Paysafe Using AWS to Deliver Fast and Innovative Services for Digital Wallet Customers
November 03 2021 - 5:00AM
Business Wire
Leading specialized payments platform
announces migration of its Digital Wallet services to the
AWS Cloud
Paysafe (NYSE: PSFE), a leading specialized payments platform,
today announces the latest milestone in its strategy to become a
fully cloud-based payments provider with the migration of its
digital wallets, Skrill and NETELLER, and all associated business
services to Amazon Web Services (AWS). The completion of the
Digital Wallets cloud migration is part of a global multi-year
agreement with AWS that supports Paysafe’s cloud strategy.
The move to AWS has enabled Paysafe to scale its Digital Wallet
operations to drive increased efficiency and innovation behind its
consumer solutions and reduce the deployment time of its merchant
integrations by approximately 80%, accelerating time to market for
its business customers.
The migration of Paysafe’s Digital Wallets services represents
the completion of the transition of the company’s broad portfolio
of mission critical workloads to the cloud with AWS. It follows the
transition of Paysafe’s eCash solutions earlier this year.
By moving its mission critical workloads to the cloud, Paysafe
now has the ability to open up new revenue streams by combining
numerous business lines to create innovative and frictionless
services based on real-time insights. At the same time, the company
is poised to make considerable savings in hardware investment costs
by operating in the cloud.
Paysafe’s Digital Wallets portfolio offers a popular alternative
payment method for consumers, with the ability to send and spend
money online from a Skrill or NETELLER account. It allows customers
to upload funds from credit and debit cards, bank accounts and a
variety of alternative payment methods and use those funds to send
money to friends and family or spend online. Customers can also use
a prepaid card. For merchants, it provides a platform that supports
multiple payment methods including credit cards, prepaid cards and
real-time banking solutions. Merchants using Skrill and NETELLER
are able to promote their services to millions of users around the
world.
Paysafe believes it will increase efficiencies and reduce its
liabilities in merchant underwriting by using AWS’s global
infrastructure and data modelling solutions, including its risk
analytics services. Paysafe has also transitioned its disaster
recovery completely to AWS as part of its move to develop and
deploy next-generation capabilities using AWS’s comprehensive
portfolio of cloud services.
Paysafe’s cloud platform now positions the company to power its
growth strategy in 2022 by offering additional products and bolt-on
services with its partner ecosystem.
Roy Aston, Chief Information Officer at Paysafe, said: “We began
our relationship with AWS at the onset of the pandemic, and we have
developed a deep collaboration between our two companies over the
last 18 months. By moving the majority of our critical workloads to
the cloud, we have been able to rapidly respond to new market
conditions and changing consumer needs. We are excited to continue
our strategic collaboration with AWS and further solidify our
commitment to developing new cloud-native consumer wallet products
for our business and consumer customers.”
“Paysafe’s dedication to modernizing its infrastructure using
AWS is a testimony to the company’s commitment to deliver
innovative payment solutions for its consumer and business
clients,” said Scott Mullins, Managing Director, Worldwide
Financial Services Business Development at Amazon Web Services. “We
look forward to our continued collaboration with Paysafe, and we
are excited to support the company’s mission to become a fully
cloud-based payments provider.”
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 $100 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20211103005332/en/
Anna Howard, Director of Communications, Europe and Asia,
Paysafe Anna.howard@paysafe.com Phone: +442038908975
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