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13
NOVEMBER 2016
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The Canadian Business Journal
billion in revenue and close to $300 million of
adjusted EBITDA (earnings before interest, taxes
and amortization) so we’ve come a long way,”
Leonoff proudly states.
The necessity to embrace innovation and
remain ahead of the curve is absolutely critical.
Paysafe’s secure servers are very well distributed
around the world for a variety of reasons, includ-
ing redundancy, security and performance.
“Over the last three to five years the
space has changed quite dramatically,” says
Chazonoff. “People say that more has changed
with payments in the last two years than the
prior 20 years to that.”
The company invests a great amount of
time and money on research and development
with a primary focus on new technologies and
innovations to ensure the user experience is
an appropriate balance between not creating
too much friction to the consumer or the mer-
chant while at the same time providing all of the
necessary safeguards to conduct secure, safe
transactions.
“The name Paysafe really reflects what we
are all about,” says Chazonoff.
The technology world has evolved signifi-
cantly over a relatively short period of time and
the vast majority of merchants and customers are
now quite comfortable with the notion of execut-
ing online transactions. Any misgivings about
using advanced technologies can quickly be
alleviated by educating people about the numer-
ous safeguards that have been put in place. As
such, Paysafe has consistently demonstrated a
willingness to stand behind its claims of safety and
security for everyone using the system.
“We have digital wallets that cater to spe-
cific industries where we actually indemnify the
funds and take on the fraud risks so it’s not even
an issue that merchants have to concern them-
selves with,” reveals Leonoff.
“Technology is a core attribute of our
offering,” says Chazonoff. “There is also risk
management, which involves making our mer-
chants fully understand what the pitfalls are and
how to manage them. Additionally, although
we’ve grown significantly in a relatively short
period of time, we haven’t lost our entrepre-
neurial drive and spirit.”
Corporate
Diversification
The master plan of the executive team at Paysafe
is to build relevance in a variety of industries.
They’ve already accomplished that goal in
online gambling where the company caters to
more than 95% of the entire industry through-
out Europe with its digital wallets. The company
also helps sites with customer protocols and
“People say that more has
changed with payments in the
last two years than the prior 20
years to that.”
– Danny Chazonoff
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