Paysafe edges towards cloud capabilities with Amazon Web Services deal

Paysafe has inked a multi-year agreement with Amazon Web Services (AWS) as it looks to become a fully cloud-based payments provider.

The New York-listed firm will migrate large swathes of its workloads and digital wallets to AWS to develop new cloud-native products.

Paysafecard, Paysafecash, Skrill and Neteller will all make the switch to the cloud, with the group’s eCash solution having already transitioned.

Paysafe said its cloud-first approach would benefit its partners by making it easier to connect to its network via an API-based integration.

Real-time transactions powered by AWS will also offer a frictionless experience at the point of sale.

Additionally, Paysafe will create a centralised repository of consumer and merchant data using Amazon Simple Storage Service and AWS security capabilities to build a data lake.

This data lake will use AWS analytics to enhance the customer experience, as well as allowing Paysafe to identify and evaluate risks close to real-time.

Roy Aston, Paysafe chief information officer, said: “Deploying AWS as one of our major cloud providers will bring wide-ranging benefits to our business, both in terms of scale and innovation.

“We’re excited by the year ahead as we leverage the power of technology across the business, through a combination of our own in-house product development as well as our work with strategic organisations, such as AWS,” he added.