Paysafe to Purchase Openbucks as Part of Its Strategy to Further Expand in The US Market added to tin tuc on Trello
thanhtu09071999 added the card Paysafe to Purchase Openbucks as Part of Its Strategy to Further Expand in The US Market to the Paysafe to Purchase Openbucks as Part of Its Strategy to Further Expand in The US Market list in the tin tuc board at July 30, 2020 at 12:53AM
Paysafe to Purchase Openbucks as Part of Its Strategy to Further Expand in The US Market https://www.realmoneyaction.com/paysafe-to-purchase-openbucks-as-part-of-its-strategy-to-further-expand-in-the-us-market/ Paysafe, a well-known payment platform, has announced their acquisition of Openbucks, a US-based company, for an undisclosed sum. This purchase is seen as a key part of their strategy to further expand their presence and influence across this North American country. Lauded as one of the world’s largest e-commerce markets with revenue projected to grow from $374bn in 2020 to $476bn by 2024, the US represents an attractive investment destination for companies offering this sort of financial services. Philip McHugh, CEO of Paysafe Group, commented: “This tuck-in acquisition reinforces our strategy of investing in and growing our core, specialized payments offering in payment processing, digital wallets, prepaid, and eCash solutions. We’re seeing a lot of expansion opportunities in the US marketplace and I am confident that the integration of Openbucks into our group will become a key part of our US growth story.” The Passion for Payment Technology and Service Openbucks was funded back in 2011 and it provides millions of US customers, who don’t have access to credit cards or who prefer not to share their sensitive financial information on the web, with the opportunity to conduct an online purchase using a gift card. The company has partnership agreements with major nationwide retailers, including CVS and Dollar General, and many of its current merchant customers operate in the US gaming and eSports space, which continues to grow rapidly. Marc Rochman, the founder of Openbucks, explained: “I’m very excited to have signed this deal with Paysafe and look forward to integrating Openbucks into a much larger group that shares common values, a passion for payment technology and service, and a dedication to providing access to online commerce to everyone, especially the underbanked and unbanked.” “Now, with the full backing of a global payments provider who is heavily committed to expanding in the US marketplace, the Openbucks vision and strategy will be certain to accelerate, and we will be able to provide a world-class alternative payment solution to thousands of additional online merchants.” As part of the deal, that’s expected to be completed by the end of the month, the Openbucks team will move across to Paysafe and become part of the company’s global eCash division, which is headed up by Udo Mueller. Openbucks founder, Mark Rochman, will also continue as a strategic adviser to Mueller and the team. “Openbucks is a highly innovative alternative payment solution provider which has built deep distributor partnerships across the US,” added Mueller. “The cash alternative payment market is a thriving one and we are seeing increased demand from online merchants, who want to enable gift cards as a payments solution in order to reach new consumers, particularly in sectors such as gaming, esports, and entertainment which are very much on the rise.” Source: “Paysafe to Acquire Openbucks”, paysafe.com, July 27th, 2020. via RealMoneyAction.com https://www.realmoneyaction.com July 30, 2020 at 12:24AM https://gametoping.com
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Paysafe to Purchase Openbucks as Part of Its Strategy to Further Expand in The US Market https://www.realmoneyaction.com/paysafe-to-purchase-openbucks-as-part-of-its-strategy-to-further-expand-in-the-us-market/ Paysafe, a well-known payment platform, has announced their acquisition of Openbucks, a US-based company, for an undisclosed sum. This purchase is seen as a key part of their strategy to further expand their presence and influence across this North American country. Lauded as one of the world’s largest e-commerce markets with revenue projected to grow from $374bn in 2020 to $476bn by 2024, the US represents an attractive investment destination for companies offering this sort of financial services. Philip McHugh, CEO of Paysafe Group, commented: “This tuck-in acquisition reinforces our strategy of investing in and growing our core, specialized payments offering in payment processing, digital wallets, prepaid, and eCash solutions. We’re seeing a lot of expansion opportunities in the US marketplace and I am confident that the integration of Openbucks into our group will become a key part of our US growth story.” The Passion for Payment Technology and Service Openbucks was funded back in 2011 and it provides millions of US customers, who don’t have access to credit cards or who prefer not to share their sensitive financial information on the web, with the opportunity to conduct an online purchase using a gift card. The company has partnership agreements with major nationwide retailers, including CVS and Dollar General, and many of its current merchant customers operate in the US gaming and eSports space, which continues to grow rapidly. Marc Rochman, the founder of Openbucks, explained: “I’m very excited to have signed this deal with Paysafe and look forward to integrating Openbucks into a much larger group that shares common values, a passion for payment technology and service, and a dedication to providing access to online commerce to everyone, especially the underbanked and unbanked.” “Now, with the full backing of a global payments provider who is heavily committed to expanding in the US marketplace, the Openbucks vision and strategy will be certain to accelerate, and we will be able to provide a world-class alternative payment solution to thousands of additional online merchants.” As part of the deal, that’s expected to be completed by the end of the month, the Openbucks team will move across to Paysafe and become part of the company’s global eCash division, which is headed up by Udo Mueller. Openbucks founder, Mark Rochman, will also continue as a strategic adviser to Mueller and the team. “Openbucks is a highly innovative alternative payment solution provider which has built deep distributor partnerships across the US,” added Mueller. “The cash alternative payment market is a thriving one and we are seeing increased demand from online merchants, who want to enable gift cards as a payments solution in order to reach new consumers, particularly in sectors such as gaming, esports, and entertainment which are very much on the rise.” Source: “Paysafe to Acquire Openbucks”, paysafe.com, July 27th, 2020. via RealMoneyAction.com https://www.realmoneyaction.com July 30, 2020 at 12:24AM https://gametoping.com
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