Paysafe

Corporate brand

A global payments company providing digital wallets, payment processing, prepaid products, and cash-based online payment methods.

Last updated August 31, 2026

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Overview

Paysafe is a multinational payments company whose services connect consumers, merchants, online platforms, and financial institutions. The group operates across digital wallets, payment processing, prepaid payment products, and eCash. Its portfolio includes the Skrill and Neteller digital wallets, PaysafeCard and PaysafeCash, and alternative-payment platforms such as SafetyPay and PagoEfectivo. It has developed particular expertise in online and digital entertainment, including sectors such as gaming, sports betting, and other merchant categories that can require specialized payment capabilities, risk controls, and access to non-card payment methods. The business originated through the combination of several payments companies rather than from a single operating entity. Netbanx was founded in 1996, Optimal Payments in 1997, and Neteller in 1999. Neteller became publicly listed in London in 2004 and subsequently acquired Netbanx. After changing its name to Neovia Financial, the group acquired Optimal Payments in 2011 and adopted the Optimal Payments name shortly afterward. The company then expanded its merchant-acquiring and payment-processing operations in the United States through the acquisition of Meritus Payment Solutions and Global Merchant Advisors in 2014. A major transformation occurred in 2015, when Optimal Payments acquired the Skrill group, including the paysafecard prepaid voucher business. The combined company adopted the Paysafe name, bringing wallets, merchant processing, prepaid vouchers, and related payment technologies under one group. Paysafe moved to the main market of the London Stock Exchange later that year. It was acquired in 2017 by an investment consortium led by Blackstone and CVC Capital Partners and was delisted from London in December of that year. Paysafe subsequently reorganized parts of its European operations in response to the United Kingdom's withdrawal from the European Union. European Economic Area activities were transferred to Irish group companies authorized and regulated as electronic-money institutions by the Central Bank of Ireland. The group also expanded its eCash portfolio, including the 2020 acquisition of Openbucks, and continued adding alternative payment capabilities in Latin America and other markets. In 2021, Paysafe returned to the public markets in the United States through a merger with Foley Trasimene Acquisition Corp. II and began trading on the New York Stock Exchange under the symbol PSFE. The company remains a payments infrastructure and consumer-finance technology provider, combining branded consumer products with merchant-facing processing, payment orchestration, affiliate marketing, and business-intelligence services. Its competitive proposition is based on offering merchants access to multiple payment rails and consumers ways to pay or transfer money without relying exclusively on conventional bank cards.

History

Paysafe developed through successive combinations of payment businesses. Netbanx began operations in 1996, Optimal Payments was established in 1997, and Neteller was founded in 1999. Neteller PLC became a public company on the London Stock Exchange in April 2004. In November 2005, Neteller acquired Netbanx, bringing together consumer wallet and merchant-processing capabilities. Neteller PLC changed its name to Neovia Financial in 2008. In February 2011, Neovia acquired Optimal Payments, a Montreal-based payments company, and changed its own name to Optimal Payments PLC the following month. The transaction was later described as a reverse takeover that brought significant changes to the group's senior management and board leadership. Optimal Payments expanded its United States presence in July 2014 by acquiring Meritus Payment Solutions and Global Merchant Advisors. In March 2015, it announced the acquisition of the Skrill group, including the paysafecard prepaid voucher business, for approximately €1.1 billion. The enlarged business was rebranded Paysafe Group during 2015 and moved to the main market of the London Stock Exchange in December of that year. The transaction established the portfolio structure that remains associated with Paysafe: digital wallets through Skrill and Neteller, prepaid and eCash products through paysafecard and related services, and merchant-processing capabilities under the wider group. In November 2016, Paysafe changed the geographic availability of the Net+ Prepaid Mastercard, restricting it to countries in the Single Euro Payments Area. The measure affected customers outside that area who had used the product for withdrawals and other card transactions. In August 2017, Paysafe agreed to a purchase by a consortium involving Blackstone and CVC Capital Partners. The European Commission cleared the transaction in November, and Paysafe was delisted from the London Stock Exchange on December 21, 2017. The company continued operating as a privately held payments group while adapting its regulatory structure to Brexit. In 2019, it announced that its European Economic Area business would be transferred to Irish entities, Paysafe Payment Solutions Limited and Paysafe Prepaid Services Limited. These entities operate under authorization and supervision as electronic-money institutions by the Central Bank of Ireland. Paysafe broadened its eCash capabilities by acquiring Openbucks in 2020. Later that year, it agreed to combine with Foley Trasimene Acquisition Corp. II, a special-purpose acquisition company. The transaction was completed in 2021, and Paysafe became publicly traded on the New York Stock Exchange on March 31 under the ticker PSFE. In 2022, the company announced a leadership transition from Philip McHugh to Bruce Lowthers, effective May 1. It also announced an eCash partnership with Exeter Finance for payments on United States auto loans. Today, Paysafe combines consumer-facing wallets, prepaid and cash-based payment tools with merchant acquiring, payment processing, alternative-payment infrastructure, and affiliate-marketing services. Its brands serve online commerce and specialized industries across multiple geographic regions, while regulatory permissions are held by different entities within the group.

2022
Bruce Lowthers becomes chief executive
[1]Paysafeen.wikipedia.org
Bruce Lowthers succeeds Philip McHugh as chief executive and executive director.
2021
New York Stock Exchange listing
[1]Paysafeen.wikipedia.org
Paysafe begins trading on the New York Stock Exchange following its merger with Foley Trasimene Acquisition Corp. II.
2020
Openbucks acquisition
[1]Paysafeen.wikipedia.org
Paysafe acquires Openbucks to strengthen its eCash solutions.
2019
European business moves to Irish regulated entities
[1]Paysafeen.wikipedia.org
Paysafe transfers relevant European Economic Area activities to Irish electronic-money institutions in response to Brexit-related regulatory requirements.
2017
Paysafe is taken private
[1]Paysafeen.wikipedia.org
A Blackstone and CVC-led consortium acquires Paysafe, which is subsequently delisted from London.
2015
Skrill acquisition and Paysafe rebrand
[1]Paysafeen.wikipedia.org
Optimal Payments announces the acquisition of Skrill, including paysafecard, and adopts the Paysafe Group identity.
2014
United States processing expansion
[1]Paysafeen.wikipedia.org
Optimal Payments acquires Meritus Payment Solutions and Global Merchant Advisors to expand its United States merchant-processing business.
2011
Optimal Payments becomes the group identity
[1]Paysafeen.wikipedia.org
Neovia Financial acquires Optimal Payments and subsequently adopts the Optimal Payments name.
2005
Neteller acquires Netbanx
[1]Paysafeen.wikipedia.org
The acquisition combines Neteller's wallet business with Netbanx payment-processing capabilities.
2004
Neteller completes London IPO
[1]Paysafeen.wikipedia.org
Neteller PLC raises approximately $70 million through an initial public offering on the London Stock Exchange.
1999
Neteller is founded
[1]Paysafeen.wikipedia.org
Neteller is established as an electronic-wallet and online-payment business.
1997
Optimal Payments is founded
[1]Paysafeen.wikipedia.org
Optimal Payments begins operations as a payments company.
1996
Netbanx is founded
[1]Paysafeen.wikipedia.org
Netbanx, one of the businesses that later formed part of Paysafe, is established.

Products and positioning

A global alternative-payments and merchant-services platform serving online businesses and consumers, with strong capabilities in digital wallets, prepaid products, eCash, and specialized entertainment markets.

Digital wallet and money transfer
Skrill
Skrill is a digital wallet and online money-transfer service used for merchant payments, peer-to-peer transfers, and international remittances. The product is positioned around online convenience and cross-border transfers, and forms one of Paysafe's principal consumer-facing brands.
Digital wallet · 1999
Neteller
Neteller enables consumers to deposit, withdraw, and transfer funds with online merchants and other users. Its associated Net+ prepaid card can be used for card payments and, where available, cash withdrawals, providing a link between the wallet balance and conventional card acceptance.
Prepaid voucher and eCash
PaysafeCard
PaysafeCard is a prepaid voucher-based payment method that allows consumers to pay online without disclosing bank-account or credit-card details to the merchant. It is distributed through retail and digital channels and is particularly useful for consumers seeking cash-based or controlled-spending payment options.
eCash
PaysafeCash
PaysafeCash supports online payments funded through cash or participating retail payment points. It gives consumers who do not use cards or bank accounts a way to complete digital-commerce transactions through an offline cash component.
Open banking and eCash
SafetyPay
SafetyPay is an alternative-payments platform with roots in Latin America. It provides merchants with open-banking and eCash options intended to support consumers who prefer bank-transfer or cash-based payment methods over cards.
Alternative payment method
PagoEfectivo
PagoEfectivo is a Peru-based alternative-payment platform that enables online purchases through locally relevant cash and account-based payment methods. It is part of Paysafe's Latin American payment portfolio.
Cash access infrastructure
viacash
viacash allows users to deposit or withdraw cash from digital bank accounts at participating retail locations, typically using a barcode or similar digital authorization.
Affiliate marketing and business intelligence
Income Access
Income Access provides affiliate-marketing technology and business-intelligence tools for merchants and online businesses, complementing Paysafe's payment services with customer-acquisition and analytics capabilities.

Marketing campaigns

2018Dale Coyne Racing sponsorship
United States
Paysafe sponsored the No. 19 Dale Coyne Racing Honda in the 2018 Verizon IndyCar Series, associated with drivers Zachary Claman DeMelo and Pietro Fittipaldi.
Outcome. Motorsport sponsorship for the 2018 series.
Source
2014Crystal Palace sponsorship
United Kingdom
Optimal Payments sponsored Crystal Palace Football Club during the 2014–15 and 2015–16 seasons, with the Neteller brand displayed on the front of the team's shirts.
Outcome. Completed sponsorship arrangement.
Source

Brand decisions

2022
Appoint Bruce Lowthers as chief executiveOther
Background
Paysafe announced a transition in its senior leadership.
Action taken
Bruce Lowthers replaced Philip McHugh as chief executive officer and executive director effective May 1, 2022.
Aftermath
Lowthers became the group's chief executive during its period as a New York-listed public company.
Source
2020
Acquire OpenbucksM&A
Background
Paysafe aimed to expand its eCash capabilities and merchant-access network.
Action taken
Paysafe acquired payment gateway Openbucks for an undisclosed amount.
Aftermath
The Openbucks team joined Paysafe's eCash solutions group.
Source
2020
Merge with Foley Trasimene Acquisition Corp. IIM&A
Background
Paysafe pursued a return to public markets through a special-purpose acquisition company.
Action taken
The company entered into a definitive merger agreement with Foley Trasimene Acquisition Corp. II.
Aftermath
The transaction led to Paysafe's New York Stock Exchange listing in March 2021.
Announced transaction value. Approximately US$9 billion (2020 announcement)
Source
2017
Take-private acquisition by Blackstone and CVCM&A
Background
Paysafe was a London-listed payments group with a growing international portfolio.
Action taken
A consortium involving Blackstone and CVC Capital Partners agreed to acquire the company.
Aftermath
The transaction was approved by the European Commission and Paysafe was delisted from the London Stock Exchange in December 2017.
Acquisition value. Approximately £2.96 billion (2017 announcement)
Source
2015
Acquire Skrill GroupM&A
Background
Optimal Payments sought to broaden its consumer-wallet and prepaid-payment portfolio.
Action taken
The company announced the acquisition of Skrill Group, including paysafecard, for approximately €1.1 billion.
Aftermath
The enlarged group adopted the Paysafe name and combined wallet, prepaid, eCash, and merchant-payment activities.
Acquisition consideration. Approximately €1.1 billion (2015 announcement)
Source

Recent events

2022
Paysafe appoints Bruce Lowthers as chief executive[1]Paysafeen.wikipedia.org
Leadership change
Bruce Lowthers succeeded Philip McHugh as chief executive officer and executive director, effective May 1, 2022.
2022
Paysafe partners with Exeter Finance for eCash loan payments[1]Paysafeen.wikipedia.org
Other
Paysafe announced a partnership enabling customers of Exeter Finance in the United States to make auto-loan payments through eCash channels.
2022
Bruce Lowthers appointed chief executive officer[1]Paysafeen.wikipedia.org
Leadership change
Paysafe announced that Bruce Lowthers would succeed Philip McHugh as chief executive officer and executive director, effective May 1, 2022.
2022
Paysafe partners with Exeter Finance for eCash auto-loan payments[1]Paysafeen.wikipedia.org
Campaign
Paysafe announced a partnership with U.S. auto-finance company Exeter Finance to enable eCash payments for auto loans.
2021
Paysafe returns to the New York Stock Exchange[1]Paysafeen.wikipedia.org
M&A
The merger with Foley Trasimene Acquisition Corp. II was completed, and Paysafe began trading on the New York Stock Exchange under the ticker PSFE on March 31.
2020
Paysafe acquires Openbucks[1]Paysafeen.wikipedia.org
M&A
Paysafe acquired payment gateway Openbucks and integrated its team into the group's eCash solutions organization.
2020
Paysafe announces merger with Foley Trasimene Acquisition Corp. II[1]Paysafeen.wikipedia.org
M&A
Paysafe announced a definitive agreement to combine with the special-purpose acquisition company Foley Trasimene Acquisition Corp. II, creating the basis for a United States public listing.
2019
Paysafe reorganizes European operations after Brexit[1]Paysafeen.wikipedia.org
Regulation
The group announced plans to move European Economic Area activities into Irish subsidiaries authorized as electronic-money institutions in preparation for the United Kingdom's departure from the European Union.
2019
Paysafe announces Irish structure for EEA activities after Brexit[1]Paysafeen.wikipedia.org
Regulation
Paysafe announced plans to move European Economic Area business to Irish group companies, including Paysafe Payment Solutions Limited and Paysafe Prepaid Services Limited, each authorized as an electronic money institution by the Central Bank of Ireland.
2018
Paysafe sponsors Dale Coyne Racing in the IndyCar Series[1]Paysafeen.wikipedia.org
Campaign
Paysafe became a sponsor of the No. 19 Dale Coyne Racing Honda, shared during the season by Zachary Claman DeMelo and Pietro Fittipaldi.

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