Payments platform Paysafe (NYSE:PSFE) has signed a global multi-year agreement with Amazon Web Services (AWS) as part of its strategy to become a fully cloud-based payments provider. Through this collaboration, Paysafe is migrating its broad portfolio of mission critical workloads, including eCash solutions, paysafecard and Paysafecash, and its digital wallets, Skrill and NETELLER, to AWS to develop new cloud-native merchant payment and consumer wallet products for its business and consumer customers.
The first milestone of the collaboration has already been completed with the transition of Paysafe’s eCash solutions to the cloud.
The move to AWS supports Paysafe to leverage data to drive customer acquisition and engagement, as well as to run and scale products and applications for its North American and European operations in a highly reliable manner.
Paysafe’s partners will also benefit from its cloud-first approach, making it easier for merchants and other third parties to connect to the Paysafe Network using an API-based integration. The real-time transactional processing powered by AWS will allow merchants to offer a frictionless customer experience at the point of sale.
As part of the agreement with AWS, Paysafe is creating a centralized, curated, and secured repository for all of its consumer and merchant data using Amazon Simple Storage Service (Amazon S3), AWS analytics, and AWS security to build a data lake to store, protect and organize their data. This scalable data lake will use AWS’s analytics services to further enhance the consumer experience, as well as to help Paysafe quickly and cost-effectively identify, prioritize, and evaluate risks in near real-time.