Digital payments giant Paysafe has once again found itself under fire from an enigmatic short-seller which has published contested claims relating to the payment provider’s activity in the Turkish online gambling market.
The research from hedge fund Spotlight Research and published on the Seeking Alpha website suggests that Paysafe’s services and brands, including Skrill, Neteller and Paysafecard, are advertised on at least 38 Turkish-facing operations.
However, a note from analysts at Barclays this week argues that Paysafe has been “clear in its prospectus and prior earnings calls that Turkey is a prohibited market for its brands”.
Paysafe does admit to some small element of Turkish revenues that it says come from the video games sector.
A previous note from Spotlight Research on Paysafe’s activities in China resulted in 37 percent being wiped off its share price in the hours following its publication.
This new Spotlight note also makes accusations regarding the discontinued Paysafe payment card brand Ukash and suggests, but provides no proof, that Paysafe owns and operates three other prominent pre-paid card providers — Paykasa, AstroPay and Paykwik.
These claims have been