Global-e Expands Partnership, Tapping Paysafe as a Merchant Acquirer

Global-e, a cross-border eCommerce specialist in Europe, has expanded a new partnership with Paysafe (PAYS.L), a provider of digital Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term and transaction-related solutions to businesses and consumers around the world, as its merchant acquirer, per a company statement.

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Global-e has existing ties to Paysafe, having already utilized its processing gateway to deliver a number of payments solutions to clients. However, the new collaboration will see the extension of a full suite of processing and Settlement Settlement Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Read this Term currencies via a single global operator.

Expanded Scope

The newly expanded partnership also looks to help enable a new range of capabilities for retailers that transact locally. Presently, the solution is supported across a basket of 60 currencies with upwards of forty-five different payment methods. Helping fuel this advance was an earlier seeded investment of $20 million earlier this year, which has since gone into expanding its operations across the UK and Europe.

According to Andrea Dunlop, Chief Executive Officer (CEO) of Card Solutions and Acquiring at Paysafe, in a recent statement on the partnership: “We are delighted to add our merchant acquiring capabilities to the payment services we provide for Global-e – the company’s rapidly-expanding client list includes some of Europe’s best-loved retail brands. Paysafe places tremendous value on building long-term collaborations with partners such as Global-e, to offer enhanced solutions and client support to meet their evolving payment needs.”

“Our clients are established brands and therefore their customers have exceptionally high expectations of any interaction, particularly when it comes to the payment process. The customer’s journey needs to be consistent regardless of device, location, currency or payment method,” explained Nir Debbi, co-founder and CMO, at Global-e, in an accompanying statement.

“Having already benefited from Paysafe’s frictionless payment processing solution, we are now able to add its acquiring services, which provide us with a single point of contact to settle and process payments internationally. This allows us to streamline our operations and concentrate on maximising the customer experience on our platform,” Debbi added.