Paysafe signs multi-year deal with Microsoft on its cloud strategy

By Pavithra R

Paysafe, a leading integrated payments platform, has announced a new multi-year, global deal with Microsoft to support it’s strategic move to cloud-based transaction services.

Under the deal, Paysafe will leverage Microsoft Azure’s open and flexible cloud computing platform and tools for its U.S. payment processing and merchant services. The collaboration is expected to enable more agile delivery methods and establish a scalable global cloud footprint for Paysafe’s Card Present transaction systems.

Paysafe’s transition of its services to Azure will enhance its ability to deliver solutions to merchants in a highly flexible way. This will enable the firm to focus on new innovations that meet the needs of the rapidly evolving payments landscape with supporting infrastructure from Microsoft, ensuring the scalability and resilience of the solutions.

“Our collaboration with Microsoft has many layers, and we are delighted to announce the latest extension of this to support the transition of our payment processing services to Microsoft Azure. Our cloud strategy is designed to enable us to innovate at pace and scale with confidence, ensuring a world-class service for our merchants and an enhanced experience for our consumers,” said Roy Aston, Chief Information Officer at Paysafe.

The partnership between the companies is the latest development in an ongoing and multi-faceted collaboration between the two which most recently saw Microsoft’s integration of Paysafecard, Paysafe’s online cash solution, as a payment option for Microsoft Store and Xbox.com customers across 22 countries. The companies are planning to extend the availability to more countries and the Microsoft Store on Xbox consoles during the first half of 2021.

“We are pleased to collaborate with Paysafe and support the company in delivering on its cloud strategy and vision. Microsoft Azure products and services have a proven track record in enabling organisations to turn ideas into real-world, scalable and secure solutions. It is very exciting to see this play out in the way people pay and make purchases around the world,” said Trevor Nies, Sr. Director of Global Payments at Microsoft.

Paysafe is a leading global provider of end-to-end payment solutions. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through capabilities in payment processing, digital wallet, card issuing and online cash solutions. Recently, the FinTech expanded partnership with RentMoola to offer eCash payment for U.S. tenants.