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Paysafe Looks to Digital Wallets to Fuel Growth in 2025
PYMNTS.comยท 2025-03-04 16:58
Company Overview - Paysafe is focusing on its digital wallet business as a key growth driver for the upcoming year, with quarterly revenue growth of 1% and full-year growth of 6% [1] - The total payment volume for the quarter reached $40 billion, marking a 12% increase, while the annual total was $151.7 billion, up 8% [1] Future Strategy - The CEO highlighted the company's strategy to leverage its white label wallet platform, particularly in markets like Peru where it has a strong eCommerce presence [2] - Paysafe aims to differentiate itself in the white label wallet space through its regulatory strength and robust anti-money laundering (AML) practices [3] Market Trends - Research indicates a global shift towards digital wallets as the preferred method for cross-border transactions, driven by consumer demand for convenience and simplicity compared to traditional payment methods [4][5] Corporate Developments - The company has received unsolicited takeover interest but remains confident in its business outlook [5] - In February, Paysafe announced the sale of its direct marketing payment processing unit to Kort Payments, which is expected to help the company focus on its ideal customers and verticals in the experience economy [6][7]