Paysafe Group

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

  1. 1 2 3 "NETBANX Limited: Private Company Information". Retrieved 26 March 2015.
  2. 1 2 3 "Audited Results for the year ended 31 December 2015" (PDF). Retrieved 10 April 2016.
  3. ↑ "Optimal Payments PLC (OPAY.L) Company Profile". Reuters. Reuters. Retrieved 26 March 2015.
  4. ↑ "Optimal Payments announces European partnership with Payline". London Stock Exchange. 4 September 2013. Retrieved 26 March 2015.
  5. ↑ "Company Overview of Optimal Payments (Ireland) Limited". Bloomberg. Retrieved 27 March 2015.
  6. ↑ "Neteller Arrests" (PDF). Justice.gov. 16 January 2007. Retrieved 27 March 2015.
  7. ↑ "United States of America vs. Stephen Eric Lawrence" (PDF). Steptoe.com. Steptoe & Johnson LLP. 16 January 2007. Retrieved 27 March 2015.
  8. ↑ "Neteller acquires Netbanx for £12.36 million cash". Finextra. 1 November 2005. Retrieved 27 March 2015.
  9. ↑ "Neteller changes name to Neovia Financial". Finextra. 17 November 2008. Retrieved 27 March 2015.
  10. ↑ "Neovia Financial PLC - NEOVIA completes acquisition of Optimal Payments" (Press release). Reuters. 2 February 2011. Retrieved 27 March 2015.
  11. ↑ "Neovia Financial PLC - Confirmation of name change" (Press release). Reuters. 4 March 2011. Retrieved 27 March 2015.
  12. ↑ Reynolds, Bill (1 October 2014). John Lefebvre, Neteller and the Revolution in Online Gambling. ECW Press. p. 377. ISBN 1770905723.
  13. ↑ "Optimal Payments to acquire California based Meritus Payment Solutions to accelerate expansion in U.S. payments market" (Press release). London, Montreal, New York: Yahoo! Finance. CNW Group. 2 July 2014. Retrieved 27 March 2015.
  14. ↑ "Optimal Payments to buy e-wallet rival for $1.2 billion" (Press release). Reuters. 23 March 2015. Retrieved 27 March 2015.
  15. ↑ "Paysafe moves to London Stock Exchange’s Main Market today". Leap Rate. 23 December 2016. Retrieved 3 March 2016.
  16. ↑ "NetBanx". SQA.org.uk. Retrieved 28 March 2015.
  17. ↑ "NETBANX Payment Gateway & Merchant Account". Retrieved 28 March 2015.
  18. ↑ "Accept NETELLER in your Ecommerce Shop". About Payments. Retrieved 28 March 2015.
  19. ↑ "Net+ Prepaid Card Review". Prepaid365. Retrieved 28 March 2015.
  20. ↑ "Optimal Payments Becomes Official Shirt Sponsor". Crystal Palace F.C. Official Website. 7 July 2014. Retrieved 31 March 2015.

External links

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