Paysafe Ltd, the Bermudian-incorporated specialised payments platform, has reported a net loss of $1.4 million in the second quarter, which compares with a net loss of $1.8 million in the prior year quarter.

Revenue was $439.9 million, an increase of 9 per cent compared with the second quarter of 2023.

Total payment volume of $38.1 billion was an increase of 7 per cent year-on-year.

Bruce Lowthers, chief executive of the company, said: “Paysafe’s momentum continues with higher quality revenue growth accelerating to 9 per cent in the second quarter, driven by strong performance across all major product lines and execution on our 2024 strategic initiatives and investments.

“These efforts continue to strengthen our foundation and position us for sustainable long-term success.

“Given our robust performance in the first half of the year, we are raising our revenue guidance for 2024 to a growth range of 7 per cent to 8 per cent, 125 basis point increase at the mid-point from our original 2024 guidance mid-point.”