Paysafe Share Discussion Threads

[lomax99] 13/9/2017 13:00

Well the court meeting & AGM is on 26th September, so if they get at least 75% of the vote at the EGM then it will be accepted then.

Most posters on this board however are hoping the No vote is significantly higher than 25%, in which case the offer is rejected. CVC/Budco can then increase their offer and go for another vote, or withdraw, there is no certainty over timing in this scenario.

[saj3] 13/9/2017 12:35

Does anyone know when this offer will be accepted, if there is no counter bid

[lomax99] 13/9/2017 12:19

Yes, can't imagine management are too happy with the timing of this particular PR release.



More Than Half of American Consumers to Abandon Cash by 2020, According to Global Research Report

13/09/2017 12:00pm

Business Wire



Paysafe (LSE:PAYS)
Intraday Stock Chart

Today : Wednesday 13 September 2017
Click Here for more Paysafe Charts.
- Global research from Paysafe reveals that 54 percent of American consumers don’t expect to carry cash by 2020

- Americans are leading the trend toward digital payments technologies, ahead of the UK and Canada.

More than half (54 percent) of US consumers expect to abandon using cash for shopping by 2020, according to Lost in Transaction, a new research report conducted by Paysafe, a leading global payments provider. The report uncovered the rapid move towards a cash-free economy with half (54 percent) of American consumers only visiting an ATM once a month and one in seven saying they rarely carry cash at all. With the research showing two thirds (63 percent) of people rely less on cash than a year ago, the move away from physical currency looks set to continue.

The comprehensive study, undertaken in the US, UK and Canada, looks at attitudes to money and consumer buying behavior, and examines how cash is merging with digital formats. It reveals increased consumer confidence in mobile shopping, the start of a shift to new payment methods such as cryptocurrencies and the potential for retailers to lose relevance without the right payment mix for customers.

According to the research, Americans are leading the way in the adoption of new payment methods with 14 percent already using cryptocurrencies and 31 percent using mobile wallets such as Android Pay and Apple Pay. This high adoption rate is linked to the increased confidence (72 percent) US consumers have in using their mobile phones for shopping. Despite leading the way in alternative payment technologies, Americans are still hanging onto some old-fashioned methods with 50 percent having written a check in the last month (compared to 30 percent of Britons, 40 percent of Canadians).

The wider adoption of mobile wallets is likewise affected by concerns regarding people’s handsets. Nearly a third (30 percent) of American consumers said they worried about their phone being stolen, while a quarter did not even want to take their cell phone out to pay. This is despite nearly three fourths (72 percent) saying they are increasingly confident about using their phone for shopping.

“One in seven US consumers have already started to use cryptocurrencies and one in six have used biometric identification. This core of early technology adopters will create the momentum for our next leap forward in payments, just as they did with mobile wallet use which has become mainstream in America. As consumer acceptance of a cash-free society grows, businesses are challenged to reimagine the shopping experience to allow for behaviors and payment models unthinkable a decade ago,” said Joseph Daly, Chief Operating Officer, Paysafe Payments Processing, North America.

“Today, the American consumer experience is defined by a huge diversification of choice – in retail options, services delivery and payment methods. In a rapidly transforming landscape, the merchants who survive will have invested early in emerging technologies that enable them to meet a range of customer payments preferences and quell security concerns – from cash and debit cards to mobile payments and eventually biometrics and cryptocurrencies.221;


Cross-market comparisons:

US UK Canada
Average amount of cash people carry in their wallet $50
£20 or
under

$50 or
under

Percentage of people using mobile wallets 31% 24% 16%
Percentage of people using cryptocurrencies 14% 12% 9%
Percentage of people who dual browse (use a mobile to browse & buy online while in a shop) 55% 41% 41%
Percentage of people who have written a cheque in the last month 50% 30% 40%



Those using mobile wallets provided the following information:

US UK Canada
Percentage of people who would pay for higher priced items using a mobile wallet if limits were raised 77% 82% 81%
Percentage of people stating paying by mobile is more convenient than using cash 81% 84% 87%
Percentage of people stating paying by mobile is more convenient than using contactless 80% 77% 83%


The research demonstrates that it’s essential that businesses accommodate both traditional and emerging payments technologies when accepting and processing payments. That journey starts with merchants understanding how consumers use money, where they use it and which formats they prefer, as consumers expect to be catered for when parting with their money.

To read the full report, which includes comparisons between consumer attitudes to cash and alternative payment methods in the US, UK and Canada, click here.

About Lost in Transaction
Lost in Transaction is an independent research project supported by the London-based agency Loudhouse. The research report was completed by surveying 3038 general consumers in the UK, Canada and the US about their online shopping behaviors and payment habits. Respondents came from six different age groups and a variety of different professions.

[wolfhound1] 13/9/2017 11:20

Here is why 590p is just tooo cheap

Paysafe: 54% of consumers to abandon cash within 2 years

hxxps://www.leaprate.com/payments/paysafe-54-consumers-expect-abandon-cash-within-2-years/

[ralphmalph] 12/9/2017 21:23

that is the salary of the non execs on the board. Obs Joel and his Oppo are paid a lot more. But it is the Chairman who is recommending the deal to the shareholders.

[nurdin] 12/9/2017 18:50

Blimey Ralph...is their salary that low? Not talking about NEDs are you?If that is the salary of Executives then little surprise they have voted in favour .....

[f1araway] 12/9/2017 18:15

And it's a NO from me.

[ralphmalph] 12/9/2017 17:06

@nurdin - they have been offered an in to the world of private equity. Lots and lots of money sloshed around in that game. At PAYS chairman is on 60K USD a year other directors are on 30K a year plus no share options or very small ones.

Not hard to hold a fistfull of dollars with those meagre salaries.

[nurdin] 12/9/2017 16:59

I still cant over the fact that the Board has backed the 590p offer.Will the CEO still have his heart in the business if either BIDCO walk away for whatever reason, or they get a higher offer? Think some Institutional holders will be baying for their blood if latter was to happen !

[wolfhound1] 12/9/2017 16:48

I don't think they are handing over customer info - just passing on an anonymous basis the sum of the voting direction - big difference !!

They have a responsibility as Trustee not to disclose beneficial ownership or client details except where doing so is in compliance with regulation and law of the land on foot of court request.

If you have a broker account and shares are held in Trust ( i.e. no paper certificates issued as held on CREST ) and you received a call - I would make three calls :

1. Regulator ( PRA/FCA ) - and report that you believe your information has been been disclosed by your broker without your consent.

2. Broker - Chief Compliance Officer - who have a duty of care to investigate and have access to a plethora of logs and communication devices and can escalate it to Chief Exec and must also inform the regulator

I would also set them a deadline of 3 business days to investigate and report back their findings

3. Subject to 1 & 2 above - the third call would be to my Solicitor to seek compensation for damages and breach of contract.

[largeronald] 12/9/2017 16:24

If brokers are keen enough to curry favour by handing over customer details, might not they be tempted to earn a few more brownie points by "losing" a few NO votes?

Nothing would surprise me in this market.

[wolfhound1] 12/9/2017 16:03

If a broker thinks there might be the slughtest chance of possible future business from bidco and its entities - you can bet your bottom dollar - on a no names basis - they will roll over gladly.

Not saying I agree but being realistic where money is involved I have generally observed honour, valour and integrity are generally lacking

[slogsweep] 12/9/2017 16:02

I've had the call - Bidco rep asking if I knew about offer
etc. Should have asked how they got my details but settled for
telling the bemused rep what i thought of the Co. and the offer!

[largeronald] 12/9/2017 15:25

Wolfhound - nothing to stop them asking a broker, but should a broker be revealing either their customers' details or their voting intentions?

[slaccs] 12/9/2017 15:09

largeronald - completely agree about data protection but as, a few years ago, the electoral registers were sold off without any consultation, nothing surprises me anymore!

[wolfhound1] 12/9/2017 15:07

The shareholders name , address , number of shares owned etc... are freely available 9-5 upon inspection of share register at companies offices - once they have that it is not difficult to look up your phone number.

Of course if you buy and hold ( electronically) through a broker then shares are usually held in a central "trust" account ( via crest) - they can ring the broker and ask what way they as proxy are likely to be voting.

If these are genuine queries ( and I have no reason to doubt that they aren't) then I am guessing that they are struggling to get to the magic 75% - suspect we will see either a rival bid or a revised offer soon.

[brad44] 12/9/2017 14:36

got all my no votes in for what its worth!!

[mmc71] 12/9/2017 13:47

If your shares are with Charles Stanley then you'll have to contact them via secure messaging to register your vote, as they don't inform/get in touch with investors with regards to AGM votes.

[1rsd] 12/9/2017 11:27

Voted against through AJ Bell (who I've always found to be a very easy to use site and their service is much better than Selftrade). I really hope the takeover doesn't go through, at least not at such a low price. These shares have done so well over the last few years and it seems a shame for the next stage of growth to go on the cheap to PE. Best case scenario for me is the bid gets rejected, sale of Asian Gateway goes ahead and we get a proper rerating in line with industry peers. Fingers crossed and GLA

[stuart37] 12/9/2017 10:12

I also hold my Paysafe in both a Sipp and a normal trading account with The Share Centre and was called up by a gentleman acting on behalf of Bidco. I made it quite clear that my combined 39,000 shares would not be voting yes and that this was just the beginning of the game. I also added that most other blogs i had viewed were of the same opinion. We did not have a long conversation!!

[wolfhound1] 12/9/2017 09:58

I haven't conducted an actual count but it looks to me like alot of ii's have been adding to their position in Pays since deal was announced. They are not buying to pick up a few pennies, they will force budco to go much higher 15-20% IMHO - if they want PAYS. Otherwise Pays stays independent and onwards and upwards. Of course the pace may be set by a new entrant - who most likely will have keep powder dry til just before court meeting !!

Very strange that they would canvass opinion unless it is a sample "poll" - in which case they sould just read this board !!

GlA

[vetpeter2] 12/9/2017 09:26

I have just managed to cast my no vote with Barclays. I had to send them a "secure message" which involves proving your identity with a pinsentry. Several days later they responded saying that they would give my proxy vote but did not send out voting forms. They require your instructions 10 days before the Court Meeting & EGM. Hope this helps!

[ralphmalph] 12/9/2017 09:15

Well Bibco's Investment Bankers should be advising them on what price will get the II's to accept. In theory this is as simple as asking them what they will accept.
The top ten ii's hold 34% of the shares and I would hazard a guess that if fidelity and Aegon vote against it is dead in the water.