Connect with us

Latest News

Paysafe to Acquire SafetyPay

Published

on

 

Paysafe (NYSE:PSFE) (“the company”), a leading specialized payments platform, today announced that it has signed a definitive agreement to acquire SafetyPay for USD 441 million in an all-cash transaction.  SafetyPay is a leading payments platform that enables eCommerce transactions via an unrivalled choice of open banking and eCash solutions, operating primarily in Latin America. For Paysafe, this latest deal strengthens its strategic foothold in Latin America, building on its recently announced acquisition agreement with Peruvian payments platform, PagoEfectivo.  Together the two acquisitions set Paysafe up to be the leading open banking and eCash solutions provider in Latin America, one of the world’s fastest-growing online markets.

Paysafe’s core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallets, eCash and online banking solutions.  It offers over 70 payment types in over 40 currencies around the world.

SafetyPay was founded in 2007 as an eCommerce payments platform with the mission to enable millions of consumers to use alternative payment methods (APMs), most notably bank transfer and eCash solutions, to make online purchases.  It now has a presence in 11 Latin American countries (with additional coverage in Europe, see below*), and operates via an unparalleled network of banks, with over 90 per cent bank coverage, and over 180,000 cash collection points.  It serves nearly 300 merchants primarily in the travel, entertainment, and digital goods industries.

Upon completion of the transaction, Paysafe will have scale and a leading presence in the fast-growing Latin American eCommerce market, where merchants and consumers alike are showing an increasing appetite to use open banking and eCash solutions to transact online. Further, with SafetyPay having established relationships with more banks in Latin America than any other payments provider, Paysafe will be uniquely positioned to capture share of the nascent open banking market by integrating further Paysafe services and solutions into the region’s payments ecosystem including its digital wallet and gateway capabilities.

On completion of the deal, the SafetyPay team will transition into Paysafe’s expanding eCash and online banking solutions’ team which is headed up by Paysafe eCash CEO, Udo Mueller.  At that time, SafetyPay’s CEO, Gustavo Ruiz Moya, will become CEO, eCash for Latin America and Global Head of Open Banking, reporting into Mueller.  The enlarged Paysafe eCash business will be able to offer eCash and open banking solutions in over 60 countries with over one million distribution points.

“We are very excited to welcome SafetyPay into the Paysafe family. The team has successfully built a market-leading payment platform that has become the de facto open banking solution for Latin America.  We look forward to partnering with Gustavo and the team to continue to build eCash and online banking solutions across LATAM and beyond.

Furthermore, by combining the capabilities and open banking network of both SafetyPay and PagoEfectivo with our existing solutions in processing, digital wallets and eCash, along with our deep expertise in specialized verticals such as iGaming, travel and digital goods, we can become the true market leader in the region and provide merchants with unique and powerful combinations to grow their business,” commented Philip McHugh, CEO of Paysafe.

“We are really pleased to see SafetyPay and PagoEfectivo become part of Paysafe and expand our payment solutions across card payment processing, digital wallets, eCash and online banking payments with a strong foothold in high growth Latin American markets. We see exciting synergies in key industry verticals like iGaming where we want to win. From the start, we have had a plan to grow in areas where we can achieve scale through operational efficiency. It is great to see the team execute and create more opportunities for growth,” commented Bill Foley, Chairman of Paysafe’s Board of Directors.

The SafetyPay transaction is expected to close in the fourth quarter, 2021.  Paysafe’s banks have provided financing commitments and Paysafe intends to refinance these bridge facilities with new debt contemporaneously with the completion of the acquisition.

RBC Capital Markets, LLC served as exclusive financial advisor and Greenberg Traurig, LLP served as legal advisor to Paysafe. PJT Partners served as exclusive financial advisor and Quarles & Brady served as legal advisor to SafetyPay.

Latest News

LEON Obtains Sponsorship Agreements with Four MMA Fighters to Enhance Brand Visibility

Published

on

 

LEON, the globally recognized online sports and casino entertainment brand, has partnered to sponsor four promising mixed martial arts (MMA) fighters: Justin Tafa, Junior Tafa, Hakaraia Wilson, and Joshua Culibao.

This partnership marks an exciting expansion of LEON’s sports collaboration portfolio, with the four Australasian athletes set to engage in various promotional activities and fan interactions, all while representing the LEON brand. These efforts aim to bring fans closer to the thrilling world of MMA.

The six-month promotional campaign will culminate in an unforgettable fight night in Australia this August, where the four fighters will demonstrate their prowess in the octagon.

The Tafa brothers and Culibao are well-known figures in the UFC, and Wilson is a rising star in professional MMA. Through LEON’s platform, they will provide regular updates on their training and progress and engage with fans via personal calls and exclusive online events.

LEON is committed to offering a secure, enjoyable, and innovative environment for casino gaming, sports, and esports fans. It prioritizes both entertainment and safety and advocates for responsible gaming practices.

Callen Mowatt, fighters Communications Director: “We are thrilled to join forces with such exceptional brand. Each of these athletes embodies the values of perseverance, determination, and courage, which we believe resonates deeply with with the brand. We look forward to being able to showcase their inspiring journeys as they reach new heights in their careers”

The Brand Communications Director of LEON commented, “Our partnership with the dynamic world of combat sports not only supports the aspirations of these talented athletes but also reinforces our pledge to deliver exhilarating and engaging experiences to our audience.

This collaboration reflects LEON’s commitment to innovation and community involvement, mirroring the triumphant cheers that echo across the sports landscape. 

Our goal is to assist young talent and support emerging athletes. We understand the challenges they face and the dedication required to excel as top fighters.

Through this sponsorship, we aim to motivate our audience to pursue their dreams and strive for success. We extend our best wishes to the four fighters as they train for their upcoming matches over the next six months.”

For more information, please click here.

 

Continue Reading

Latest News

IWG and Atlantic Lottery Replace Subcontract with Direct Supply Agreement

Published

on

IWG and Atlantic Lottery Replace Subcontract with Direct Supply Agreement

 

Offers Atlantic Lottery greater self-sufficiency when collaborating with IWG

Instant Win Gaming (IWG), a leading supplier of eInstant games to NASPL and WLA-member lotteries announced today a new, five-year direct contract to supply its InstantRGS (remote game server) and its InstantGames to Atlantic Lottery.

Since 2017, IWG has supplied eInstants to Atlantic Lottery through a subcontract with their iLottery platform provider. However, following substantial growth of their eInstant category, Atlantic Lottery elected to contract directly with IWG.

With a direct contract in place, Atlantic Lottery is assured greater self-sufficiency when collaborating with IWG on game development and innovation. Further, a direct relationship streamlines roadmap planning and deliveries including day-to-day game operations and support.

A direct contract is the primary way that lotteries source games from IWG.

Rhydian Fisher, IWG CEO, said: “Atlantic Lottery has been a valued partner of IWG for many years, and this new agreement will streamline the way in which we deliver and support our eInstants. AL’s decision to move to a direct contract is consistent with how the vast majority IWG’s lottery partners contract with their critical suppliers such as IWG.”

Robert Lalonde, Director of iGaming Product at Atlantic Lottery, said: “It is imperative to our business planning at Atlantic Lottery that we establish direct contracts with our primary eInstant suppliers. IWG has been a trusted supplier to us since 2017, and we’re excited to be taking our partnership forward with this new agreement.”

Continue Reading

Canada

Soft2Bet strengthens integrity monitoring with IBIA membership in Ontario

Published

on

Soft2Bet will start IBIA membership with Ontario rollout before worldwide implementation

 

Soft2Bet, a leading casino and sportsbook platform provider, has joined the International Betting Integrity Association (IBIA) and activated its membership in Ontario, Canada, following its licensing in the Canadian province.

Soft2bet obtained its Certificate of Registration from the Alcohol and Gaming Commission of Ontario (AGCO) at the end of March, where the company’s Ontario-focused brand Tooniebet.com will now feed into IBIA’s world-leading sports betting integrity monitoring platform before worldwide implementation in the coming months.

IBIA includes over 50 of the world’s leading sports betting and gaming companies, who operate over 125 sports betting brands. Soft2Bet’s decision to join the association further strengthens its own internal betting integrity protocols and IBIA’s position as the world’s leading sports betting integrity monitoring body.

David Yatom Hay, General Counsel at Soft2Bet, commented: “Soft2Bet is delighted to be joining the IBIA as we strengthen our own betting integrity monitoring processes and play our part in furthering the IBIA’s long-standing work on this key issue. Ontario is a world class iGaming jurisdiction; it will be the first market where we will implement our IBIA membership and we look forward to deploying the monitoring infrastructure worldwide in all the other markets in which we operate.

Khalid Ali, CEO of IBIA, said: “Soft2Bet is a very welcome addition to IBIA, further strengthening our position in the Ontario market. The operator’s decision to join IBIA demonstrates its desire to utilise the best integrity protection available for its sportsbook product. The association is delighted to be able to integrate Tooniebet within our integrity monitoring system and looks forward to working closely with Soft2Bet to maintain the high integrity of its sportsbook.”

IBIA is a not-for-profit body that has no competing conflicts with the delivery of commercial services to other sectors and is run by operators and for operators to protect regulated sports betting markets from match-fixing. IBIA’s global monitoring network is a highly effective anti-corruption tool, detecting and reporting suspicious activity in regulated betting markets.

Through the IBIA monitoring network it is possible to track transactional activities linked to individual customer accounts. IBIA members generate more than $300bn in annual betting turnover (handle), accounting for approximately 50% of the global commercial regulated land-based and online sports betting sector, and in excess of 50% for online alone.

IBIA recently released a report on the Availability of Sports Betting Products which highlighted Ontario as a leading regulated gambling jurisdiction, with an expected onshore channelisation for sports betting of 92% in 2024 forecast to rise to 97% in2028. IBIA currently represents over 60% of the private sports betting operators licensed in the province. All online sportsbetting operators licensed in Ontario are required to be part of a betting integrity monitoring body.

IBIA’s Q1 2024 report detailed 56 alerts during the quarter. IBIA alerts contributed to the investigations and subsequent successful sanctioning of 21 clubs, players and officials in 2023, an increase on the 15 sanctioned in 2022.

Continue Reading

Trending

GamingAmericas.com (part of HIPTHER) is your one-stop portal for the latest news, insights, and analyses in the gaming industry across the Americas. From legislative updates and market trends to interviews with industry leaders, we provide a comprehensive look at the dynamic landscape of both online and land-based gaming. Whether you're a stakeholder looking to stay ahead of the curve or a gaming enthusiast eager for reliable updates, GamingAmericas.com has got you covered. Follow us on social media and subscribe to our newsletter for real-time updates and exclusive content. Make informed decisions and stay ahead in the game with GamingAmericas.com.

Disclaimer: All the information provided is for educational and entertainment purposes only. Always check your local laws before participating in any gaming activities.

Copyright © 2018 – 2024, HIPTHER. All Rights Reserved.