Paysafe Strengthens Canadian iGaming Presence With Ontario Market Launch
April 04 2022 - 4:00AM
Business Wire
New Ontarian market for private online gambling brands sees
Paysafe support multiple operators with traditional and alternative
payment solutions
Paysafe (NYSE: PSFE), a leading specialized payments platform,
has announced that it is live and supporting private iGaming
operators with payments in the Canadian province of Ontario’s
expanded market, which launched today. Building on longstanding
payments partnerships with the Canadian provincial
government-operated lotteries, Paysafe is now powering payments for
leading operators in Ontario’s new private market.
With roots in the city of Montreal and 20+ years’ experience in
iGaming payments, Paysafe has processed online payments for the
Ontario Lottery and Gaming Corporation (OLG)’s online gaming brand
OLG.ca since its launch in 2015.
Today, Paysafe has strengthened its presence in Canada’s most
populous province of 14.6m by extending its multi-state U.S.
payment partnerships with a range of operators into the Ontarian
market, which is expected to generate gross revenues of C$1.86bn by
2026, according to Vixio. Among others, these partners include
PointsBet (ASX: PBH) and theScore Bet, a wholly-owned subsidiary of
Penn National Gaming (NASDAQ: PENN).
Through a single, streamlined integration with Paysafe, these
online sports-betting and casino brands enable Ontarian players to
make deposits by credit and debit card, with all transactions
processed seamlessly by Paysafe’s best-in-breed payment gateway.
The gaming brands’ connectivity to Paysafe will also allow them to
offer players the full suite of the company’s alternative payment
methods, including its eCash solutions.
Paysafe is scheduled to unveil new iGaming payments products and
operator partnerships for the Ontarian market in the coming
weeks.
Zak Cutler, CEO of North America iGaming at Paysafe, said:
“Today’s launch of the new, expanded Ontarian iGaming market marks
a milestone for the North American industry and our global company,
which has its origins in Canada. Ontario will likely rival the
largest U.S. state iGaming jurisdictions when it reaches maturity,
and we look forward to facilitating payments for operators and
their Ontarian customers to help the market grow to its full
potential.”
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 over U.S.
$120 billion in 2021, and approximately 3,500 employees located in
10+ countries, Paysafe connects businesses and consumers across 100
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 iGaming
Paysafe brings over two decades of specialized payments
experience supporting the global iGaming and sports-betting sectors
and provides operators with a comprehensive suite of traditional
and alternative payment methods through a single, streamlined API
integration. Paysafe is also a leader in digital and affiliate
marketing technology and services for iGaming operators through its
Income Access business unit.
Since the opening-up of the U.S. iGaming market in May 2018,
Paysafe has consistently stated its ambitions to be the payments
leader in the fast-growing sector, building on its leadership in
Canada and Europe. As of April 4th, 2022, the company supports 75%
of operators in the country with payments or marketing solutions
across 21 jurisdictions. In Canada, Paysafe also has a leading
position and partners with the majority of regulated iLottery and
gaming brands.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of the “safe harbor” provisions of the United States
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are provided for illustrative purposes
only and are not intended to serve as, and must not be relied on by
any investor as, a guarantee, an assurance, a prediction or a
definitive statement of fact or probability. Paysafe Limited’s
(“Paysafe”, “PSFE” or the “Company”) actual results may differ from
their expectations, estimates, and projections and, consequently,
you should not rely on these forward-looking statements as
predictions of future events. These forward-looking statements
involve significant risks and uncertainties that could cause the
actual results to differ materially, and potentially adversely,
from those expressed or implied in the forward-looking statements.
While the Company believes its assumptions concerning future events
are reasonable, a number of factors could cause actual results to
differ materially from those projected, including, but not limited
to factors included in the “Risk Factors” in our Form 20-F and in
other filings we make with the SEC, which are available at
https://www.sec.gov. Readers are cautioned not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made. The Company expressly disclaims any obligations
or undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in their expectations with respect thereto or any change in events,
conditions, or circumstances on which any statement is based,
except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220404005315/en/
For further information: Nick Say, Senior Manager,
Corporate Communications, North America, Paysafe T:
+1-514-452-8747; E: Nick.Say@Paysafe.com
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