August 24, 2016
Optimal Payments Rebrands as Paysafe
Nov. 12, 2015
Optimal Payments, an online payment processing provider based in the U.K., on Tuesday announced it has rebranded as Paysafe. When the company acquired digital-wallet provider Skrill in March for $1.2 billion, it inherited a company that provides virtual vouchers enabling consumers to pay online without a bank account or credit card called Paysafecard. While the parent company did not explicitly acknowledge if Paysafecard’s name inspired the rebrand, clearly it resonated with Optimal’s leadership as they were looking to establish a refreshed identity.
“At the heart of today’s online business requirements is the need for a robust payment strategy that is both seamless and secure for merchants and customers alike,” said Joel Leonoff, president and CEO of Paysafe. “Merchants face a variety of challenges including the constant evolution of technologies, changing consumer behaviors and a wide variety of currencies.”
In addition to Skrill and Paysafecard, the company had earlier added Irvine, Calif.-based ISO Meritus Payment Solutions to bolster its presence in the U.S. This is not the first time the company has made an acquisition and rebranded in the name of the acquired entity. In 2011, the company was known as Neovia Financial when it bought Montreal-based Optimal Payments.