Paysafe reports Q1 revenue increase but losses also grow

| By Marese O'Hagan
Payments platform Paysafe saw a $17.7m rise in revenue in Q1 year on year to $377.4m, but also saw $2.0m net loss increase because of administrative costs, in its first results since going public in a merger with Foley Trasimene Acquisition Corporation.

Total revenue came to $377.4m, an increase of 4.9% compared to the first quarter of 2020. Paysafe credited this to growth across its eCash platform, which grew 63.3% in revenue year on year.

Paysafe’s Integrated Processing and Digital Wallet software revenue dropped by 4.9% and 12.5% respectively, while $7.3m of revenue was canceled out through intersegment eliminations.

Read the full story on iGB North America.

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