Paddy Power-Betfair takes Safecharge on board

Playtech‘s biggest shareholder, Teddy Sagi, will be pleased with the latest contract signed by his financial services company SafeCharge – an agreement to provide deposit and withdrawal services to the merged Paddy Power-Betfair online and retail gambling giant.

SafeCharge’s Personalised Cashier product will enhance customer payment and withdrawal services, the company boasts in a presser this week, advising that its services allow simpler and faster transactions for Paddy Power Betfair customers at home or on the move.

Head of payments at the merged gambling group, Stephen Moffatt, said: “We selected SafeCharge due to its proven and extensive experience in the online gaming industry and the superiority of technology. SafeCharge was able to provide us with a simple integration, a superior front-end cashier solution and a quick and easy method to add multiple alternative payment methods.”

SafeCharge shares rose when news of the deal broke Thursday, with the current share price boosting the company’s value to GBP 380 million – a significant premium on its IPO launch valuation two years back of GBP 242 million.

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