PXP Financial is a high-risk payment processor regulated by the UK Financial Conduct Authority (FCA) with reference number 504318. It is focused on the gambling and betting industry. It was established as an internal department of Austrian sports betting company Bwin later incorporated as Kalixa. In 2015, Bwin was acquired by Entain (formerly GVC), a British sports betting and gambling company listed on the London Stock Exchange and a constituent of the FTSE 100 Index.
Senjō Group, a global payments operator and FinTech investment firm, acquired Kalixa Group for a total consideration of €29.0 million from Entain in 2016/17 and consequently rebranded it PXP Financial.
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.
In December 2020, the company announced a partnership with MoneyNetint Group. In January 2021, PXP Financial announced a partnership with U.S. gaming operator BetMGM, a joint venture between MGM Resorts and Entain (formerly GVC).
PXP Financial is involved in a money laundering scandal surrounding the infamous “Porn Baron” Hamid “Ray” Akhavann.
They are accused of having laundered 150 million euros together with the former Wirecard.