Paysafe Group Plans Mobile Payments Shift with iPayment
It was just a few months ago that Paysafe Group picked up iPayment, and in the process, picked up a whole new way to access the small and medium-sized business (SMB) market. Now, Paysafe has set up a new plan for iPayment, one that will see iPayment itself fundamentally changed.
The new plan, as detailed by Paysafe and sent our way, features “sunsetting” the iPayment brand and instead giving the iPayment platform the Paysafe brand as well. It will become part of a larger experience known as “Plug into Paysafe,” which will ultimately provide a complete payments platform.
Geared toward not only consumer-level users, but also merchants and developers, Paysafe showed off its plans at its recent Partner Conference, which brought together around 200 of iPayment’s agent partners and similar affiliates.
Todd Linden, Paysafe’s North America CEO of Payment Processing, noted “As a result of the iPayment acquisition, Paysafe is now one of the leading payment processors in the US and it makes sense for us to capitalize on this strengthened position and go to market through one consistent brand strategy and vision. Our new ‘Plug into Paysafe’ brand positioning has resonated really well with our customers and partners and the iPayment team are enthusiastic about taking advantage of it as we merge together to deliver a truly unique payments offering in North America. I’m confident we have the opportunity to do something very bold and special in the payments space – these are exciting times.”
While it’s always something of a blow to see a company lose its identity, this was likely only a matter of time away. Now, Paysafe has the full power of iPayment behind it, and incorporated so well that it’s being released under the Paysafe branding. Given how much competition there is in this market overall, Paysafe will need every advantage it can get. Eliminating market confusion is definitely a good plan here, and should give the company at least a little help in the field.
Whether or not the market will turn to Plug into Paysafe remains to be seen, but with Paysafe owning the brand, its move to decommission the brand will help prevent market confusion and lost potential sales as Plug into Paysafe makes its greatest push of all.