Paysafe uses JPMorgan to provide basic banking services (NYSE: PSFE); the stock goes up

0

ipopba/iStock via Getty Images

JPMorgan Chase (NYSE: JPM) will provide core banking services, including cash management, payment solutions and merchant services, for payment technology company Paysafe (NYSE:PSFE).

Through its Payments business, JP Morgan (JPM) will provide payment gateway and acquiring services for businesses in several industries where Paysafe (PSFE) offers specialist services and expertise.

Paysafe action (PSFE) increases by 4.3% in pre-market commerce; JPMorgan (JPM) gain 3.2%.

Among the solutions that JP Morgan (JPM) will provide include payment settlement systems, merchant payment flow management, cross-currency and cross-currency settlements, and enhanced data insights and analytics. The services are designed to be scalable to support continued growth and expansion, the companies said.

“Appointing a core provider of core banking services creates many synergies and efficiencies for the business, and JP Morgan is supporting us with a robust and flexible banking infrastructure to strengthen our businesses in our verticals and territories. keys,” said Paulette Rowe, CEO of Integrated and E-Commerce Solutions at Paysafe (PSFE).

JP Morgan’s (JPM) Payments business combines corporate treasury services, trade finance, card services and merchant services.

Last week, Paysafe (PSFE) stock soared after the appointment of a new chairman and the release of strong guidelines for 22

Share.

About Author

Comments are closed.