Paysafe Introduces Safeguarding Solution For Travel Industry

Paysafe Ltd (NYSE:PSFE) globally launched its safeguarding solution for the travel industry.
The new solution eliminated the need for travel operators that accept payments from consumers to offer cash collateral to their acquirer to offset the risk of non-delivery of services.
Instead, consumer payments are held by a third party and released immediately and in full to the travel business upon accomplishment of the terms agreed by the company and Paysafe.
Price action: PSFE shares traded lower by 3.32% at $10.78 in the premarket session on the last check Thursday.