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15
NOVEMBER 2016
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The Canadian Business Journal
as an individual, including his habits. Paysafe’s
tool is one that provides visibility, data and
analysis for merchants. Analytics can then accu-
rately categorize each customer, which in turn
allows the merchant to provide personalized
preferences to those customers in an effort to
encourage them to return to purchase addi-
tional products and/or services.
By virtue of the many Paysafe acquisitions
the company is consolidating its platform to one
common cashier that encompasses all the differ-
ent payment types. Users don’t necessarily have
to pay with a credit card. There are wallets that
enable storage value much like a PayPal type of
approach. There is the ability to have straight-
through processing where a single transaction
can be executed without storing value in a wallet
and there are also cash vouchers.
“We sold in the vicinity of $3 billion cash
vouchers at retail locations that are ultimately
turned into digital currency. We also offer
merchants the ability to extend credit to their
customers so that they can buy merchandise
online and pay for it in installments that Paysafe
coordinates and takes the financial risk on,”
Leonoff says.
As further proof that the company is con-
tinuing a commitment to excellence, Paysafe
was recently named Best Merchant Acquirer/
Processor at the 2016 Payments Awards in
London, England.
“We understand the need to keep innovating
to remain relevant in this rapidly-evolving
industry. I am delighted that the hard work and
contributions of the team have been recognized
among our peers,” says Leonoff.
Leonoff, Chazonoff and the entire Paysafe
team are forecasting continued growth at
accelerated rates while adding to the core tech-
nologies and thus becoming an even better
known and highly-regarded payment processor.
Ultimately, success is measured in the value cre-
ated for shareholders.
Leonoff believes Paysafe will be able to reach
out to merchants and process ecommerce trans-
actions on their websites. Pickup and delivery
services are also available through GOLO, and for
the bricks and mortar terminal business it is antici-
pated that Paysafe will soon be in a position to
offer a smart point-of-sale device on an iPad and
ultimately be capable of processing all three, while
offering a consolidated analytics dashboard.
“I don’t think there is anything like our consol-
idated payment platform,” says Leonoff. “On the
worldwide stage, I don’t believe anyone will pos-
sess the level of comprehensive tools and value
that we’re going to bring to the table.”
CBJ
“We understand the need to
keep innovating to remain
relevant in this rapidly-evolving
industry.”
– Joel Leonoff
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