e-cash processor on course

In an interim management statement Tuesday covering Q1-2017, the management of e-cash processor Paysafe Group plc reported that the company continues to perform in line with management expectations; reiterates its FY 2017 guidance that revenue growth will be in the low double digit figures; the 30.1 percent adjusted EBITDA margin will be maintained; and adjusted cash conversion remains strong.

President and CEO Joel Leonoff revealed that the group has continued to de-leverage despite returning GBP 22.4 million of capital to shareholders in the form of a share buyback earlier this year.

“Paysafe has had a strong start to 2017 and each of our divisions is performing as expected,” Leonoff reported.

“Our business continues to benefit from the disciplined execution of our strategy. Paysafe is focused on driving sustainable organic growth, providing state-of-the-art technology, delivering relevant niche oriented payment solutions, nourishing an entrepreneurial company culture, and identifying and integrating bold acquisitions.

“We believe Paysafe’s differentiated and relevant products and services position us very well in a rapidly-evolving payments industry.”