Paysafe Group Limited (formerly known as Optimal Payments PLC) is a multinational online payment company. The group offers services under the Paysafe brand and subordinates that have become part of the group through several mergers and acquisitions, notably Neteller, Skrill and paysafecard.
Paysafe is based in the Isle of Man and is regulated in the United Kingdom by the Financial Management Authority. The company was listed on the London Stock Exchange and FTSE 250 until it was acquired by the Blackstone Group and CVC Capital Partners in December 2017.
The company was created from a combination of Neteller PLC, Netbanx Ltd and Optimal Payments Limited. Netbanx was founded in 1996, Optimal Payments in 1997, and Neteller in 1999. In April 2004, Neteller PLC increased its initial public offering (IPO) on the London Stock Exchange.
In November 2005, Neteller PLC acquired Netbanx Ltd. In November 2008, Neteller PLC was renamed Neovia Financial PLC. In February 2011, Neovia Financial PLC acquired Optimal Payments in Montreal, Canada. Next month, Neovia Financial PLC changed its name to Optimal Payments PLC. At the beginning of 2012, it was found that the acquisition is a readmission with the cleanup of a number of executives along with the Chairman of the Board.
In July 2014, Optimal Payment PLC expanded its United States interests by purchasing Meritus Payment Solutions, a California payment processing company, and Global Merchant Advisors, Inc. US-based $ 235 million. In March 2015, Optimal Payments PLC found that it would acquire a competing Skrill group, including a paysafecard voucher provider, for a fee of approximately EUR 1.1 billion. In the same year Optimal Payments was named Paysafe Group.
The company moved to the London Stock Exchange’s main market in December 2015. On November 25, 2016, Paysafe Group, the owner of Neteller and Skrill, limited the use of the Master Plus prepaid card to countries under the Single Euro Payments Area (SEPA). . This left users in more than 100 countries unable to withdraw cash from an ATM, leaving no penalties, but buying with Neteller / Skrill business partners or transferring funds to a bank account.
In August 2017, it was announced that Paysafe would be sold to The Blackstone Group and CVC Capital Partners for £ 2.96 billion, making it the largest private capital taken over from London since the financial crisis of 2007-2008. . The acquisition was approved by the European Commission on 22 November 2017. On 21 December 2017, Paysafe was removed from the London Stock Exchange.
In April 2019, with the likelihood of an upcoming UK (UK) withdrawal from the European Union (EU), the “Brexit”, Paysafe announced its plans to prevent negative impacts on its customers and traders. If Brexit takes place, the company will transfer its business from the European Economic Area (EEA) to a newly established company based in Ireland. “Paysafe Payment Solutions Limited” is authorized and regulated as an electronic money institution by the Irish Financial Services Regulator, Central Bank of Ireland.
The Company provides the following products and services:
Neteller is an electronic money / digital wallet service that allows consumers to add, select and transfer funds to merchants and others. The Net + prepaid payment card available in eight currencies is primarily intended for use with Neteller and is accepted as a regular MasterCard.
Skrill is a product that allows you to make payments and money transfers over the Internet with a focus on cheap international money transfers.
paysafecard is a prepaid payment method that allows customers to make payments online without using a bank account or credit card information.
Payolution is an e-commerce payment solution with “buy now, pay later” service.
Fans Entertainment is a mobile business solution that offers mobile ordering.
IncomeAccess is an affiliate marketing and business intelligence provider.