The financial technology firm linked to Fidelity National Financial Chairman Bill Foley plans to move to Jacksonville.
When JAX Chamber announced in November it brokered a deal with global mobile and online payment provider Paysafe Ltd. to open its North American headquarters in Jacksonville, chamber CEO Daniel Davis said it would “bridge the London/Jacksonville divide.”
Less than a month later, City Council approved a $10.1 million cash incentives package to finalize the company’s North American headquarters consolidation in Jacksonville.
Paysafe says it is bringing 600 jobs to Northeast Florida.
Founded in 1996, Paysafe offers payment processing, digital wallet and online cash solutions. The company is linked to Fidelity National Financial Chairman Bill Foley and leadership of other affiliated companies like Black Knight, Jacksonville-based Fidelity National Information Services and Dun & Bradstreet.
Paysafe says it has annualized transactional volume of $120 billion as of 2021 and about 3,500 employees in more than 10 countries.
The city incentives were in addition to a $3 million from the state’s High Impact Performance Incentive program.
Despite an initial negative return on investment, where the city expects to receive 60 cents for every $1 of public investment, city and chamber leaders said London-based Paysafe’s decision is an economic win for Jacksonville.