Paysafe teams up with Playtech as payments giant looks to arrest share price slide
Paysafe has unveiled a new partnership with London-listed gaming tech giant Playtech today in a bid to hoover up new customers on both sides of the Atlantic, as bosses at the payments firm grapple with a plummeting share price.
The new agreement, which boosts an existing partnership between the two companies, will extend Paysafe’s technologies to Playtech customers in the UK and Europe as well as the US, where Playtech already offers the firm’s technology to customers.
Paysafe ecommerce boss Paulette Rowe said the two firms were ready to fuel their expansion in UK and Europe with the new technology.
“We’ve seen great success in the roll-out of our collaboration across multiple US state markets and are delighted to be extending this into the UK and Europe via the same, single technology integration,” she said.
The new partnership comes after a turbulent year for the New York-listed Paysafe in which its share price has been in freefall, shedding nearly 80 per cent of its value.
Bosses will be hoping the fresh partnership will deliver a lift after its shares plunged over 40 per cent in November, when bosses delivered sales forecasts below investor expectations.