Paysafe Experiences Slow but Sustainable Growth

Paysafe Experiences Slow but Sustainable Growth

Paysafe Group, the online payments company that owns Neteller, Skrill and Paysafecard, has reported year-on-year (YOY) growth across various key financials from the beginning of the year through to the end of June. The UK regulated company achieved $538.7 million in the first half of 2017, more than the $486.7 million in the first six months of 2016. Compared to last year's revenue, this is an 11% increase.

According to Paysafe, this year's revenue number represents a more "sustainable" growth for the firm. Still, while it might be more sustainable, the growth is also far slower than what was achieved in 2016, which saw revenue accelerate by 118% YOY.

That being said, the report revealed a 31.4% adjusted earnings before interest, tax, depreciation and amortization (EBITDA), which is more than last year's 30%. This year's better results is credited to "improved gross margins in the payment processing and digital wallets division."

Dennis Jones, Paysafe's Chairman, said that after exceptional trading last year, the company has returned to a more sustainable level of low-double-digit revenue growth in the first half of 2017."

Jones added that this reflects the firm's "increasingly diversified set of businesses as the management team continues to build a stable and robust global payments platform."

Jones also stated that Paysafe Group is pleased to announce the recent (July) acquisition of MCPS, a US-based payment processing company that will strengthen Paysafe's process business, increase the company's scale in North American acquiring and help the firm to continue its efforts in re-balancing its portfolio away from online gambling.

About The Author

As both a player and a fan of strategy analysis in the area of online gambling, my goal is to share the latest information and news about online casinos and the games that they offer. My background was originally in writing guidebooks for the individual games, as well as for tournaments, but after a decade of that, I chose to expand my experience to writing honest, objective, and helpful articles.

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