Payment solution provider As part of a plan to expand the capabilities of its products, Paysafe has just completed the acquisition of a related technology business. The firm that operates one of the most reliable payment systems for online casinos in Canada has announced that it has purchased Income Access for a price of $40 million Canadian. After the completion of the transaction, the shareholders of Income Access will be given a total of 28 million Canadian dollars. Over the next two years and eight months, we will pay you in three equal installments of C$4 million each. Joel Leonoff, president and CEO of Paysafe, expressed his satisfaction with the acquisition by stating that it was in keeping with the corporate strategy that tried to address the ever-evolving needs of their customers. Paysafe welcomed the acquisition. Additionally, he mentioned that the acquisition ought to improve the relationship that the company has with its merchants.
In addition, Paysafe Divisional CEO Lorenzo Pellegrino, who is also in charge of the Skrill and Neteller brands that are offered by the provider, mentioned that the new acquisition will assist them in expanding their network of international affiliates. Aside from the well-known prepaid card, Skrill and Neteller are possibly the provider’s most extensively used online payment solutions. These e-wallets are utilized not only for the purpose of making deposits at casinos, but also for the purpose of making payments for retail and service transactions. E-wallets are a common term used to refer to payment mechanisms such as Skrill and Neteller. They perform the functions of a holding account or digital wallet and allow users to link their profiles to their existing online banking accounts. After the connection has been made, funds are able to be moved back and forth between the traditional bank account and the electronic wallet. Users will thereafter be able to make online payments utilizing their electronic wallets rather than providing their credit card or banking information.
A Closer Look at the Availability of Income
Montreal-based Income Access was established in 2002 and has since developed into a market-leading brand that offers companies affiliate technology for the management of marketing programs. More than 250,000 of its affiliates make use of the company’s cross-platform software, and the organization has staff members located not only in Canada but also in Vancouver, Brisbane, and London as well. Nicky Senyard, founder and current CEO of Income Access, has voiced his approval of Paysafe’s proposed takeover of the company. Senyard, who will continue in his role as managing director of the company, stated that the goods offered by the supplier were a perfect fit for the company’s network of affiliates as well as its technology, and that both existing customers and prospective new customers would enjoy a variety of benefits.