Financial tech company Paysafe plans to establish its North American headquarters in Jacksonville, Fla. The London-based company is a 25-year-old specialized payments platform. The new location has not yet been disclosed, but it's expected to bring about 600 jobs to the area over the next three years, reports Jacksonville.com/Florida Times-Union.
Paysafe employs approximately 3,300 people, according to CEO Bruce Lowthers, and is located in more than 12 spots globally across 100 payment types in over 40 currencies across the world. Some employees are already operating from Jacksonville.
“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 initial move is expected to start with about 200 employees by the end of next year through a combination of relocating employees and new hires, Jacksonville.com reports. The company will be hiring in a range of roles, including skilled technology jobs with a focus on online digital payment processing.
Jacksonville business leaders — including the JAXUSA Partnership, a division of JAX Chamber for the city’s regional economic development — agreed on a deal while in London on their annual economic development mission last month, says the website. Anthony Jabbour, CEO of Dun & Bradstreet, and board member at Paysafe, supported the project.
Laura DiBella, deputy secretary of commerce at Enterprise Florida, said partnerships like this make it so Jacksonville is “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 is an amazing opportunity that puts a stronger emphasis on Jacksonville as an international brand.”
Lowthers described the company as “one of the world’s largest e-cash platforms” and the “fourth largest non-bank acquirer in the U.S.” Paysafe has an annualized transactional volume of over $120 billion in 2021.
The state approved incentives and an economic development package in October that are 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.