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Paysafe trading update

Progress being made after buyout of Skrill

Manx-based online payment processor the Paysafe Group says it’s hoping to save up to £6.5 million after buying digital payments business Skrill. 

In a trading update, Paysafe, registered in Finch Road in Douglas, says after the purchase in August, integrating the new company is going more quickly than it first hoped – creating synergy savings. 

The company is hoping to join London’s FTSE 250 index and says the earliest date it could be considered for inclusion is March next year. 

Paysafe’s president and chief executive Joel Leonoff says the group is trading well thanks to strong cost control and the Skrill acquisition.

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