Paysafe Appoints Chirag Patel To Lead Its Digital Wallets Division
August 10 2021 - 4:00AM
Business Wire
Former Santander and Amazon executive brings
additional digital payments experience to the Paysafe leadership
team
Paysafe (NYSE: PSFE), a leading specialized payments platform,
today announced it has appointed international payments executive,
Chirag Patel, as CEO of its global Digital Wallets business. Patel
will report directly into Group CEO, Philip McHugh, when he joins
the company in early September.
Paysafe’s digital wallet solutions, which include Skrill and
NETELLER, enable consumers to store, withdraw and make purchases in
over 40 currencies from a virtual account as well as buy and sell
interests in cryptocurrency and make international money transfers.
They are used by 3.5 million consumers around the world and
generated $20.4 billion total payment volume in 2020.
Patel brings over 20 years’ experience of working in payments
for high profile, global organisations. He joins Paysafe from
Santander Group where he was Global Head of Payments. While there,
he launched a global payments platform and significantly increased
usage of the bank’s payments products and services. Before
Santander, Patel was Amazon’s Head of Payments, Europe and
International Expansion, where he was responsible for the company’s
product roadmap for emerging payments technologies and
international payment expansion. Before Amazon, he held senior
executive roles in payments and financial services for other
well-known financial institutions including Softcard (acquired by
Google), American Express Services Europe Limited and Merchant
Services Group Int.
Philip McHugh, Paysafe’s CEO, commented: “Chirag has an awesome
track record as a high-performing payments’ executive and has
successfully launched and grown multiple consumer-facing and B2B
payments products and services around the world. I’m thrilled to
have someone of his caliber and energy-level to take our Digital
Wallets business to the next level of growth.”
Chirag Patel commented: “I am really looking forward to joining
the Paysafe team next month and to be given the opportunity to lead
its exciting Digital Wallets business. I believe there is enormous
potential to extend the offering to more and more customers given
Skrill and NETELLER’s worldwide presence, combined with Paysafe’s
great technology and talented team.”
Patel replaces former Digital Wallets CEO, Lorenzo Pellegrino,
who is stepping into a strategic advisory role for Skrill
Limited.
McHugh added: “I’d like to add my sincere thanks to Lorenzo for
the immense passion and drive he has shown over the past 15 years
as he launched our digital wallet solutions around the world. We
now offer two of the most popular and sophisticated digital wallet
brands on the planet and have strong foundations to continue
building on as we grow the business.”
###
About Paysafe Limited Paysafe Limited (“Paysafe”) (NYSE:
PSFE) (PSFE.WS) is a leading specialized payments platform. Its
core purpose is to enable businesses and consumers to connect and
transact seamlessly through industry-leading capabilities in
payment processing, digital wallet, and online cash solutions. With
over 20 years of online payment experience, an annualized
transactional volume of US $92 billion in 2020, and approximately
3,400 employees located in 12+ global locations, Paysafe connects
businesses and consumers across 70 payment types in over 40
currencies around the world. Delivered through an integrated
platform, Paysafe solutions are geared toward mobile-initiated
transactions, real-time analytics and the convergence between
brick-and-mortar and online payments. Further information is
available at www.paysafe.com.
About Paysafe’s Digital Wallets First launched in 1999,
Paysafe’s proprietary digital wallet solutions including Skrill and
NETELLER provide digital commerce services for businesses and
consumers globally. For consumers they provide the ability to
upload, store, withdraw and pay people or make purchases from a
virtual account, buy and sell interests in cryptocurrency or make
international money transfers.
Today they are used in over 120 markets by 3.5 million active
consumer users, and approximately 70 alternative payment methods
can be used to make deposits. Consumers generate over 90 million
transactions annually, driving $20.4 billion total payment volume
in 2020. For businesses, the digital wallets help them to build a
global customer base and drive growth by connecting them to
millions of consumers. Businesses can start accepting payments in
over 40 currencies via credit cards, debit cards, and multiple
local and alternative payment methods, including Paysafe’s own
Rapid Transfer, paysafecard and Paysafecash, within a matter of
hours. In 2020 Paysafe’s digital wallets division reported $395
million revenue.
In the US, Skrill operates as Skrill USA, Inc. The assets,
liabilities, and results of operations of Skrill USA are
consolidated in Paysafe Limited’s consolidated financial
statements; however, Paysafe Limited has no direct equity ownership
in Skrill USA.
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Media enquiries: Kate Aldridge kate.aldridge@paysafe.com
+44 750 079 7547
Investor enquiries: Kirsten Nielsen
kirsten.nielsen@paysafe.com +1 (646) 901-3140
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