Paysafe

What the company does

Paysafe brings together businesses that grew up serving industries the mainstream payments sector treated as high risk, gambling among them. Skrill and Neteller are digital wallets that allow a player to fund an account without exposing card details to the operator, and paysafecard is a prepaid voucher bought in cash at a shop, which serves customers who will not or cannot use a card online.

Gambling is classified as high risk by the card networks, which produces higher fees, more declines and stricter acquiring requirements. That classification is the reason wallets and vouchers have a far larger share of gambling deposits than of general e-commerce.

Prepaid cash products also interact with regulation in two directions: they help customers who want to limit spending to a fixed amount, and they complicate source-of-funds checks, which is why several markets restrict or prohibit them for gambling.

Where this sits in the supply chain

Processors, wallets and account-to-account providers that move deposits in and withdrawals out. Gambling is treated as high risk by the card networks, which is why the sector has its own specialist payment businesses.

All companies filed under payments