Paysafe Group

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Paysafe Group PLC
Public company
Traded as LSE: PAYS
Industry Online payments
Founded 1996[1]
Headquarters Douglas, Isle of Man
Key people
 Chairman
Joel Leonoff, CEO & president
Products Electronic money
Digital wallet
Revenue $613.4 million (2015)[2]
$26.2 million (2015)[2]
$7.4 million (2015)[2]
Subsidiaries Skrill, Neteller
Website Paysafe Group

Paysafe Group PLC, formerly known as Optimal Payments PLC and Neovia Financial PLC, is an online payments company[3] based in the Isle of Man and regulated in the United Kingdom. It is the provider of the NETBANX gateway, NETELLER e-money payments and free person-to-person money transfer service, and the Net+ prepaid card products used by merchants and consumers in over 200 countries.[4] The company is listed on the London Stock Exchange and it is a constituent of the FTSE 250 Index.

History

The company was formed from the combination of Neteller PLC, Netbanx Ltd and Optimal Payments Limited. Netbanx was founded in 1996,[1] Optimal Payments in 1997,[5] and Neteller in 1999.[6]

In April 2004, Neteller PLC raised about $70 million in its initial public offering (IPO) on the London Stock Exchange.[7]

In November 2005, Neteller PLC acquired Netbanx Ltd.[8]

In November 2008, Neteller PLC renamed itself to Neovia Financial PLC.[9]

In February 2011, Neovia Financial PLC acquired Optimal Payments of Montreal, Canada.[10] Next month, Neovia Financial PLC changes its name to Optimal Payments PLC.[11] In early 2012, the acquisition was revealed to be a reverse takeover with the purging of a number of the senior management along with the chairman of the board.[12]

In July 2014, Optimal Payment PLC expanded its United States interests by purchasing Meritus Payment Solutions, a California based payment processing company, and Global Merchant Advisors, Inc. based in the U.S. in a deal worth over $235 Million.[13]

In March 2015, Optimal Payments PLC revealed that it would acquire the maker of the Skrill e-wallet for a fee of around €1.1 billion.[14]

The company moved to the main market of the London Stock Exchange in December 2015.[15]

Products and services

The NETBANX service processes credit and debit card-not-present and non-card payments for North American, European and Asia global retailers through their online stores, mail-order/telephone order and automated (IVR) phone channels. The service offers both direct processing and acquiring merchant services/merchant accounts. It is provided via the software as a service (SaaS) model.[1][16][17]

NETELLER is an electronic money/digital wallet service that allows consumers to add, withdraw and transfer funds to and from merchants and other people.[18]

Net+ prepaid payment card available in eight currencies is mainly intended to be used with Neteller and is accepted as normal MasterCard payment card.[19]

Sponsorship

In July 2014, Optimal Payments became the sponsor of Crystal Palace Football Club for the 2014/15 and 2015/16 seasons of the English Premier League. The front of the team's shirts will be displaying NETELLER's logo according to the deal.[20]

References

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External links

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