Paysafe (NYSE: PSFE), a specialized payments platform, has announced a new global partnership with Playtech (LSE: PTEC), a gambling technology company. The new agreement represents the extension of an existing partnership between the two companies into the UK and Europe from the US, where Playtech offers Paysafe’s payment solutions to iGaming operator customers through its technology platform.
Through a single, global streamlined integration with Paysafe’s API, operators in the UK and Europe will now also be able to leverage Playtech’s iGaming PAM, Information Management Solution (IMS) platform to access a range of Paysafe’s payment solutions, starting with payment acquiring and card processing, with Paysafe’s digital wallet services set to follow. The integration helps to maximise consumer choice by providing players with all the ways they want to pay when betting online.
The partnership extension follows Paysafe and Playtech’s successful US integration with betPARX. Paysafe has powered the gaming operator’s traditional and alternative payment solutions for its iGaming brand Play Gun Lake in Michigan since Q2 2021 and, from Q1 2022, for its betPARX iGaming and sportsbook app for both Pennsylvania and New Jersey.
Both founded in the late 1990s, Paysafe and Playtech bring together a combined 40+ years of industry experience and a deep understanding of iGaming regulation across audiences and markets. With a technology-focused heritage, the two companies are focused on driving new innovations which offer the ultimate player experience and are designed to support the growth of partner businesses.
Paulette Rowe, CEO of integrated and eCommerce solutions at Paysafe, said: “Playtech is an exciting global gaming brand committed to offering its operators a frictionless payments experience. 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. Bringing together our respective capabilities and deep expertise and understanding of the international iGaming, technology and payments industries represents an incredibly powerful combination, and I am looking forward to helping the Playtech team grow their business further in new European markets.”
Shimon Akad, chief operating officer at Playtech, added: “Offering our iGaming partners market-leading technologies that deliver the most seamless and engaging experience to their customers is absolutely central to our strategy at Playtech. Payments plays an important role in delivering the ultimate player journey and requires an experienced team with expert knowledge, which is where Paysafe comes in as the ideal partner for us. We are extremely happy with the progress of our relationship in the US and are truly excited about what we can achieve together in the UK and Europe.”