafe is geared towards some of the unique needs of the gaming and e-forex industry. “For example, we are unique in that we have a VIP team which works closely with NETELLER and Skrill to move funds to various gaming and forex online businesses.

Many people were surprised when the payments company acquired affiliate technology company Income Access last August, given that it was not an obvious, or signposted, pairing. Pellegrino explained that the acquisition provided Paysafe with a wider audience to expand its reach and influence.

He added: “It embeds our relationship with merchants as a preferred payment service provider for their affiliate payments and allows us to expand our collaborative marketing efforts to drive new customer acquisition & conversion. Payments play such a pivotal role in digital transactions, both between operator and customer, as well as between operator and affiliate. It also leverages affiliate relationships to expand revenue-driving activity both in and outside the iGaming space.”

And the company has big ambitions for the coming year. Pellegrino concluded: “Across the group we are working on the launch of a common Paysafe payment technology platform which will see all of our products and functionality, developed organically and via acquisitions, consolidated into one place. Because of the breadth of what we cover, when we’re meeting with gambling companies we can talk about NETELLER, Skrill, Income Access and processing, as well as AML, KYC and affiliate management.”

To find out more about Paysafe visit stand N6-330 at the ICE Totally Gaming Exhibition on 7-9 February 2017.

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