Disclaimer: the FinTelegram “Headline News” format curates news about financial markets, investors, and investor protection. The “Headline News” articles do not contain extensive research but either provide short updates on relevant subjects, organizations, and individuals or refer to 3rd-party findings and opinions.
FCA-regulated High-risk payment processor PXP Financial Limited is systematically developing its partner network to enter the attractive U.S. market. In December 2020, the company announced a partnership with MoneyNetInt Group, also FCA-regulated, to expand cross-border payments with the U.S. and Europe. Now it has partnered with U.S. gaming operator BetMGM, a joint venture between MGM Resorts and Entain (formerly GVC). PXP Financial used to be part of the British Entain group until December 2016 and is currently a Singapore-based Senjō Group member company.
Senjō Group, a global payments operator and FinTech investment firm, acquired PXP Financial (previously Kalixa) for a total consideration of €29.0 million from Entain in 2016/17. Kalixa was one of the leading high-risk payment processors and processed transactions worth €11 billion annually for more than 800 merchants in 2016. It was rebranded PXP Financial in 2018 and received a new management team in 2019. According to its website, the company processes more than €21.5bn annually for more than 1,000 merchants.
Sources: PXP Financial, The Payers
