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June 5, 2018

Paysafe Group closes iPayment acquisition

Global payments provider Paysafe Group has completed the previously announced acquisition of iPayment Holdings.

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Based in the US, iPayment provides payment and processing solutions for small and medium-sized businesses.

In 2017, the company processed more than $25bn from around 137,000 merchant customers.

With the acquisition now being completed, the process to amalgamate iPayment with Paysafe’s North America payment processing organisation will begin.

Paysafe North America CEO Todd Linden will lead the combined entity, while iPayment’s former CEO O.B. Rawls IV and iPayment CFO Robert Purcell will take up new responsibilities within Paysafe.

This combination will also enable the combined company to enhance its product portfolio and cross-sell more products including POS solutions, digital wallets, pay later and prepaid solutions to a larger customer base.

Paysafe Group CEO Joel Leonoff said: “This strategic acquisition is a success on many levels for Paysafe. First, it follows our strategy of building on our strengths and growing our presence in the fast-growing SMB sector operating in the vast US market.

“Second, it allows us to cross-sell more of our leading payment products to an expanded customer base.

“Third, the addition of O.B. and Robert to our team brings us further leadership bench strength; they both have strong reputations for possessing the commercial acumen and customer-centric focus that we look for in Paysafe.”

The acquisition was first announced in April this year.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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