Paysafe opens North American headquarters in Jacksonville
London-based fintech company Paysafe plans to establish its North American headquarters in Jacksonville.
Paysafe, a 25-year-old specialist payments platform, is eyeing vacant office space for a move that will be announced in more detail in the coming weeks. The new site, which is still being completed, will have to offer “quite a lot of space” for Paysafe and is expected to bring around 600 jobs to the area over the next three years.
Some employees are already in Jacksonville, Paysafe CEO Bruce Lowthers said.
Paysafe employs approximately 3,300 people, according to Lowthers, and is located in more than 12 locations globally across 100 payment types in over 40 currencies worldwide.
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“It’s an exciting time for the city and it’s an exciting time for us to come here and join the new roster of fintech companies in the city of Jacksonville,” Lowthers said.
The first move is expected to start with around 200 employees by the end of next year through a combination of employee relocations and new hires. The company will be hiring in a variety of roles, including skilled technology jobs with a focus on online digital payment processing.
Jacksonville business leaders — including the JAXUSA Partnership, a division of the city’s regional economic development JAX Chamber — agreed to a deal while in London on their annual economic development mission last month. Anthony Jabbour, managing director of Dun & Bradstreet, and board member of Paysafe, personally supported the project.
Enterprise Florida Deputy Commerce Secretary Laura DiBella said partnerships like this put Jacksonville “officially on the world stage.”
“Today is a great day for the city of Jacksonville and the Northeast Florida region as a whole,” DiBella said. “It’s a fantastic opportunity that further emphasizes Jacksonville as an international brand.”
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What is Paysafe?
Lowthers described the company as “one of the world’s largest e-cash platforms” and the “fourth largest non-bank acquirer in the US”
Paysafe has an annual transaction volume of over $120 billion in 2021.
The state approved incentives and an economic development package in October that is expected to be introduced to the Jacksonville City Council next week. Paysafe will qualify for $10 million in city incentives and $3 million from the state’s High-Impact Performance Incentive program.
City Council President Terrance Freeman spoke at the press conference for Paysafe’s announcement, noting that 11 council members were in attendance.
“We are fortunate to have a strong partnership between our economic development team at JAXUSA, the city of Jacksonville and the state of Florida,” said Freeman. “The focus on fintech is exciting and an area that is becoming an incredible strength for our cities.”
