Paysafe Forges Multi-Year Agreement With AWS To Become A Cloud-Based Provider

  • Paysafe Ltd PSFE inked a global multi-year agreement with Amazon.Com Inc AMZN Amazon Web Services (AWS) to become a fully cloud-based payments provider.
  • Paysafe is migrating its workload portfolio, including eCash solutions, Paysafecard and Paysafecash, and its digital wallets, Skrill and NETELLER, to AWS to develop new cloud-native merchant payment and consumer wallet products.
  • The first milestone of the collaboration has been accomplished by shifting Paysafe's eCash solutions to the cloud.
  • The arrangement supports Paysafe to leverage data to drive customer acquisition and engagement and reliably run, scale products and applications for its North American and European operations.
  • Paysafe's partners will also gain from its cloud-first approach.
  • Paysafe is creating a centralized, curated, and secured repository using Amazon Simple Storage Service (Amazon S3), AWS analytics, and AWS security to build a data lake to store, protect, and organize consumer merchant data.
  • Price action: PSFE shares traded higher by 0.8% at $13.9, and AMZN shares traded higher by 1.29% at $3,503.03 in the premarket session on the last check Thursday.
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