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SafeCharge wins contract with Paddy Power Betfair

Customers of the newly merged bookie will now use SafeCharge's Personalised Cashier when making deposits and withdrawals.
SafeCharge wins contract with Paddy Power Betfair
Payments will be ‘simpler and faster’, according to SafeCharge.

Online secure payments group SafeCharge (LON:SCH) has landed a new contract with Paddy Power Betfair.

The newly merged bookie and online gambling firm will now use SafeCharge's Personalised Cashier, a system that allows enhanced customer payment and withdrawal services.

According to SafeCharge, its service will allow ‘simpler and faster’ transactions for Paddy Power Betfair customers at home or ‘on the go’.

It added that for winnings, the service allows ‘fully transparent initiation and management’ of withdrawal requests.

"We selected SafeCharge due to its proven and extensive experience in the online gaming industry and the superiority of technology," said Stephen Moffatt, Paddy Power Betfair head of payments.

"SafeCharge was able to provide us with a simple integration, a superior front-end Cashier solution and a quick and easy method to add multiple alternative payment methods."

On AIM, SafeCharge shares rose 8.5p, 3.5%, to trade at 250.5p each. At the current level, the company is worth about £380mln.

SafeCharge floated on the AIM market with a £75mln IPO, valuing the whole company at £242mln, nearly two years ago.

Since then it has made some bolt-on acquisitions, agreed new partnerships (including arrangements with Mastercard and Visa).

As well as working with online gaming companies, the financial technology group also has other e-commerce ties including currency exchange, airlines and other business areas.

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