Sphonic to partner with Paysafe on digital wallet services
DATA and risk management specialist Sphonic has been chosen to provide digital wallet services to global payments provider Paysafe Group.
Sphonic, which works with peer-to-peer lenders including Funding Circle and Zopa, supplies data networking services.
These include customer on-boarding, anti-money laundering, know your customer, fraud detection and monitoring as well as authentication.
“We are very excited to discuss the Paysafe partnership at [conference] Money2020 this year and our selection as a trusted partner for their regulatory and digital risk management requirements for the group’s digital wallets,” said Andy Lee, founder of Sphonic.
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“Our ability to support an international business challenge in a real-time digital environment makes Sphonic and Workflow Manager an ideal solution for Paysafe along with many other leading brands in the banking, gaming, fintech and payments space.
“We see great opportunities for the Paysafe partnership over the coming years and look forward to continued innovation in this critical area for the business.”
Paysafe’s brands include digital wallets Skrill and NETELLER, and pre-paid services provider paysafecard.
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“Sphonic has proved to be a strong business partner and one that is always willing to go above and beyond,” said Giacomo Austin, head of compliance strategy and advisory at Paysafe Group.
“In particular, their excellent subject matter expertise and strategic guidance ensures Paysafe is always able to find innovative solutions and adjust our implementation as and when needed in order to achieve the best possible outcomes.”
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