- Paysafe Ltd (NYSE:PSFE) globally launched its safeguarding solution for the travel industry.
- The new solution eliminated the need for travel operators that accept payments from consumers to offer cash collateral to their acquirer to offset the risk of non-delivery of services.
- Instead, consumer payments are held by a third party and released immediately and in full to the travel business upon accomplishment of the terms agreed by the company and Paysafe.
- Price action: PSFE shares traded lower by 2.69% at $1.85 in the premarket session on the last check Thursday.
Volatility In Markets Increases After Fed Raises Interest Rates
U.S. stocks ended lower on Wednesday, after the Federal Reserve announced its recent policy decision.
At the end of its two-day policy meeting, the US Fed raised its policy rate by 75 basis points for the third time. However, Fed policymakers also signalled more rate hikes in the coming period, with new projections showing rate increasing to 4.40% by the year end.
