Paysafe inks Azure cloud deal with Microsoft
Paysafe has signed a new multi-year cloud deal with Microsoft to use the latter’s Azure platform.
Paysafe extends a partnership with Microsoft
Paysafe is using Azure’s cloud computing platform and tools for its US payment processing and merchant services.
The firm says this will enable “more agile delivery methods” and establish “a scalable global cloud footprint” for its transaction services.
The UK firm says it needs to meet the needs of “the rapidly evolving payments landscape”.
Microsoft and Paysafe already have a handful of agreements in place, including the integration of the latter’s paysafecard as a Microsoft payment option.
“Our collaboration with Microsoft has many layers,” says Roy Aston, chief information officer at Paysafe.
“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”.
Paysafe says its merchant network processes $100 billion in payments each year. Blackstone bought the firm for £3 billion in 2017.
The firm is expected to headline one of the largest IPOs of the year, having merged with a special-purpose acquisition company (Spac) for a $9 billion floatation.
Track records
“We are pleased to collaborate with Paysafe and support the company in delivering on its cloud strategy and vision,” said Trevor Nies, director of global payments at Microsoft.
“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.”
Microsoft has signed several finance-focused Azure recently. In August 2020 it added technology firm SimCorp and Standard Chartered.
A month before those deals, it announced an extension with banking software provider Finastra, and a deal with National Australia Bank.
Related: Paysafe e-commerce CEO talks about being a woman in fintech
