Paysafe installs former FIS executive as CEO

Bruce Lowthers, who joins Paysafe after 15 years at FIS, will succeed Philip McHugh on 1 May

UK fintech Paysafe has appointed Bruce Lowthers as its new chief executive officer and executive director.

Lowthers, who joins Paysafe after 15 years at FIS, will succeed Philip McHugh on 1 May.

McHugh is stepping down as chief executive officer and as a member of Paysafe’s board of directors, after taking the fintech public.

Daniel Henson was appointed to the role of non-executive chairman in March and Lowthers’s appointment completes the transition.

Paysafe, a provider of payment processing, digital wallet and online cash solutions, said it has appointed a new chief executive officer with a strong reputation as a results-focused leader who has driven transformation, innovated at speed and enhanced customer experiences for multiple global organisations, including FIS, one of the world’s largest fintechs.

Commenting on the appointment, Henson, chairman of the Paysafe board, said: “Bruce is an exceptional executive whose proven track record of driving sustained results and enterprise value is second to none.”

“In particular, he has successfully scaled and transformed many global organisations. Paysafe is at an exciting inflection point on its journey and we are confident Bruce is the right leader to take it to the next level of growth.” 

Lowthers added: “Paysafe has a highly differentiated and innovative payments offering and is at the forefront of enabling improved payments experiences for both businesses and consumers around the world.”

“I am excited by the significant growth opportunities ahead for Paysafe and by the financial outcomes and value we can achieve for our customers, employees, and shareholders as we scale the global business. I am thrilled to be joining the talented Paysafe team at such a pivotal time!”

Image: Paysafe

Mark Dugdale