- Paysafe (NYSE:PSFE) +1.30% premarket, has expanded its partnership with FOX Bet, a U.S. online and mobile sports-betting platform operated by Flutter Entertainment (OTCPK:PDYPF) to provide eCash solution for players whose payment preference is cash.
- FOX Bet has strengthened its Michigan sportsbook’s payments offering with the Skrill digital wallet and paysafecard eCash solution.
- After credit and debit cards, digital wallets are Americans’ preferred online payment method, with 40% of consumers using a wallet like Skrill at least monthly, according to Paysafe’s 2021 consumer survey and 12% of Americans are using eCash products like paysafecard once a month or more.
- Philip McHugh, CEO of Paysafe, said: “We’re delighted to strengthen our partnership with FOX Bet. Americans are keenly embracing alternative payment methods, so integrating our best-in-class Skrill and paysafecard solutions, both specifically tailored to sports betting, will ensure that FOX Bet offers all the different ways that players want to pay when they play.”
- Paysafe shares have surged ~10% over the period of one week.
- Last week, the company shares rallied on inclusion in the Russell 3000 index and Reddit mentions.