A Rapidly Growing Payment Processor
Also known as Paysafe Group, Paysafe is a UK-based merchant account provider that has acquired multiple large payment processing subsidiaries during the past five years. The company was formed in 2015 as a rebranding of Optimal Payments, and it was subsequently acquired in August 2017 by 2 private equity firms called The Blackstone Group and CVC Capital Partners. Its major acquisitions under both the Optimal Payments and Paysafe brands include Skrill, Meritus Payment Solutions, MeritCard Solutions, Merchants’ Choice Payment Solutions, and, most recently, iPayment. In 2020, Paysafe announced a partnership with US-based sports-betting platform FOX Bet as well as one with the Microsoft Store.
Paysafe Headquarters and Ownership
Paysafe is a registered ISO/MSP of Deutsche Bank AG, New York, NY; BBVA Compass Bank, Decatur, AL; Wells Fargo, N.A., Concord, CA; Woodforest National Bank, Houston, TX; BMO Harris Bank, N.A, Chicago, IL; and Merrick Bank, South Jordan, UT. The company is headquartered at 41 Victoria St, Douglas, Isle of Man IM1 2LH. Philip McHugh is the CEO of Paysafe. Joel Leonoff, who has also served as the CEO of Skrill, founded the company in 1997.
Paysafe Review Table of Contents
- Costs & Contract: Paysafe offers variable pricing terms among its many products and services.
- Complaints & Service: Paysafe has received more than 100 public complaints.
- BBB Rating: As Paysafe:Group, the US branch of Paysafe has a rating of “A+” with the BBB and has had 224 complaints and 43 reviews in the last 3 years. The company has been accredited since 2011.
- Sales & Marketing: Paysafe maintains different sales practices at each of its subsidiary organizations.
- Rates & Fees: How Merchants Got The Best Rates With Paysafe