Payments

Paysafe to sell payment processing business

Photo: Adobe Stock

February 17, 2025

Paysafe, a payments platform, announced it will see its marketing payment processing business line to Kort Payments, an omnichannel payments solutions provider. This purchase will include reseller and merchant contracts, along with technology, according to a press release.

This is part of an effort for Paysafe to reduce its involvement in direct marketing. The transaction is expected to close in 30 days.

"The divestiture of our direct marketing payment processing business reflects our commitment to portfolio and resource optimization to focus on our largest growth opportunities as a company. This accelerates our transformation by exiting a non-strategic business line, bringing a close to the repositioning of our Merchant Solutions segment. This represents a significant milestone that enhances long-term shareholder value by positioning Paysafe to deliver resilient growth and sharpen our focus on Paysafe's ideal customers and verticals in the experience economy," Bruce Lowthers, CEO of Paysafe, said in the release.