Paysafe has signed a global multi-year agreement with Amazon Web Services (AWS) to move online payments processing to the cloud.

The payment company will migrate its portfolio of mission critical workloads to AWS, including eCash solutions, paysafecard and Paysafecash.

It will also move its digital wallets, Skrill and NETELLER, to AWS to support growth and become a more-data driven organisation.

The move is expected to help Paysafe to develop new cloud-native merchant payment and consumer wallet products for its business and consumer customers.

In addition to helping accelerate customer acquisition and engagement, the cloud service will also help the payment firm to scale products and applications for its North American and European operations.

Paysafe CIO Roy Aston said: “Deploying AWS as one of our major cloud providers will bring wide-ranging benefits to our business, both in terms of scale and innovation.

“Our focus is to deliver new, innovative products and features into the marketplace twice as fast as before and also to scale, and expand our geographical footprint.”

Following its agreement with AWS, Paysafe is creating a centralised repository for its consumer and merchant data leveraging Amazon Simple Storage Service, AWS analytics, and AWS security.

Amazon Web Services Worldwide Financial Services Business Development managing director Scott Mullins said: “We are delighted to support Paysafe as they leverage AWS to offer frictionless customer experiences and uncover real-time insights.

“Paysafe continues to bring innovative payment solutions to market that help merchants rapidly develop and implement new products and meet evolving customer needs, and we look forward to our continued collaboration with them across their digital initiatives.”