Paysafe sees full year ahead of market expectations

Online payment solutions provider Paysafe said on Friday that it expects 2015 revenue and adjusted earnings before interest, taxes, depreciation and amortisation to be ahead of market expectations.

The group expects revenue of around $600m (£410m), with around $380m in the second half, driven by strong growth across product lines particularly in the processing division’s North American business.

As far as adjusted EBITDA is concerned, Paysafe anticipates around $150m, with approximately $100m generated in the second half.

Paysafe said the integration of digital payments business Skrill Group, the acquisition of which was completed in August, is progressing well, with anticipated synergy savings for the second half of 2015 likely to be towards the top of the $5-10m range.

Chief executive officer Joel Leonoff said: “This has been a transformational year for our business. Revenue and underlying earnings have grown strongly and the Skrill acquisition significantly enhances our global scale.

“The group is now operating in more markets and geographies than ever before.”