The company provides the following products and services: That same month, the company also announced Bruce Lowthers would replace Philip McHugh as CEO and executive director from May 1, 2022. In April 2022, Paysafe announced a new partnership with US-based auto finance company Exeter Finance, allowing for eCash payments for US auto loans. In December 2020, the company announced that it had entered into a definitive agreement to merge with special-purpose acquisition company, Foley Trasimene Acquisition Corp, in a US$9 billion transaction. It was announced that the Openbucks team would become part of the parent company's eCash solutions group. In July 2020, it was announced that Paysafe bought payment gateway Openbucks for an undisclosed amount of money. Each company is authorized and regulated as an electronic money institution by the Irish financial services regulator, the Central Bank of Ireland. Since Brexit came into effect, the company has transferred its European Economic Area ( EEA) business to newly incorporated group companies based in Ireland, namely Paysafe Payment Solutions Limited and Paysafe Prepaid Services Limited. In April 2019, with the likelihood of the upcoming withdrawal of the United Kingdom (UK) from the European Union (EU), the so-called " Brexit", Paysafe Group announced their plans to prevent any negative effects for their customers and merchants. On 21 December 2017, Paysafe got delisted from the London Stock Exchange. The acquisition was approved by the European Commission on 22 November 2017. In August 2017, it was announced that Paysafe would be sold to a consortium of The Blackstone Group and CVC Capital Partners for £2.96 billion, making it the largest private equity backed takeover of a London-listed company since the financial crisis of 2007–2008. This left users in over 100 countries unable to withdraw cash from ATM's, which left no recourse but to make purchases with Neteller/Skrill merchant partners or transfer funds to a bank account. On 25 November 2016, Paysafe Group, owner of Neteller and Skrill, restricted the use of the Net+ Prepaid MasterCard to countries within the Single Euro Payments Area (SEPA). The company moved to the main market of the London Stock Exchange in December 2015. In the same year, Optimal Payments rebranded as Paysafe Group. In March 2015, Optimal Payments PLC revealed that it would acquire rival Skrill group, including pre-paid voucher provider paysafecard, for a fee of around €1.1 billion. In July 2014, Optimal Payment PLC expanded its United States interests by purchasing Meritus Payment Solutions, a California based payment processing company, and Global Merchant Advisors, Inc. In early 2012, the acquisition was revealed to be a reverse takeover with the purging of a number of the senior management along with the chairman of the board. Next month, Neovia Financial PLC changed its name to Optimal Payments PLC. In February 2011, Neovia Financial PLC acquired Optimal Payments of Montreal, Canada. In November 2008, Neteller PLC renamed itself to Neovia Financial PLC. In November 2005, Neteller PLC acquired Netbanx Ltd. In April 2004, Neteller PLC raised about $70 million in its initial public offering (IPO) on the London Stock Exchange. Netbanx was founded in 1996, Optimal Payments in 1997, and Neteller in 1999. The company was formed from the combination of Neteller PLC, Netbanx Ltd and Optimal Payments Limited. Paysafe then listed on the New York Stock Exchange on Ma(ticker PSFE) following a merger with special purpose acquisition company Foley Trasimene Acquisition Corp II. The company was listed on the London Stock Exchange and was a constituent of the FTSE 250 Index until it was acquired by a consortium of The Blackstone Group and CVC Capital Partners in December 2017. Securities and Exchange Commission and the Financial Conduct Authority. Various Paysafe group companies hold a number of licences from different national and state regulators including the U.S. Legally domiciled in Bermuda, Paysafe’s corporate headquarters are in the United Kingdom.
The group offers services both under the Paysafe brand and subsidiary brands that have become part of the group through several mergers and acquisitions, most notably Neteller, Skrill, Paysafecash and paysafecard. Paysafe Limited (formerly known as Optimal Payments PLC) is a multinational online payments company. US$2.905 billion ( Fiscal Year Ended 31 December 2020) US$7.021 billion ( Fiscal Year Ended 31 December 2020) US$–126.714 million ( Fiscal Year Ended 31 December 2020)
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