Paysafe (PSFE) Stock: Why The Price Increased Today

By Amit Chowdhry ● Apr 7, 2022
  • The stock price of Paysafe (NYSE: PSFE) increased by over 1% pre-market today. This is why.

The stock price of Paysafe (NYSE: PSFE) increased by over 1% pre-market today. Investors are responding positively to Paysafe announcing it has expanded its partnership with betPARX, which is a Pennsylvania-based gaming company owned by Greenwood Gaming and Entertainment, Inc. 

Building on the company’s payments support for the Play Gun Lake brand in Michigan that is powered by betPARX, Paysafe will now also provide payments for the betPARX mobile apps for Pennsylvania and New Jersey.

With Paysafe’s integration with betPARX technology partner Playtech’s iGaming PAM Information Management Solution (IMS) platform, users in both Pennsylvania and New Jersey can make streamlined deposits to fund their betPARX accounts with their credit or debit card. And all transactions will be processed seamlessly through Paysafe’s best-in-breed payment gateway.

betPARX users can also fund their wagers with Paysafe’s alternative payment solutions. And these include the Skrill USA digital wallet, which was upgraded in Q4 with new functionality for instant funding of deposits, plus Paysafe’s Paysafecash and paysafecard eCash solutions.

Paysafe will also enable betPARX users to cash-out winnings. And payouts can be transferred directly into players’ Skrill USA accounts, with funds accessible in real-time or through their bank accounts.

KEY QUOTES:

“We’re delighted to extend our partnership with betPARX into two major states in the U.S. iGaming space – New Jersey, the cornerstone of the whole market since 2013, and Pennsylvania. We look forward to facilitating payments for betPARX and its players in both states to strengthen the two brands’ customer conversions and retention.”

— Zak Cutler, CEO of North America iGaming at Paysafe

“We are proud to extend betPARX’s partnership with an industry-leading payment technology provider. We constantly look for features that will round out our service to users and make betPARX the simplest and fastest app, and Paysafe delivers easy and user-friendly deposit and cash-out options.”

— Matthew Cullen, Senior Vice President of Interactive at betPARX

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.