Integrated payments platform Paysafe announced on Monday it has formed a new multi-year, global deal with Microsoft to support its strategic move to cloud-based transaction services. Paysafe reported that as part of the collaboration, it is using Microsoft Azure’s open and flexible cloud computing platform and tools for its U.S. payment processing and merchant services.
“Paysafe’s transition of its services to Azure is set to enhance its ability to deliver solutions to merchants in a way that is highly flexible. This will enable the company to focus on new innovations to meet the needs of the rapidly evolving payments landscape with supporting infrastructure from Microsoft to help ensure the scalability and resilience of the solutions.”
Paysafe further revealed that the agreement between it and Microsoft is the latest development in an ongoing and multi-faceted collaboration between the two companies which most recently saw Microsoft’s integration of Paysafe’s online cash solution, paysafecard, as a payment option for millions of Microsoft Store and Xbox.com customers across 22 countries. Speaking about the partnership, Roy Aston, Chief Information Officer at Paysafe, stated:
“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.”
Trevor Nies, Senior Director of Global Payments at Microsoft, added:
“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.”
Founded in 1996, Paysafe claims to be 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 industry-leading capabilities in payment processing, digital wallet, and online cash solutions.