Acquisition accelerates Paysafe’s growth in
Germany and other key markets where consumers continue to move away
from the legacy banking system.
Paysafe (NYSE:PSFE), a leading specialised payments platform,
today announced that it has completed its acquisition of
market-leading German fintech company, viafintech. viafintech,
known under the brand viacash, offers one of the largest
bank-independent alternative payments infrastructures in Europe,
allowing a popular alternative to the traditional banking system.
For Paysafe, the investment allows it to expand in critical markets
and position itself as the essential payments partner to challenger
banks around the world.
viafintech was founded in 2011 and integrates with digital
banking apps to offer an innovative “mobile ATM” concept which
enables consumers to make deposits or withdraw cash from their
digital bank accounts at a nearby retail store using a barcode;
something that is becoming increasingly popular in the region as
bricks and mortar bank branches close and fast-growing challenger
banks and digital wallets disrupt the market. viafintech solutions
are also used widely for bill payments and credit pay-outs, as well
as for online shopping in general, supporting millions of consumers
in the region who don’t have bank accounts, or who simply prefer
the heightened security of using eCash to pay online.
The integration process will now commence with viafintech’s
team, including managing directors, Sebastian Seifert, Achim
B�nsch and Andreas Veller, becoming part of Paysafe’s
expanding eCash solutions’ team which is headed up by Paysafe eCash
CEO, Udo Müller.
Udo Müller, CEO of Paysafe’s eCash division, commented:
“This is a very exciting acquisition for Paysafe. By combining
viafintech’s leading payment solutions with our own eCash and
alternative payment portfolio, we are very well positioned as an
essential payments partner to challenger banks around the world.
This comes at a crucial point in time as we experience a consumer
shift away from the legacy banking system and more and more
challenger banks are entering the market and offering mobile-based
solutions for banking and payments.”
Sebastian Seifert, Co-founder and Managing Director of
viafintech, added: "Becoming part of the Paysafe Group will
help us to build on our business achievements to date and
accelerate our future growth as Europe’s number one, non-banking,
cash-in/cash-out infrastructure. We are excited to be starting this
next chapter and doubling our efforts to strengthen financial
inclusion and shift away from legacy banking."
#ENDS#
About Paysafe Limited
Paysafe Limited (“Paysafe”) (NYSE:PSFE) (PSFE.WS) is a leading
specialised payments platform. Its core purpose is to enable
businesses and consumers to connect and transact seamlessly through
industry-leading capabilities in payment processing, digital
wallet, and online cash solutions. With over 20 years of online
payment experience, an annualised transactional volume of US $100
billion in 2020, and approximately 3,400 employees located in 12+
global locations, Paysafe connects businesses and consumers across
70 payment types in over 40 currencies around the world. Delivered
through an integrated platform, Paysafe solutions are geared toward
mobile-initiated transactions, real-time analytics and the
convergence between brick-and-mortar and online payments. Further
information is available at www.paysafe.com.
About Paysafe’s eCash Division
Paysafe is a global market leader in the provision of eCash
payment solutions. The goal of its eCash division is to target
simple and secure online transactions through prepaid and online
cash solutions. Today, it is available to purchase in over 650,000
sales outlets in over 50 countries and its brands include
paysafecard, paysafecard account, paysafecard Mastercard® and
Paysafecash.
Its original product, paysafecard, uses a 16-digit PIN and
enables customers to shop online without using an account or credit
card, protecting their confidential financial information. In 2018,
the paysafecard team developed Paysafecash allowing customers to
shop online first and then pay securely for their purchases with
cash at convenient, nearby payment points. Paysafecash is already
available in nearly 30 countries. In 2020, paysafecard and
Paysafecash reached a transaction volume of more than US$ 4.6
billion.
For more information, please go to www.paysafecard.com
About viafintech
viafintech was founded in 2011 and is headquartered in Berlin,
Germany.
The company integrates with digital banking apps to offer an
innovative “mobile ATM” concept which enables consumers to make
deposits, transfers or withdraw cash from their digital bank
accounts at a nearby retail store using a barcode. viafintech
solutions are also used widely for bill payments and credit
payouts, as well as for online shopping in general, supporting
millions of consumers in the region who don’t have bank accounts,
or who simply prefer the heightened security of using eCash to pay
online.
A market leader in Germany, viafintech also has a presence
in five other European countries where
it is known under the brands of Barzahlen/viacash (in Germany and
Austria), and viacash (in Switzerland, Italy, Greece and Spain). It
operates via a network of 20,000 points of sale with over 20
well-known retail partners including REWE, Rossmann, dm, PENNY,
BILLA, SBB, Carrefour Italy and Bonpreu. It also has deep
relationships in the banking, bill payments and eCommerce
industries.
Forward-looking Statements
This press release includes “forward-looking statements” within
the meaning of the “safe harbor” provisions of the United States
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are provided for illustrative purposes
only and are not intended to serve as, and must not be relied on by
any investor as, a guarantee, an assurance, or a definitive
statement of fact or probability. Paysafe Limited’s (“Paysafe,”
“PSFE” or the “Company”) actual results may differ from their
expectations and estimates and, consequently, you should not rely
on these forward-looking statements as predictions of future
events. Words such as “anticipate,” “appear,” “approximate,”
“believe,” “continue,” “could,” “estimate,” “expect,” “foresee,”
“guidance,” “intends,” “may,” “might,” “plan,” “possible,”
“potential,” “seek,” “should,” “would” and variations of such words
and similar expressions may identify forward-looking statements,
but the absence of these words does not mean that a statement is
not forward-looking.
These forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially, and potentially adversely, from those expressed or
implied in the forward-looking statements. While the Company
believes its assumptions concerning future events are reasonable, a
number of factors could cause actual results to differ materially
from those projected, including, the integration and outcome of the
viafintech transaction; and other factors included in the “Risk
Factors” in our Form 20-F and in other filings we make with the
SEC, which are available at https://www.sec.gov. Readers are
cautioned not to place undue reliance upon any forward-looking
statements, which speak only as of the date made. The Company
expressly disclaims any obligations or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in their expectations with
respect thereto or any change in events, conditions, or
circumstances on which any statement is based, except as required
by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20211101005536/en/
Media enquiries - Paysafe Kate Aldridge,
Kate.aldridge@paysafe.com +44 (0) 750 0797547
Media enquiries - viafintech (German press only) Ulrike
Czekay, Ulrike.czekay@viafintech.com +49 163 741 3434
Investor enquiries - Paysafe Kirsten Nielsen,
kirsten.nielsen@paysafe.com +1 (646) 901-3140
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