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Canada bank transfer
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Nuvei
nuvei.com/solutions/
canada-bank-transfer
Unlock seamless financial transactions with Interac and Instant Bank Transfer. Enjoy rapid, secure payments anytime, anywhere.
Simplify, accelerate, and secure your payments with the power of Canada Bank Transfer
Enjoy effortless and rapid transactions online or via phone, with instant payment options for quick fund movement. With robust security and customizable fraud prevention, our reliable solutions offer comprehensive, transparent reporting for your convenience.
Simple, flexible online bank payments
Supercharge your business by easily integrating Interac into your payment system. Experience lightning-fast payments through direct account-to-account transfers.
Join forces with the robust interbank network of Canadian financial institutions, processing billions of transactions annually.
- A fast and secure way to transfer money between private and business accounts
- Interac solutions seamlessly power transactions across the nation's leading financial institutions and are universally accepted at over half a million locations
- Move funds quickly with faster and instant payment options
- Cost-effective alternative to credit cards
- Unify features through a single integration
Your ultimate instant bank transfer solution
Discover Instant Bank Transfer (IBT), your ultimate solution for secure and seamless payment verification in Canada.
IBT streamlines deposit and withdrawal processes while ensuring top-notch identity verification. Trust in IBT's cutting-edge risk management technology to safeguard your transactions and provide a hassle-free experience.
- Boost conversion with a fast, secure mobile experience
- Seamless user experience with Xpress 1-click payments
- Easy and fast deposits for ultimate convenience
- Enjoy higher transaction limits, up to $100,000
- Cutting-edge risk management for enhanced security
Frictionless flows and instant payments
Customers and businesses can make and receive payments instantly, in a matter of seconds.
Benefit from enhanced conversion rates, an improved user path offering a smooth, and mobile-centric customer journey.
- Instant payments for customers and businesses in seconds
- Enhanced conversion rates with a smooth mobile user journey
- Lower payment processing costs by bypassing card network charges
UK bank transfer
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Nuvei
nuvei.com/solutions/
uk-bank-transfer
Unlock seamless financial transactions with Faster Payments and Pay with Bank Transfer. Enjoy rapid, secure payments anytime, anywhere.
Simplify, accelerate, and secure your payments with the power of UK Bank Transfer
Enjoy effortless and rapid transactions online or via phone, with instant payment options for quick fund movement. With robust security and customizable fraud prevention, our reliable solutions offer comprehensive, transparent reporting for your convenience.
Simple, flexible online bank payments
Experience instant money transfers, bypass card network limitations, and harness the power of trusted banking connections.
Save time and money with processing through the Faster Payments network while offering a reliable and affordable alternative to credit cards.
- Swift and secure transactions between UK bank accounts
- 24/7 accessibility for uninterrupted financial transactions
- Real-time money transfers for a delay-free payment experience
- Enjoy the convenience of a generous £1,000,000 per transaction limit
- Cost-effective alternative to credit cards
- Unify features through a single integration
Secure, direct bank payments for effortless transactions
Enjoy secure, hassle-free payments directly from your bank account with Pay with Bank transfer, powered by American Express but accessible to all.
- Boost conversion with a fast, secure mobile experience
- Enhanced security with bank authentication, no shared payment details
- Broadly accepted, not limited to AMEX, for UK bank users
- Low-cost, simple fee structure with easy reconciliation
Frictionless flows and instant payments
Customers and businesses can make and receive payments instantly, in a matter of seconds.
Benefit from enhanced conversion rates, an improved user path offering a smooth, and mobile-centric customer journey.
- Instant payments for customers and businesses in seconds
- Enhanced conversion rates with a smooth mobile user journey
- Lower payment processing costs by bypassing card network charges
EU bank transfer
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Nuvei
nuvei.com/solutions/
eu-bank-transfer
Unlock seamless financial transactions with SEPA and SEPA Instant Credit Transfer. Enjoy rapid, secure payments anytime, anywhere.
Simplify, accelerate, and secure your payments with EU Bank Transfer
Enjoy effortless and rapid transactions online or via phone, with instant payment options for quick fund movement. With robust security and customizable fraud prevention, our reliable solutions offer comprehensive, transparent reporting for your convenience.
Fast, reliable online bank payments
SEPA (Single Euro Payments Area) transforms E.U. cashless transactions, offering rapid euro transfers, 24/7, and near-instant processing for all participants.
With a single integration, supercharge your operations, fulfill orders faster, and boost cash flow with lightning-fast, real-time payments. Providing customers with unparalleled convenience, no matter where they are.
- Instant payments are the closest substitute to cash: the transfer of money is immediate
- 24/7/365 accessibility for uninterrupted financial transactions
- Real-time money transfers for a delay-free payment experience
- Reduce payment processing costs by cutting out fees from card schemes
- Enjoy higher transaction limits, up to €100,000
Bypass card network limits for maximum payment flexibility
Customers and businesses can make and receive payments in a matter of seconds using their trusted bank relationships.
Enhanced conversion rates, an improved user path offering a smooth, mobile-centric customer journey. Decreased payment processing expenses by eliminating charges associated with card networks.
- Consumers and merchants can pay and get paid instantly, within seconds
- Higher conversion rates, a better user journey providing a seamless, customer experience
- Reduce payment processing costs by cutting out fees from card schemes
- Customer authentication and zero chargeback guarantee
Safeguard your business with highly secure bank transfers
Protect your customers' data and prevent fraud. Say goodbye to chargebacks with our guaranteed solution.
- Consumers and merchants can pay and get paid instantly, within seconds
- Chargeback guarantee solution available
- Conveniently access comprehensive, consolidated reporting
U.S. bank transfer
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Nuvei
nuvei.com/solutions/
us-bank-transfer
Discover Nuvei's U.S. Bank Transfer services for seamless, rapid, and secure payments. Leverage ACH, RTP, and FedNow networks for flexible money transfers.
Simplify, accelerate, and secure your payments with U.S. Bank Transfer
Enjoy effortless transactions, instant payment options, and transparent reporting. Protect your business with our Assured Funds guarantee.
Simple, flexible ACH payments
Empower your customers with a cost-effective, convenient payment solution. Debit funds directly from bank accounts for single or repeat transactions.
Save time and money with processing via Automated Clearing House (ACH), Real-time Payments (RTP®), and FedNow.
- Simplify payments for clients with a seamless checkout
- Streamline banking information entry - no physical card is needed
- Secure digital enrollment for swift, authenticated payments
- Process one-time or recurring transactions effortlessly
- Economical alternative to credit and debit cards
Protection for your business, guaranteed
Mitigate payment risks effectively with Nuvei's Assured Funds, an insurance solution designed to protect businesses from potential losses caused by unauthorized, returned payments.
Assured Essential
Ensures protection against unpaid transactions and fraud. We assume the risk and handle collections, letting you focus on business.
Assured Complete
Guarantees funds on all returns, including unauthorized returns. Rapid merchant funding accelerates settlement and payment.
Instantly validate accounts for secure, timely payments
Prevent fraud and reduce returns with smart approval logic. We offer three validation levels for your unique business needs.
Basic
Enhanced security, real-time validation, and commercially reasonable bank account validation.
Enhanced
Powerful add-on that offers a deeper level of validation and greater fraud prevention.
Premier
Reduces administrative and NSF returns by providing the latest status of customer bank accounts.
Process paper checks electronically
Check 21+ is a cutting-edge payment solution that allows merchants to process paper checks electronically.
With this innovative technology, merchants can say goodbye to time-consuming trips to the bank and hello to faster, safer processing.
- Enjoy higher checks limits and fewer limitations
- Avoid ACH restrictions
- Eliminate risk with guaranteed protection
- Accept checks in person, by mail, or at a drop box location
- Retrieve payments quickly with electronic deposits
Issuing
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Nuvei
nuvei.com/solutions/
issuing
Discover Nuvei's seamless issuing payment solutions, including customizable physical and virtual cards, unified acquiring and issuing, and data-driven insights.
Small changes, significant impact
Just like a finely tuned race car, every marginal improvement in your payment processes can lead to big growth. Maximize your approval rates and revenue with Nuvei's issuing solution.
Turbocharge your brand
Elevate your brand with Nuvei’s customizable physical cards.
Put your brand in your customers’ wallets and give them ability to pay with your card for their day-to-day expenses.
- Tailor cards and wallets to reflect your brand's identity, including logo and colors
- Enable seamless and secure transactions across online, in-store, and in-app purchases
- Create a consistent and convenient customer experience for repeat customers
Accelerate your transactions with virtual cards
Streamline vendor payments swiftly and cost-effectively with Nuvei’s virtual card.
Combine card issuing with acquiring and settlement accounts, all on one platform.
- Easily generate single-use or multi-use virtual cards tailored to your needs, providing flexibility and control
- Effortlessly manage single or batch card formats to scale your operations efficiently
- Utilize our APIs for full automation and seamless integration of your card-issuing processes
- Empower consumer and business payments with our versatile virtual cards
Race ahead of the competition
Optimize your cash flow with the precision of a pit crew, supporting your business to lap the competition.
Unlike other card issuers, Nuvei’s unified payments platform bridges your acquiring and card issuing, ensuring funds flow seamlessly across your business without any delays.
- Experience effortless fund transfers between acquiring and issuing operations
- Optimize your cash flow and reduce operational friction
- Accelerate your payment processes with a streamlined, all-in-one solution
Fuel your growth with precision
Maximize your revenue and make informed business decisions with Nuvei's data-driven insights.
Nuvei’s powerful reporting technology allows you to see holistic payments data and detailed transaction information—all on a single platform.
- Take advantage of shared interchange opportunities to boost your revenue.
- Gain valuable, actionable insights from your issuing and acquiring operations to make informed business decisions
- Navigate complex data to act upon critical business insights
Gain the winning edge with industry-specific payment solutions
Propel your business to the front of the pack with Nuvei's custom tailored payments.
Our issuing solution enables you to benefit from simpler, faster customer payouts, innovative accounts payable features, and streamlined B2B travel.
- Disburse funds, such as winnings, to white-labeled physical or virtual cards, enhancing loyalty and engagement
- Enable online travel agents to generate virtual cards for paying airlines and hotels, simplifying transactions
- Generate virtual cards to pay suppliers, simplifying complex payment ecosystems and reducing fraud
Analytics dashboard
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Nuvei
nuvei.com/solutions/
analytics-dashboard
Drive smarter decisions with Nuvei's Analytics Dashboard. Access holistic payment data and detailed transaction insights on a single platform for improved business outcomes.
One platform. Actionable analytics
Integrate with our global data hub to maximize potential revenue. Automate data and report distribution to optimize your transactions.
Transparent data on demand
Access your payment activities and manage your merchant account data across all channels. Deep-dive into analytics, including traffic optimization, leading to higher approval rates and revenues
Real-time reports, processing comparisons, and case management all help identify opportunities to increase revenue and reduce lost sales.
- Unparalleled transparency in your payments data
- Turn large volumes of complex data into clear, actionable insights
- Unified, dynamic reporting for all your transaction activity
- Approve and block fraudulent transactions through our enhanced verification flow
- Automatically schedule reports for export
Say no to lost revenue
Convert more payment transactions through data-driven rules and innovative routing powered by advanced analytics.
Run reports and optimize payments from one central dashboard.
- Set custom rules for payment methods to present upon declines
- Maximize conversion for hosted check out
- Leverage Nuvei’s agnostic connectivity with multiple acquirers, banks and payment providers
- Reduced revenue leakage
We grow and scale with your business
Designed to scale with your business, Nuvei’s Control Panel is ideal for accommodating growth and evolving requirements without loss of performance.
With robust security built in, rest assured sensitive business and customer data is protected.
- Effortlessly adapts to business growth and expansion
- Supports increasing data volumes and user demands without performance loss
- Strong security protocols to protect business and customer data
- Robust user access controls to prevent unauthorized data access
Create better customer journeys
Smooth our your customer journey with intelligent exemption selections.
Our proprietary and powerful engine identifies the exemption types most likely to gain approval, ensuring a hassle-free experience for your customers.
- Customizable control for your specific business use cases
- Optimal risk management to ensure customer satisfaction
- Universal compatibility, designed to be acquirer agnostic
Uniting consulting and technology
Increase revenue, plus save time and money by automating your data streams. Get more control over fees, deposits, withdrawals, account balances and chargebacks.
Plus, get timely, meaningful information that allows you to stay ahead of the competition. For wherever business takes you next.
- Unparalleled transparency into your payments data
- Real-time merchant transaction information across all channels
- Increased engagement with client segments that drive higher revenue
- Easy-to-navigate, dashboard or deep-dive analytics
Real-time payments
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Nuvei
nuvei.com/solutions/
real-time-payments
Boost your business with Nuvei's real-time payments. Experience seamless, instant transaction processing to enhance cash flow and stay compliant with secure payment solutions.
Elevate your business offering with faster, more secure pay-ins and payouts
Enjoy quick, effortless transactions online or by phone, backed by our customizable fraud prevention and assured funds guarantee. Benefit from clear, detailed reporting for complete transparency.
Lightning-fast funds without delay
Why wait? Experience lightning-fast fund transfers with our instant payment solutions. Streamline your financial operations with ease and speed and delight your customers.
- Move funds quickly with faster and instant payment solutions
- Instantly validate accounts and ensure timely, effective payments
- Added flexibility to meet your fast-paced business needs
- Setup can be done quickly and easily to ensure rapid compliance
- Full integration support so that you can rest easy
Leverage real-time global payments
Harness the power of instant, real-time payments with our global network of providers. Our expansive reach offers unparalleled bank and country coverage, keeping you at the forefront of the financial world.
Boost your revenue and provide exceptional convenience to customers worldwide, facilitating growth at the speed of now.
- Bank Transfers: Real-time Payments (RTP®) and FedNow in the US, SEPA Instant in the EU, Faster Payments and Amex’s Pay with Bank Transfer in the UK, plus Interac® Instant for Canadian transactions
- Visa Direct & Mastercard Send: offering instant payment capabilities with secure money transfers, across various global banks and payment networks
- EWallets: including PayPal, Neteller, Skrill, Pay4Fun, EcoPayz, Much Better, and more for virtually instant payments and minimal processing fees
Provide a seamless customer checkout experience
Embrace a world where intricate transaction processes are replaced by a streamlined, intuitive experience.
This shift promises not only higher conversion rates but also reduced processing costs, and a fortified security environment.
- Efficient and secure, balancing protection and ease of use
- Integrated simplicity, to make every checkout seamless
- Extensive network access connects you to a wide array of banks and financial institutions
- Frictionless bank login and payment process for faster transactions
- Fast and dependable, transfer funds with remarkable speed and reliability
Bank transfers
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Nuvei
nuvei.com/solutions/
bank-transfers
Experience cost-efficient, reliable, and fast bank transfers with Nuvei. Streamline your payment processing, elevate customer satisfaction, and boost conversion rates globally.
Gain a competitive edge with faster payments and settlement, flexibility and security
Meet the fast-paced needs of your organization with our rapid and instant payment options that pave the way for growth. Our Open Banking Technology and vast global partnerships offer a competitive edge. Every major market and network, all through a single integration.
Provide a seamless customer experience
Our bank transfer solutions give your customers the advantage of paying with their banking information, all within your regular checkout experience.
Say goodbye to confusing transaction flows and hello to higher conversion rates, lower processing costs, and enhanced security.
- Simple, secure and flexible solution
- Single integration into your checkout experience
- Access to the major banks and financial institutions
- Frictionless, seamless bank login and payment
- Funds transfer is quick and reliable
Enhance consumer choice and convenience
Our bank transfer solutions are designed with your customers' preferences in mind, offering them a broader range of payment options that cater to their diverse needs.
This not only simplifies transactions but also broadens your appeal to a wider audience, including those who prefer not to use credit cards or seek alternatives to traditional payment methods.
- Enable customer bank choice at checkout
- No additional sign-ups to deter purchases
- Real-time options for faster payments
- Guaranteed and non-guaranteed models
- Support for all major customer banks
Secure your payments with unmatched protection
Step into a realm of unparalleled security with our zero chargeback solutions, designed to safeguard your business against fraud while securing your customers' sensitive data.
Our guaranteed solution assures that once a payment is made, it cannot be reversed by the payer. Unlike credit card payments which can be disputed by the cardholder, we make chargebacks a thing of the past.
- Peace of mind built into every transaction
- Historical checks and intelligent approval system minimizes potential returns
- Customizable security measures for fraud prevention tailored to your needs
- Comprehensive, consolidated reporting, crafted for your ease
Reduce customer costs to increase profits and loyalty
Offer your customers a seamless payment experience while enjoying the benefits of lower processing fees compared to traditional credit card transactions.
This cost-effective solution not only makes payments more affordable but also enhances operational efficiency, allowing you to invest more in growing your business.
- Lower per-transaction processing fees
- Minimal chargeback fees and risks
- Reduced interchange and network fees
- Direct bank-to-bank transaction savings
- Quicker access to your revenue
Unlock growth with our global banking network
Get unmatched country and bank coverage with our extensive network of global providers. Stay ahead of the curve and expand your revenue streams. Delight your customers with unparalleled convenience no matter where they are.
U.S. Bank Transfer
Automated Clearing House (ACH), Real-time Payments (RTP®), FedNow
EU Bank Transfer
SEPA, SEPA Instant
UK Bank Transfer
Faster Payments, Pay with Bank Transfer
Canada Bank Transfer
Interac®
Reconciliation management
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Nuvei
nuvei.com/solutions/
reconciliation-management
Streamline your financial processes with Nuvei's Reconciliation Management. Automate and manage payment reconciliation effortlessly for improved accuracy and efficiency.
Automated and streamlined
With a streamlined process, everything is faster, more accurate and less expensive to manage.
Automated and streamlined transaction management
Automatically match and reconcile your payments across multiple service providers and data sources. We can connect, integrate and monitor any new method.
With a streamlined process, everything is faster, more accurate and less expensive to manage.
- Save revenue that would otherwise be lost to mismatches, reconciliation errors and incorrect fees
- Get a clear overview of your finances and ensure that your revenue is exactly where it should be
- All credit cards and over 700 alternative payment methods are supported
Totally managed solution to save time and money
Nuvei Reconciliation Manager+ takes care of the entire process all the way from implementation to updates, and reporting.
Save more time, reduce customer support tickets, spot technical issues and save more money.
- Set up taken care of by a dedicated Account Manager
- Eliminate complexity and bookkeeping errors
- Recover lost revenue easier than ever
- Control processing fees across providers
Payment orchestration
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Nuvei
nuvei.com/solutions/
payment-orchestration
Master your payment operations with Nuvei's Payment Orchestration. Streamline and manage complex payment flows with our comprehensive tools for maximum control and insight.
Achieve best-in-class performance through one dashboard
Control and manage the entire payment process for optimal performance, sales and revenue.
Simple-to-use orchestration hub
Optimize and control your payment experience through the Control Panel of the Payment Orchestration hub.
Manage settings that can boost acceptance rates, increase security and reduce declines or capture more revenue.
- Configure, manage and personalize routing parameters
- Manage online exemptions to maximize authorizations and optimize approval rates
- Set limits and manage authentication to increase conversions and eliminate fraud
- Set custom rules fueled with business insights to ensure maximum conversions
- Risk analysis allows for strategic adjustments and personalization to stop chargebacks
Maximize acceptance rates
Boost your transaction approval and authorization rates by managing online exemption submissions.
More detailed data points mean more authorizations, better security, and a personalized, seamless experience for your customers.
- Descope PSD2 compliance
- Prevent fraud
- Manage risk
Rescue revenue from declined transactions
Convert more payments by avoiding declined transactions. From one dashboard, you can set and manage data-driven rules.
Advanced analytics power innovative transaction routing.
- Set custom rules based on your business insights for when payments are declined
- Maximize conversion for hosted check out
- Control and reporting from one central dashboard
Multi-faceted protection
Nuvei chargeback management tools can prevent and eliminate potential chargebacks before they happen - and mitigate the damage of those that do.
- Dynamic 3D Secure
- 3DS exemption management
- Verifi Order Insight (Visa)
- Verifi Rapid Dispute Resolution (Visa)
- Ethoca (Mastercard)
- Chargeback representment service
Understandable and actionable data
Keep on top of business performance with a crystal-clear view of your payments data across all channels.
- Totally transparent view and dynamic reporting of your payments data
- Spot actional insights amongst large volumes of complex data
- Understandable analytics, including traffic optimization for higher approval rates and revenues
- Block fraudulent transactions with enhanced verification flow
Live your best business life
Sometimes all you need is a nudge in the right direction. Business Coach is there to highlight when you could be achieving higher sales or customer engagement.
Business Coach offers actionable tips and key business metrics to help grow your business.
- Accelerate engagement with client segments that drive higher revenue
- Analyze your performance from a single dashboard that showcases your reviews and social media ratings
- React quickly to social media reviews by receiving instant alerts
- Turn new clients into repeat visitors
Crypto & digital assets
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Nuvei
nuvei.com/solutions/
crypto-digital-assets
Streamline your Web3 business with Nuvei's painless fiat-crypto conversion. Partner with us for seamless blockchain payment technologies and infrastructure to drive your crypto success.
Your route to mainstream success
Offering an unmatched range of services, we empower hundreds of partners to enable millions of people to buy billions of dollars in digital assets. We are the leading payment partner of over 450 leading exchanges, wallets, brokers, coins, NFT platforms and blockchain games.
A turnkey crypto experience
Nuvei's fiat on-ramp and off-ramp provides a smooth experience for converting between fiat and cryptocurrencies. Accessible to both those with no blockchain experience and on-chain gaming experts through a single API.
Join hundreds of global businesses and discover the power of fiat-crypto conversion on demand delivered by fully licensed, publicly listed provider.
- Enables Web2-style onboarding for Web3
- Wide payment options globally and locally
- 350+ partners: exchanges, wallets, brokers, and coins
- 3.5+ million end users, $4B+ in processed payments
- 100+ fiat currencies and 200+ cryptocurrencies
- Issuer of co-branded Visa for unified crypto transactions
Experience the power of stablecoin payments
Stablecoins are becoming a true alternative form of payment to offer to merchants on top of more traditional payment methods.
We enable real-time stablecoin transactions, easy conversion between fiat and stablecoins, and comprehensive settlement services tailored to meet your needs.
- Supports all stablecoins, including merchant-minted ones
- Nuvei connects to USDC on 14 blockchains
- Stablecoins bring stability to remittances
- 24/7 stablecoin settlements across blockchains
- Stablecoins lower costs, improve supply chain cash flow
- On-chain settlements reduce business operational costs
Take your blockchain project mainstream
One partnership for all your crypto business needs. Enable your blockchain assets for seamless onramps with 100+ fiat currencies, globally.
- Support for multiple blockchains and tokens adds flexibility
- Easy coin/token purchases with 100+ fiat currencies
- Grow your brand equity with our large partner network of leading exchanges, wallets and platforms
- Expand into new markets with global payment coverage
Easy and secure crypto payments
Accelerate transactions and enhance data accuracy, plus boost customer loyalty through our innovative crypto payment options. Experience the confidence of partnering with a provider that goes beyond fraud prevention to offer full-scale payment processing support.
Cryptocurrency payments broaden market access and lower costs by eliminating intermediaries, offering global reach with minimal transaction fees.
- Access new markets and facilitate global financial access
- Guaranteed zero fraud and no risk of chargebacks
- Reduce costs and simplify management compared with card payments
- Increase transaction speed and reduce security risks
- Boosts customer loyalty and trust through safe payments
- Instant access to funds with crypto, no middlemen
The future of paying for digital entertainment
Crypto is transforming gaming, offering significant advantages. Larger transaction limits, quicker payouts, and enhanced security minimize the need to share banking information.
With lower fees and global fund access, cryptocurrencies offer convenience and signals innovation. Additionally, players can receive bonuses as incentives for using crypto, enriching their gaming experience.
- Near real-time crypto transactions improve cash flow
- Crypto operations have less overhead
- Nominal blockchain fees vs. card fees
- Enhanced security with less data liability
- Growing customer demand for crypto support
- Access to new, unbanked legal markets
Empowering your journey into Web 3.0 and the Metaverse
Nuvei leads the move to Web 3.0, making your blockchain and Metaverse projects successful. With top partnerships and tools, we help you stand out.
Our approach gives users full control over their digital assets and privacy, boosting confidence in digital exploration.
- Multiple integration options
- Highly customizable UI and dynamic UX
- Supports several blockchain protocols: Ethereum, Polkadot, or Binance Smart Chain
- Smooth UX overcomes Web3 barriers like high fees and slow transactions
- Tailors experiences to user preferences
- Enhanced security, transparency and less central authority
Banking services
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Nuvei
nuvei.com/solutions/
banking-services
Elevate the buying experience with Nuvei's embedded financial services. Discover seamless integration today and transform your revenue streams.
Exceed expectations and grow stickiness
Keep customers within your ecosystem by adding financial services into your payment mix. Offer bank deposits and payouts, as well as cards and financing. Make it easier for customers to buy more, more often.
Fast, reliable and secure digital banking
Expand your global reach and optimize transactions with Nuvei Business Accounts. Deliver real-time funds access, lower fees, and seamless integration to enhance efficiency and financial control.
Streamline your financial operations with Nuvei as your single partner for acquiring, issuing, and banking services.
- Multi-currency accounts with European IBANs for EUR, GBP, and over 20 other currencies
- Instantly receive funds for faster working capital, and efficiently manage settlements with potentially lower costs
- Secure customer funds with dedicated solutions for VASPs and financial firms
- Flexible pay-ins and payouts via SEPA, SWIFT, open banking, and blockchain-based BMM processing
Turbo-charge your brand
Elevate your brand and streamline payments with Nuvei’s customizable physical and virtual cards, offering seamless and secure transactions across all channels.
We take care of all the back-office complications including card scheme approval, global regulatory compliance, technical setup and card manufacturing.
- Tailor physical and virtual cards to promote your brand identity
- Easily manage single-use or multi-use cards through one platform
- Automate secure transactions for online, in-store, and in-app purchases
- Manage vendor payments and scale operations cost-effectively with flexible card formats
Finance your business goals: no bank required
Your business moves fast. Make sure your financing can, too.
Access funds quickly to achieve your goals and seize more opportunities. No banks or red tape involved.
- Up to $1 million per business location
- Receive funds in under a week upon approval
- Pre-qualify in just 3 minutes
- No collateral required
- Flexible repayment options
Maximize revenue with consumer credit options
Grow your business with industry-leading buy now, pay later options. Get paid upfront while offering customers flexible payment terms.
Make it easier for your customers to get what they need right now. Best of all, it's integrated seamlessly into the checkout experience.
- Offer flexible installment plans for your customers
- Give consumers the freedom to pay at their own pace
- Increase customer conversions by offering more payment options
Chargeback resolution
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Nuvei
nuvei.com/solutions/
chargeback-resolution
Mitigate chargeback risks with Nuvei's effective resolution services. Streamline dispute processes, reduce fraudulent claims, and protect your revenue with our advanced tools.
Protection every step of the way
Prevent the majority of would-be chargebacks before they materialize. Transactions are protected with pre-chargeback mitigation, smart fraud-screening, alerts and communications.
Detect, control, and mitigate chargebacks
Reduce the costs of disputes and chargebacks with Nuvei Chargeback Resolve. Every chargeback actioned is centralized and managed through Nuvei’s Control Panel. The whole process maximizes transparency and efficiency.
- Prevention - alerts and enhanced communication minimizes unnecessary disputes
- Reduce operational costs - management chargebacks through one centralized dashboard
- Preserve your reputation - avoid chargeback monitoring programs and additional fees associated with a high-risk label
Additional tools from Visa & Mastercard
Control disputes or chargebacks quickly and easily with integrated solutions from Visa and Mastercard.
- Verifi Order Insight® (Visa) - respond to customer disputes in real-time by providing information between the customer and merchant
- Verifi Rapid Dispute Resolution® (Visa) - avoid chargebacks by issuing refunds and charging Nuvei directly with no clearing process
- Ethoca® (Mastercard) - gives merchants 24 hours to review, respond and action chargebacks
Currency management
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Nuvei
nuvei.com/solutions/
currency-management
Facilitate global commerce with Nuvei's Currency Management. Simplify FX transactions, enhance payment flexibility, and offer customers native currency options for improved satisfaction.
Make the world your local marketplace
Whether your customers want to do business with you online or in-store, we make it easier to do business with and encourage return visits.
Price your goods and services in the world’s most popular currencies
According to Insider Intelligence’s Global eCommerce report, 92% of customers prefer to buy from sites that price items in their local currency.
Make buying simple and frictionless for customers while receiving settlement and reporting in your domestic currency.
- Expand your business into new territories
- Enhance existing customer relationships
- Zero investment or infrastructure changes
Earn additional revenue from FX markup and attract more international customers
By offering customers pricing in their domestic currency, you can make card purchasing transparent and trustworthy while earning a percentage commission.
- Attract more international customers
- Protect cardholders against currency fluctuations
- Available both online and in-store
Fraud & risk management
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Nuvei
nuvei.com/solutions/
fraud-risk-management
Protect your business with Nuvei's Fraud & Risk Management solutions. Minimize threats and secure data while maintaining a smooth customer experience.
Protecting your business is critical
From advanced fraud detection to industrial grade tokenization and KYC, Nuvei protects you and your customers.
Reduce payment fraud and chargebacks with Nuvei Shields Up
Transaction data is our greatest weapon in the fight against fraud. Crush false positives with a powerful set of customizable tools without compromising customer experience.
- Set 200+ unique rules for your industry and market
- Increase conversion rates and reduce fraud with Smart 3DS Routing
- Automated decisioning using IP geo location and AVS / CVV rules
- Chargeback dispute tool for efficient case creation and management
- Smart Routing and Dynamic Descriptor to minimize potential chargebacks
Encrypt and access customer data for secure, frictionless payments
Replacing sensitive data with a secure token means faster and more secure payments that can help create a better customer experience.
Through a combination of our agnostic and network tokenization features, we offer one of the most flexible and complete solutions in the market.
- Encrypt and store customer payment information to make the checkout experience secure and frictionless
- Tokens are dynamically updated to deliver higher authorization rates, simplified fraud management, and an improved customer experience
- Payment methods are updated in real-time so cardholder credentials stay current even if a physical card is locked due to fraud
- Provides a better customer experience with fewer false declines due to outdated information
Ensure your security and compliance
We recognize the need for the highest security available to protect you and your customers. In compliance with PCI Data Security Standards, we have met and surpassed all requirements set forth as a Level 1 Service Provider.
Our technology and expert staff can help you reduce risk, chargebacks and simplify PCI DSS compliance.
- Mitigate threats before they become an issue
- Reduce effort and cost for Payment Card Industry (PCI) compliance
- Access solutions to descope your PCI DSS requirements
Authorization optimization
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Nuvei
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authorization-optimization
oost your transaction approval rates with Nuvei's Authorization Optimization. Benefit from advanced analytics and tailored strategies to enhance payment success and revenue.
Marginal gains can lead to big growth
Just like driving a finely tuned race car, every small improvement made adds up to significant gains. Maximize approval rates and revenue with features designed to guide every payment from checkout to completion.
Enhance checkouts to optimize conversions
Discover the future of optimized commerce with our AI-powered intelligent authorization solutions.
Fire up your revenue engine by boosting authorization success rates through our pre-transaction optimization tools.
- Single-click purchases to streamline transactions
- Boost approvals with smart retry technology
- Advanced rules to enrich and augment transaction messages
- Enhanced Network Tokens
Optimize transaction flows for higher approvals
Direct transactions intelligently to different banks. Increase sales and conversion rates by improving the chance of successful payment.
Generate more revenue and higher approvals by enabling virtually limitless routing possibilities. Every major payment service and gateway is supported.
- 3DS Routing
- Exemptions Engine
- Fraud Screening
- Bank Routing
- Decrease declines and checkout abandonment
Fine-tune your payment process for peak performance
Dive into a world where every transaction parameter is meticulously adjusted and optimized. Leverage artificial intelligence to ensure a smooth and successful checkout experience.
Watch your conversion rates soar as we intelligently re-attempt transactions to secure success.
- Boost approval rates and conversions with smart payment recovery
- Resolve token mismatch issues and address 3DS2 declines
- Transform soft declines into successful transactions
- Enhance the customer experience by streamlining card verification rules
Advanced monitoring and control at your fingertips
Elevate your payment strategy with insight-driven authorizations. With AI-driven tools built into our analytics suite, leverage the data you need for every transaction and authentication flow.
Steer your transaction traffic towards smoother roads and higher approval rates. Tailored insights mean you're in the driver's seat, accelerating towards optimized authorizations and financial performance.
- Leverage artificial intelligence to automate approval rate analysis
- Gain precise insights into transactions with customizable reports
- Benefit from machine learning to optimize authorizations
- Monitor performance and act on conversion-based reporting
- Navigate complex data to minimize risk and manage fraud
Nuvei accelerates roll out of embedded payments solution
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Nuvei
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nuvei-accelerates-roll-out-of-embedded-payments-solution
Fully customizable product enables businesses to embed payments into their own platforms.
Fully customizable product enables businesses to embed payments into their own platforms.
MONTREAL, November 15, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today the launch of Nuvei for Platforms, a payments solution being rolled out globally.
The fully customizable product enables businesses to embed payments into their own platforms as either a Nuvei branded or white label offering. It has been designed to serve the payment needs of eCommerce platforms, marketplaces, banks, processors and large fintechs.
Nuvei for Platforms comes with the complete functionality of Nuvei’s core modular platform, including merchants onboarding, pay in and pay-outs, optimization, orchestration, fraud, risk management and much more, all in a single and easy integration.
The new payment-platform-as-a-service solution is well suited for businesses that see payments as a crucial customer retention and revenue generation priority through delivering the best possible experience for their customers.
“We are thrilled to launch Nuvei for Platforms and help more companies accelerate their business,” said Nuvei CEO and Chair Philip Fayer.
“It reflects our drive to further diversify our distribution across both direct merchant integrations and through channels such as platforms and banks, making our offering even more ubiquitous Our offering gives our clients access to the most cutting-edge payment processing technology, and under their own brand if they prefer,” Fayer added.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 580 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com.
Contact:
Investor Relations
Public Relations
Over a quarter of Latin American cross-border eCommerce will come from Asia by 2026
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Nuvei
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over-a-quarter-of-latin-american-cross-border-ecommerce-will-come-from-asia-by-2026
Report examines eCommerce payment trends and growth levers between Asia-Pacific and Latin America markets
Report examines eCommerce payment trends and growth levers between Asia-Pacific and Latin America markets
MONTREAL, November 9, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today the launch of its latest whitepaper: Insights and Opportunities for Regional Expansion Success – Interconnecting Asia-Pacific and Latin America. This report examines eCommerce payment trends and growth levers between Asia-Pacific and Latin America markets, and details why Asian companies will represent 28% of Latin American eCommerce imports by 2026.
The report predicts that eCommerce in Brazil will grow at an annual rate of 20% between 2022 and 2026 to USD $328bn. In Mexico, eCommerce growth will increase 32% per year over the same period. Much of this growth will be driven by cross-border eCommerce with Asia, which currently only represents 16% of all eCommerce imports.
Other topics covered in the whitepaper include:
• Why Latin America is such an attractive market for Asian companies
• How market synergies between Asia and Latin America have fueled trade growth between the regions
• How businesses from other regions can replicate this success
• The role of local payment methods and acquiring partners in maximizing the opportunity for international businesses to grow in Latin America
Commenting on the report, Nuvei President Yuval Ziv said: “Latin America is a very relevant market for international businesses. Brazil and Mexico in particular are attractive for their size, dynamism and cultural patterns which are similar to Asian markets.”
“This study is the first in a series of reports that Nuvei will produce, exploring growth potentials in various regions. We believe that highlighting these fast-growing markets helps companies make better decisions when looking for expansion opportunities,” Ziv added.
Rafael Lavezzo, Commercial Vice President of Nuvei Latin America, said: “Globally, businesses are increasingly looking to expand their operations and target customers beyond their region of origin. Latin America is often at the top of the list for expansion.
“Many businesses based in APAC are already doing this very successfully. This report shares insights as to how these businesses are approaching the Latin America market, the overall size of the cross-border eCommerce opportunity, and the approach businesses need to take when dealing with payments in the region,” Lavezzo added.
“Many businesses based in APAC are already doing this very successfully. This report shares insights as to how these businesses are approaching the Latin America market, the overall size of the cross-border eCommerce opportunity, and the approach businesses need to take to payments in the region.”
Download your copy here: https://pages.nuvei.com/why-latin-america-and-asia
Methodology
The indicators come from the AMI Latin America eCommerce Library, a detailed eCommerce database developed annually by AMI, covering 17 markets in the region. AMI aggregates this data set from interviews with over 40 industry stakeholders across Latin America, accompanied by detailed research, analysis, and exclusive interviews with key APAC e-commerce vendors and about the APAC-Latin America digital corridor.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 580 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com.
Contact:
Public Relations
OnBuy selects Nuvei for digital marketplace payments
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Nuvei
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onbuy-selects-nuvei-for-digital-marketplace-payments
Marketplace OnBuy selects Nuvei as its payment partner to help the business grow in and beyond the UK
Marketplace OnBuy selects Nuvei as its payment partner to help the business grow in and beyond the UK
MONTREAL and LONDON, November 9, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today it has been selected by UK marketplace OnBuy as its payment partner to help the business execute on its growth initiatives in and beyond the UK.
OnBuy is investing in new, innovation-led partnerships using latest technologies to support the marketplace’s disruptive eCommerce model as it expands. The payment technology partnership with Nuvei is a key part of its growth strategy to cement its name as a trusted marketplace powerhouse in the UK.
OnBuy will draw on more than 580 alternative payment methods Nuvei provides and its on-demand payment technology support. Card processing and acquiring are also part of a mix of payment technology services provided to OnBuy by Nuvei.
“This partnership with Nuvei is the first step on our roadmap to give our customers and retailers a new, incredibly exciting version of OnBuy. We have invested millions of pounds in adding new features and functions to our site ahead of going live in 2023,” said OnBuy CEO Cas Paton.
“These changes require the most comprehensive, flexible, and scalable payment options. That’s why we partnered with Nuvei. We’re dedicated to being a trusted eCommerce alternative, providing a fair and transparent marketplace that is always moving forward. Nuvei, with its excellent support and next-generation technology, is helping us succeed in that mission,” Paton added.
Commenting on the partnership, Nuvei Chair and CEO Philip Fayer said: “As a technology-first company, we’re always innovating and developing new ways to help our customers accelerate their revenues and execute their own international expansion initiatives. We are delighted to be supporting OnBuy as they grow in the UK and beyond.”
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 580 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com.
Contact:
Investor Relations
Public Relations
About OnBuy
Founded in the UK in 2016 by Cas Paton, OnBuy has a simple vision: to be the best choice for every customer, everywhere. The brand has established itself in the eCommerce sector as a pure online marketplace that doesn’t compete with retailers. This fair and transparent approach provides an exceptional experience for buyers by levelling the playing field for sellers.
Offering 36 million products, OnBuy gives thousands of verified online retailers the platform to provide competitive prices and exceptional value to customers. From household names to independent sellers, buyers can shop securely for products from a wide range of categories, such as electricals, beauty, home and garden, toys, and baby supplies.
Trusted by millions of consumers and world leading brands, OnBuy’s mission is clear; it doesn’t compete, it partners with retailers. By understanding customers, OnBuy continues to deliver the shopping experience that they want again and again.
For more information, visit www.onbuy.com.
Contact:
Public Relations
Nuvei appoints Vicky Bindra as CPO / COO
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Nuvei
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nuvei-appoints-vicky-bindra-as-cpo-coo
Bindra will oversee Nuvei's product development and operations, supporting growth across geographies and verticals
Nuvei announces the appointment of Vicky Bindra as Chief Product and Operations Officer, effective November 14, 2022
MONTREAL, November 2, 2022 – Nuvei Corporation (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces the appointment of Vicky Bindra as Chief Product and Operations Officer, effective November 14, 2022.
In this newly created role reporting to Nuvei Chair and CEO Phil Fayer, Bindra will oversee product development and operations, supporting growth across geographies and verticals. His focus will be on delivering custom-made solutions and supporting processes designed to accelerate revenue for Nuvei’s customers. He will be based in San Francisco.
Bindra joins Nuvei from his position of Chief Product Officer at FIS where he was responsible for the strategic product function across the company, identifying and creating products and propositions for merchants, banks, fintechs, insurance and investment companies.
Prior to FIS, he had a successful career in payment and fintech, including being CEO of Pine Labs, the Sequoia-backed Indian Fintech Unicorn. He also managed Mastercard’s business across APAC and MEA as its president prior to leading product and solutions globally at Visa.
Bindra started his career in finance and strategy consulting with various senior leadership roles including CEO of GE Capital India, EVP at Citi and as a partner at Bain & Company.
He took numerous non-executive director and advisor positions at, among others, Inchcape, Blackhawk Network, CloudPay and Billtrust. He is a chartered accountant and has an MBA from MIT’s Sloan School of Management.
“I am delighted to see Vicky getting on board. Our growth comes from our beautiful products and technology, and Vicky, with his expertise and deep understanding of our end market will help shape our future,” said Fayer. “He will also bring with him his warmth and positivity that will radiate through the organization,” Fayer added.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 570 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com.
Contact:
Investor Relations
Public Relations
PR@nuvei.com
Nuvei Announces Third Quarter 2022 Results
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Nuvei
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nuvei-announces-third-quarter-2022-results
Nuvei Corporation (Nasdaq: NVEI) (TSX: NVEI), today reported its financial results for the three and nine months ended September 30, 2022
Nuvei Corporation (Nasdaq: NVEI) (TSX: NVEI), today reported its financial results for the three and nine months ended September 30, 2022
MONTREAL, November 3, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today reported its financial results for the three and nine months ended September 30, 2022.
“We are pleased with our results for the quarter, which exceeded the financial outlook previously provided. Results were driven by higher volumes and wallet share expansion as reflected in our constant currency volume growth of 38%, new client wins, our continued investment in technology and product offerings, and our geographic expansion,” said Philip Fayer, Nuvei’s Chair and CEO.
“We’re executing on our strategic initiatives and with the momentum we’re experiencing in the business year-to-date through October, we are increasing certain metrics as well as reaffirming the outlook for the full year 2022. We are also reiterating our medium and long-term targets.”
Financial Highlights for the Three Months Ended September 30, 2022
- Total volume(1) increased 30% to $28.0 billion from $21.6 billion;
- eCommerce represented 87% of total volume;
- Total volume growth at constant currency(1) was 38% with Total volume at constant currency(1) increasing to $29.7 billion from $21.6 billion;
- Revenue increased 7% to $197.1 million from $183.9 million;
- Revenue was impacted unfavorably by changes in foreign currency exchange rates year-over-year by $11.5 million;
- Revenue growth at constant currency(2) was 13% with Revenue at constant currency(2) increasing to $208.6 million from $183.9 million;
- Net income decreased by 54% to $13.0 million from $28.0 million, primarily due to a $22.6 million increase in share-based payments;
- Adjusted EBITDA(2) increased to $81.2 million from $80.9 million;
- Adjusted EBITDA was impacted unfavorably by changes in foreign currency exchange rates year-over-year by approximately $5 million;
- Adjusted net income(2) increased to $62.4 million from $62.3 million;
- Net income per diluted share decreased by 58% to $0.08 compared to $0.19;
- Adjusted net income(2) per diluted share increased to $0.43 compared to $0.42; and
- Adjusted EBITDA less capital expenditures(2) decreased by 8% to $68.5 million from $74.5
Financial Highlights for the Nine Months Ended September 30, 2022
- Total volume(1) increased 36% to $87.4 billion from $64.1 billion;
- eCommerce represented 87% of total volume;
- Total volume growth at constant currency(1) was 42% with Total volume at constant currency(1) increasing to $90.9 billion from $64.1 billion;
- Revenue increased 22% to $623.0 million from $512.7 million;
- Revenue was impacted unfavorably by changes in foreign currency exchange rates year-over-year by $28.3 million;
- Revenue growth at constant currency(2) was 27% with Revenue at constant currency(2) increasing to $651.3 million from $512.7 million;
- Net income decreased to $52.6 million from net income of $94.7 million, primarily due to a $83.4 million increase in share-based payments;
- Adjusted EBITDA(2) increased by 18% to $265.6 million from $225.8 million;
- Adjusted net income(2) increased by 16% to $206.2 million from $178.0 million;
- Net income per diluted share decreased by 47% to $0.34 from $0.64;
- Adjusted net income(2) per diluted share increased by 14% to $1.39 from $1.22;
- Adjusted EBITDA less capital expenditures(2) increased by 11% to $231.8 million from $208.3 million; and
- Cash balance of $754 million at September 30, 2022 compared to $749 million at December 31, 2021, mainly due to cash generation being offset by the repurchase and cancellation of approximately 8 million Subordinate Voting Shares for total consideration, including transaction costs, of $109 million.
(1) Total volume and Total volume at constant currency do not represent revenue earned by the Company, but rather the total dollar value of transactions processed by merchants under contractual agreement with the Company. See “Non-IFRS and Other Financial Measures”.
(2) Adjusted EBITDA, Revenue at constant currency, Revenue growth at constant currency, Adjusted net income, Adjusted net income per diluted share and Adjusted EBITDA less capital expenditures are non-IFRS measures and non-IFRS ratios. These measures are not recognized measures under IFRS and do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. See “Non-IFRS and Other Financial Measures”.
Operational Highlights
- Revenue for the third quarter of 2022 increased 4% to $105.5 million in Europe, the Middle East and Africa, increased 9% to $83.1 million in North America, increased 28% to $7.6 million in Latin America, and increased 47% to $1.0 million in Asia Pacific.
- North America eCommerce direct revenue increased 40% to $25.6 million in this year’s third quarter from last year’s third quarter, representing approximately 30% of total North America revenue.
- With respect to advancements in technology and product innovation, Nuvei:
- Enhanced its platform architecture and infrastructure to support a greater number of transactions per second than previously, accommodate local data protection residency rules further enabling the Company to expand in more countries around the world, and offer segregated environments for large customers should it be a requirement.
- Launched “Nuvei for Platforms” accelerating its marketplace offering with its fully customizable solution supporting complete functionality of its modular platform via a single integration.
- Enhanced its payment orchestration platform with a self-service routing manager allowing customers to choose the routing of transactions amongst different acquirers based on their preferences using the Company’s data analytics.
- Launched several additional products including Account Updater in Europe, Mastercard tokenization, Visa Account Funding Transaction Support, its partnership with Visa for buy now pay later in Canada, and its enhanced risk services and reporting offerings.
- Nuvei added multiple new alternative payment methods (“APMs”) increasing its portfolio to 586 at the end of the third quarter, expanding access and allowing its customers to accept more forms of regionally familiar and preferred digital payment method
- Nuvei received its gaming license in Maryland and Kansas, as well as a money transmitter license in Puerto Rico, expanding its online gaming reach in the United States.
- Nuvei expanded it executive leadership team with the hiring of Vicky Bindra in the newly created position of Chief Operating and Product Officer.
- The Company added 66 new team members in the third quarter of 2022, ending with 1,636 employees at September 30, 2022 compared with 1,368 employees at December 31, 2021.
Financial Outlook(3)
For the three months ending December 31, 2022 and the fiscal year ending December 31, 2022, Nuvei anticipates Total volume(1), Revenue, Revenue in constant currency and Adjusted EBITDA(2) to be in the ranges below.
The financial outlook, including the various underlying assumptions, constitute forward-looking information within the meaning of applicable securities laws and is fully qualified and based on a number of assumptions and subject to a number of risks described under the headings “Forward-Looking Information” and “Financial Outlook and Growth Targets Assumptions” of this press release.
Growth Targets
Nuvei’s medium-term(4) annual growth targets for Total volume(1) and revenue, as well as its long-term target for Adjusted EBITDA margin(2), are shown in the table below. These medium(4) and long-term(4) targets should not be considered as projections, forecasts or expected results but rather goals that we seek to achieve from the execution of our strategy over time, and at a further stage of business maturity, through geographic expansion, product innovation, growing wallet share with existing customers and new customer wins, as more fully described under the heading “Summary of Factors Affecting our Performance” of our most recent Management’s Discussion and Analysis of Financial Condition and Results of Operations. These growth targets, including the various underlying assumptions, constitute forward-looking information within the meaning of applicable securities laws and are fully qualified and based on a number of assumptions and subject to a number of risks described under the headings “Forward-Looking Information” and “Financial Outlook and Growth Targets Assumptions” of this press release. We will review and revise these growth targets as economic, market and regulatory environments change.
(1) Total volume do not represent revenue earned by the Company, but rather the total dollar value of transactions processed by merchants under contractual agreement with the Company. See “Non-IFRS and Other Financial Measures” below.
(2) Revenue at constant currency, Revenue growth at constant currency, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income, Adjusted net income per diluted share and Adjusted EBITDA less capital expenditures are non-IFRS measures. See “Non-IFRS and Other Financial Measures”.
(3) Other than with respect to revenue, the Company only provides guidance on a non-IFRS basis. The Company does not provide a reconciliation of forward-looking revenue at constant currency (non-IFRS), Adjusted EBITDA (non-IFRS) to net income (loss) due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. In periods where significant acquisitions or divestitures are not expected, the Company believes it might have a basis for forecasting the IFRS equivalent for certain costs, such as employee benefits, commissions and depreciation and amortization. However, because other deductions such as share-based payments, net finance costs, gain (loss) on financial instruments carried at fair market value and current and deferred income taxes used to calculate projected net income (loss) can vary significantly based on actual events, the Company is not able to forecast on an IFRS basis with reasonable certainty all deductions needed in order to provide an IFRS calculation of projected net income (loss). The amount of these deductions may be material and, therefore, could result in projected IFRS net income (loss) being materially less than projected Adjusted EBITDA (non-IFRS). These statements represent forward-looking information and may represent a financial outlook, and actual results may vary. See the risk and assumptions described under the headings “Forward-looking information” and “Financial Outlook and Growth Targets Assumptions” of this press release.
(4) The Company defines “Medium-term” as between three and five years and “long-term” as five to seven years.
Conference Call Information
Nuvei will host a conference call to discuss its third quarter 2022 financial results today, Thursday, November 3, 2022 at 8:30 am ET. Hosting the call will be Philip Fayer, Chair and CEO, and David Schwartz, CFO.
The conference call will be webcast live from the Company’s investor relations website at https://investors.nuvei.com under the “Events & Presentations” section. A replay will be available on the investor relations website following the call.
The conference call can also be accessed live over the phone by dialing 844-826-3033 (US/Canada toll-free), or 412-317-5185 (international). A replay will be available one hour after the call and can be accessed by dialing 844-512-2921 (US/Canada toll-free), or 412-317-6671 (international); the conference ID is 10171461. The replay will be available through Tuesday, November 17, 2022.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 47 markets, 150 currencies and 586 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com
Non-IFRS and Other Financial Measures
Nuvei’s unaudited condensed interim consolidated financial statements have been prepared in accordance with IFRS applicable to the preparation of interim financial statements, including International Accounting Standard (“IAS”) 34, Interim Financial Reporting, as issued by the International Accounting Standards Board. The information presented in this press release includes non-IFRS financial measures, non-IFRS financial ratios and supplementary financial measures, namely Adjusted EBITDA, Adjusted EBITDA margin, Revenue at constant currency, Revenue growth at constant currency, Organic Revenue at constant currency, Organic revenue growth at constant currency, Adjusted net income, Adjusted net income per basic share, Adjusted net income per diluted share, Adjusted EBITDA less capital expenditures, Total volume, Total volume at constant currency, Total organic volume at constant currency and eCommerce volume. These measures are not recognized measures under IFRS and do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS measures by providing further understanding of our results of operations from our perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of the Company’s financial statements reported under IFRS. These measures are used to provide investors with additional insight of our operating performance and thus highlight trends in Nuvei’s core business that may not otherwise be apparent when relying solely on IFRS measures. We also believe that securities analysts, investors and other interested parties frequently use these non-IFRS and other financial measures in the evaluation of issuers. We also use these measures in order to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts and to determine components of management compensation. We believe these measures are important additional measures of our performance, primarily because they and similar measures are used widely among others in the payment technology industry as a means of evaluating a company’s underlying operating performance.
Non-IFRS Financial Measures
Revenue at constant currency: Revenue at constant currency means revenue adjusted for the impact of foreign currency exchange fluctuations. This measure helps provide insight on comparable revenue growth by removing the effect of changes in foreign currency exchange rates year-over-year. Foreign currency exchange impact in the current period is calculated using prior period quarterly average exchange rates applied to the current period foreign currency amounts.
Organic revenue at constant currency: Organic revenue at constant currency means revenue excluding the revenue attributable to acquired businesses for a period of 12 months following their acquisition and excluding revenue attributable to divested businesses, adjusted for the impact of foreign currency exchange fluctuations. Foreign currency exchange impact in the current period is calculated using prior period quarterly average exchange rates applied to the current period foreign currency amounts. This measure helps provide insight on organic and acquisition-related growth and presents useful information about comparable revenue growth.
Adjusted EBITDA: We use Adjusted EBITDA as a means to evaluate operating performance, by eliminating the impact of non-operational or non-cash items. Adjusted EBITDA is defined as net income (loss) before finance costs (recovery), finance income, depreciation and amortization, income tax expense, acquisition, integration and severance costs, share-based payments and related payroll taxes, loss (gain) on foreign currency exchange, and legal settlement and other.
Adjusted net income: We use Adjusted net income as an indicator of business performance and profitability with our current tax and capital structure. Adjusted net income is defined as net income (loss) before acquisition, integration and severance costs, share-based payments and related payroll taxes, loss (gain) on foreign currency exchange, amortization of acquisition-related intangible assets, and the related income tax expense or recovery for these items. Adjusted net income also excludes change in redemption value of liability-classified common and preferred shares, change in fair value of share repurchase liability and accelerated amortization of deferred transaction costs and legal settlement and other.
Adjusted EBITDA less capital expenditures: We use Adjusted EBITDA less capital expenditures (acquisition of intangible assets and property and equipment) as a supplementary indicator of our operating performance. In the third quarter of 2022, we retrospectively modified the label of this measure from “Free cash flow” in order to clearly reflect its composition.
Non-IFRS Financial Ratios
Revenue growth at constant currency: Revenue growth at constant currency means the year-over-year change in Revenue at constant currency divided by reported revenue in the prior period. We use Revenue growth at constant currency to provide better comparability of revenue trends year-over-year, without the impact of fluctuations in foreign currency exchange rates.
Organic revenue growth at constant currency: Organic revenue growth at constant currency means the year-over-year change in Organic revenue at constant currency divided by comparable Organic revenue in the prior period. We use Organic revenue growth at constant currency to provide better comparability of revenue trends year-over-year, without the impact of acquisitions, divestitures and fluctuations in foreign currency exchanges rates.
Adjusted EBITDA margin: Adjusted EBITDA margin means Adjusted EBITDA divided by revenue.
Adjusted net income per basic share and per diluted share: We use Adjusted net income per basic share and per diluted share as an indicator of performance and profitability of our business on a per share basis. Adjusted net income per basic share and per diluted share means Adjusted net income less net income attributable to non-controlling interest divided by the basic and diluted weighted average number of common shares outstanding for the period. The number of share-based awards used in the diluted weighted average number of common shares outstanding in the Adjusted net income per diluted share calculation is determined using the treasury stock method as permitted under IFRS.
Supplementary Financial Measures
We monitor the following key performance indicators to help us evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions. Our key performance indicators may be calculated in a manner that differs from similar key performance indicators used by other companies.
Adjusted net income: We use Adjusted net income as an indicator of business performance and profitability with our current tax and capital structure. Adjusted net income is defined as net income (loss) before acquisition, integration and severance costs, share-based payments and related payroll taxes, loss (gain) on foreign currency exchange, amortization of acquisition-related intangible assets, and the related income tax expense or recovery for these items. Adjusted net income also excludes change in redemption value of liability-classified common and preferred shares, change in fair value of share repurchase liability and accelerated amortization of deferred transaction costs and legal settlement and other.
Adjusted EBITDA less capital expenditures: We use Adjusted EBITDA less capital expenditures (acquisition of intangible assets and property and equipment) as a supplementary indicator of our operating performance. In the third quarter of 2022, we retrospectively modified the label of this measure from “Free cash flow” in order to clearly reflect its composition.
Non-IFRS Financial Ratios
Revenue growth at constant currency: Revenue growth at constant currency means the year-over-year change in Revenue at constant currency divided by reported revenue in the prior period. We use Revenue growth at constant currency to provide better comparability of revenue trends year-over-year, without the impact of fluctuations in foreign currency exchange rates.
Organic revenue growth at constant currency: Organic revenue growth at constant currency means the year-over-year change in Organic revenue at constant currency divided by comparable Organic revenue in the prior period. We use Organic revenue growth at constant currency to provide better comparability of revenue trends year-over-year, without the impact of acquisitions, divestitures and fluctuations in foreign currency exchanges rates.
Adjusted EBITDA margin: Adjusted EBITDA margin means Adjusted EBITDA divided by revenue.
Adjusted net income per basic share and per diluted share: We use Adjusted net income per basic share and per diluted share as an indicator of performance and profitability of our business on a per share basis. Adjusted net income per basic share and per diluted share means Adjusted net income less net income attributable to non-controlling interest divided by the basic and diluted weighted average number of common shares outstanding for the period. The number of share-based awards used in the diluted weighted average number of common shares outstanding in the Adjusted net income per diluted share calculation is determined using the treasury stock method as permitted under IFRS.
Supplementary Financial Measures
We monitor the following key performance indicators to help us evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions. Our key performance indicators may be calculated in a manner that differs from similar key performance indicators used by other companies.
Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable securities laws, including Nuvei’s outlook on Total volume, Revenue, Revenue at constant currency and Adjusted EBITDA for the three months ending December 31, 2022 and the year ending December 31, 2022 as well as medium and long-term targets on Total volume, Revenue and Adjusted EBITDA margin. Forward-looking information is identified by the use of terms and phrases such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, or “continue”, the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking information contains these terms and phrases. Particularly, information regarding our expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate, expectations regarding industry trends and the size and growth rates of addressable markets, our business plans and growth strategies, addressable market opportunity for our solutions, expectations regarding growth and cross-selling opportunities and intention to capture an increasing share of addressable markets, the costs and success of our sales and marketing efforts, intentions to expand existing relationships, further penetrate verticals, enter new geographical markets, expand into and further increase penetration of international markets, intentions to selectively pursue and successfully integrate acquisitions, and expected acquisition outcomes and benefits, future investments in our business and anticipated capital expenditures, our intention to continuously innovate, differentiate and enhance our platform and solutions, expected pace of ongoing legislation of regulated activities and industries, our competitive strengths and competitive position in our industry, expectations regarding our revenue, revenue mix and the revenue generation potential of our solutions, expectations regarding our margins and future profitability, our financial outlook and guidance as well as medium and long-term targets in various financial metrics, and the future impact of the COVID-19 pandemic is forward-looking information. The Russia and Ukraine conflict, including potential impacts of sanctions, may also heighten the impact of certain factors described herein.
In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances. Forward-looking information is based on management’s beliefs and assumptions and on information currently available to management, regarding, among other things, general economic conditions and the competitive environment within our industry. See also “Financial Outlook and Growth Targets Assumptions”.
Unless otherwise indicated, forward-looking information does not give effect to the potential impact of any mergers, acquisitions, divestitures or business combinations that may be announced or closed after the date hereof. Although the forward-looking information contained herein is based upon what we believe are reasonable assumptions, investors are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Nuvei’s financial outlook also constitutes financial outlook within meaning of applicable securities laws and is provided for the purposes of assisting the reader in understanding management’s expectations regarding our financial performance and the reader is cautioned that it may not be appropriate for other purposes. Our medium and long-term growth targets serve as guideposts as we execute on our strategic priorities in the medium to long term and are provided for the purposes of assisting the reader in measuring progress toward management’s objectives, and the reader is cautioned that they may not be appropriate for other purposes.
Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond our control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors described in greater detail under “Risk Factors” of the Company’s annual information form filed on March 8, 2022 (the “AIF”). In particular, our financial outlook and medium and long-term targets are subject to risks and uncertainties related to:
- risks relating to our business and industry, such as the ongoing COVID-19 pandemic, including the resulting global economic uncertainty and measures taken in response to the pandemic, and increasing inflationary pressures and interest rates;
- a declining level of volume activity in certain verticals, including digital assets and cryptocurrencies, and the resulting negative impact on the demand for, and prices of, our products and services;
- the rapid developments and change in our industry;
- intense competition both within our industry and from other payments methods;
- challenges implementing our growth strategy;
- challenges to expand our product portfolio and market reach;
- challenges in expanding into new geographic regions internationally and continuing our growth within our markets;
- challenges in retaining existing clients, increasing sales to existing clients and attracting new clients;
- managing our growth effectively;
- difficulty to maintain the same rate of revenue growth as our business matures and to evaluate our future prospects;
- history of net losses and additional significant investments in our business;
- our level of indebtedness;
- risks associated with past and future acquisitions;
- challenges related to a significant number of our merchants being small-and-medium sized businesses (“SMBs”);
- concentration of our revenue from payment services;
- compliance with the requirements of payment networks;
- challenges related to the reimbursement of chargebacks from our merchants;
- decline in the use of electronic payment methods;
- changes in foreign currency exchange rates, inflation, interest rates, consumer spending trends and other macroeconomic factors affecting results of operations;
- loss of key personnel or difficulties hiring qualified personnel;
- impairment of a significant portion of intangible assets and goodwill;
- increasing fees from payment networks;
- challenges related to general economic, financial market and geopolitical conditions, business cycles and credit risks of our clients;
- reliance on third-party partners to sell some of our products and services;
- misappropriation of end-user transaction funds by our employees;
- fraud by merchants, their customers or others;
- the degree of effectiveness of our risk management policies and procedures in mitigating our risk exposure;
- the integration of a variety of operating systems, software, hardware, web browsers and networks in our services;
- the costs and effects of pending and future litigation;
- challenges to secure financing on favorable terms or at all;
- challenges from seasonal fluctuations on our operating results;
- changes in accounting standards;
- estimates and assumptions in the application of accounting policies;
- risks relating to intellectual property and technology;
- risks relating to regulatory and legal proceedings;
- the impact of supply chain challenges on our customers;
- measures determined in accordance with IFRS may be affected by unusual, extraordinary, or non-recurring items, or by items which do not otherwise reflect operating performance, making period-to-period comparisons less relevant; and
- any potential acquisitions or other strategic opportunities, some of which may be material in size or result in significant integration difficulties or expenditures, or otherwise impact our ability to achieve profitability on our intended timeline or at all.
Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein represents our expectations as of the date hereof or as of the date it is otherwise stated to be made, as applicable, and is subject to change after such date. However, we disclaim any intention or obligation or undertaking to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.
Financial Outlook and Growth Targets Assumptions
The financial outlook for the remainder of 2022 assumes greater currency headwinds than previously expected from the stronger U.S. dollar; higher volatility and lower volume in digital assets and cryptocurrencies than previously anticipated; and the potential impact from higher inflation and rising interest rates which could increase pressure on consumer spending in the second half of the year. The updated financial outlook and specifically the Adjusted EBITDA, as well as the Adjusted EBITDA margin long-term growth target, reflect the Company’s strategy to accelerate its investment in distribution, marketing, innovation, and technology. When measured as a percentage of revenue, these expenses are expected to decrease as our investments in distribution, marketing, innovation, and technology normalize over time.
Our financial outlook and growth targets are based on a number of additional assumptions, including the following:
- our results of operations and ability to achieve suitable margins will continue in line with management’s expectations,
- we will continue to effectively execute against our key strategic growth priorities, without any material adverse impact from the COVID-19 pandemic on our or our merchants’ business, financial condition, financial performance, liquidity nor any significant reduction in demand for our products and services,
- losses owing to business failures of merchants and customers will remain in line with anticipated levels,
- existing customers growing their business and expanding into new markets within selected high-growth eCommerce and mobile end-markets, including online retail, online marketplaces, digital goods and services, regulated online gaming, social gaming, financial services and travel;
- our ability to cross-sell and up-sell new and existing products and services to our existing customers with limited incremental sales and marketing expenses;
- our customers increasing their daily sales, and in turn their business volume of our solutions, at growth rates at or above historical levels for the past few years;
- our ability to maintain existing customer relationships and to continue to expand our customers’ use of more solutions from our Native Commerce Platform at or above historical levels for the past few years;
- our ability to leverage our sales and marketing experience in capturing and serving SMBs in North America and large enterprises in Europe and enable customer base expansion by targeting large enterprises in North America, with a focus in the eCommerce and mobile commerce channels;
- our sales and marketing efforts and continued investment in our direct sales team and account management driving future growth by adding new customers adopting our technology processing transactions in existing and new geographies at or above historical levels;
- our ability to further leverage our broad and diversified network of distribution partners;
- our ability to expand and deepen our footprint and to add new customers adopting our technology processing transactions in geographies where we have an emerging presence, such as Asia Pacific and Latin America;
- our ability to expand and keep our portfolio of services technologically current through continued investment in our Native Commerce Platform and to design and deliver solutions that meet the specific and evolving needs of our customers;
- our ability to maintain and/or expand our relationships with acquiring banks in North America;
- our continued ability to maintain our competitiveness relative to competitors’ products or services, including as to changes in terms, conditions and pricing,
- our continued ability to manage our growth effectively,
- we will continue to attract and retain key talent and personnel required to achieve our plans and strategies, including sales, marketing, support and product and technology operations, in each case both domestically and internationally,
- our ability to successfully identify, complete, integrate and realize the expected benefits of, acquisitions and manage the associated risks, such as the Base Commerce, Mazooma, Simplex and Paymentez acquisitions, as well as future acquisitions;
- gradual recovery in macroeconomic conditions and financial markets following 2022, and absence of material adverse changes in economic conditions in our core markets, geographies and verticals,
- average foreign currency exchange rates remaining at near current levels;
- interest rates increasing modestly and inflation remaining in line with central bank expectations in countries where we are doing business;
- the absence of adverse changes in legislative or regulatory matters,
- our continued ability to upskill and modify our compliance capabilities as regulations change or as we enter new markets, such as our customer underwriting, risk management, know your customer and anti-money laundering capabilities, with minimal disruption to our customers’ businesses;
- our liquidity and capital resources, including our ability to secure debt or equity financing on satisfactory terms;
- the absence of adverse changes in current tax laws,
- our ability to expand profit margins by reducing variable costs as a percentage of total expenses, and leveraging fixed costs with additional scale and as the issuer’s investments in, for example, direct sales and marketing normalize; and
- increases in volume driving profitable revenue growth with limited additional overhead costs required, as a result of the highly scalable nature of our business model and the inherent operating leverage.
Contact:
Investors
Anthony Gerstein
Vice President, Head of Investor Relations
anthony.gerstein@nuvei.com
Statements of Profit or Loss and Comprehensive Income or Loss Data
(in thousands of U.S. dollars except for shares and per share amounts)
Reconciliation of Adjusted EBITDA and Adjusted EBITDA less capital expenditures to Net Income
(In thousands of U.S. dollars)
- These expenses relate to:
- professional, legal, consulting, accounting and other fees and expenses related to our acquisition activities and financing activities. For the three months and nine months ended September 30, 2022, those expenses were $2.8 million and $6.2 million ($0.7 million and $10.5 million for the three months and nine months ended September 30, 2021). These costs are presented in the professional fees line item of selling, general and administrative expenses.
- acquisition-related compensation were $7.5 million and $14.3 million for the three months and nine months ended September 30, 2022 and $6.3 million for the three months and nine months ended September 30, 2021. These costs are presented in the employee compensation line item of selling, general and administrative expenses.
- change in deferred purchase consideration for previously acquired businesses. $0.5 million and $1.0 million gain were recognized for the three months and nine months ended September 30, 2022, and nil for 2021. These amounts are presented in the contingent consideration adjustment line item of selling, general and administrative expenses.
- severance and integration expenses, which were $1.5 million and $2.1 million for the three months and nine months ended September 30, 2022 ($0.3 million for the three months and nine months ended September 30, 2021). These expenses are presented in selling, general and administrative expenses.
- These expenses represent expenses recognized in connection with stock options and other awards issued under share-based plans as well as related payroll taxes that are directly attributable to share-based payments. For the three months and nine months ended September 30, 2022, the expenses consisted of non-cash share-based payments of $33.8 million and $103.7 million ($11.2 million and $20.2 million for three months and nine months ended September 30, 2021), immaterial and $0.1 million for related payroll taxes (nil in 2021).
- This line item primarily represents legal settlements and associated legal costs, as well as non-cash gains, losses and provisions and certain other costs. These costs are presented in selling, general and administrative expenses.
Reconciliation of Adjusted net income and Adjusted net income per basic share and per diluted share to Net Income
(In thousands of U.S. dollars except for share and per share amounts)
- This line item relates to amortization expense taken on intangible assets created from the purchase price adjustment process on acquired companies and businesses and resulting from a change in control of the Company.
- These expenses relate to:
- professional, legal, consulting, accounting and other fees and expenses related to our acquisition activities and financing activities. For the three months and nine months ended September 30, 2022, those expenses were $2.8 million and $6.2 million ($0.7 million and $10.5 million for the three months and nine months ended September 30, 2021). These costs are presented in the professional fees line item of selling, general and administrative expenses.
- acquisition-related compensation was $7.5 million and $14.3 million for the three months and nine months ended September 30, 2022 and $6.3 million for the three months and nine months ended September 30, 2021. These costs are presented in the employee compensation line item of selling, general and administrative expenses.
- change in deferred purchase consideration for previously acquired businesses. $0.5 million and $1.0 million gain were recognized for the three months and nine months ended September 30, 2022, and nil for 2021. These amounts are presented in the contingent consideration adjustment line item of selling, general and administrative expenses.
- severance and integration expenses, which were $1.5 million and $2.1 million for the three months and nine months ended September 30, 2022 ($0.3 million for the three months and nine months ended September 30, 2021). These expenses are presented in selling, general and administrative expenses.
- These expenses represent expenses recognized in connection with stock options and other awards issued under share-based plans as well as related payroll taxes that are directly attributable to share-based payments. For the three months and nine months ended September 30, 2022, the expenses consisted of non-cash share-based payments of $33.8 million and $103.7 million ($11.2 million and $20.2 million for three months and nine months ended September 30, 2021), immaterial and $0.1 million for related payroll taxes (nil in 2021).
- This line item primarily represents legal settlements and associated legal costs, as well as non-cash gains, losses and provisions and certain other costs. These costs are presented in selling, general and administrative expenses.
- This line item reflects income tax expense on taxable adjustments using the tax rate of the applicable jurisdiction.
- The number of share-based awards used in the diluted weighted average number of common shares outstanding in the Adjusted net income per diluted share calculation is determined using the treasury stock method as permitted under IFRS.
Revenue by geography
The following table summarizes our revenue by geography based on the billing location of the merchant:
The following table reconciles Revenue to Revenue at constant currency and Revenue growth at constant currency for the period indicated:
Reconciliation of Organic revenue at constant currency and Organic revenue growth at constant currency to Revenue
The following table reconciles Revenue to Organic revenue at constant currency and Organic revenue growth at constant currency for the period indicated:
(a) We acquired Mazooma Technical Services Inc. (“Mazooma”) on August 3, 2021, and SimplexCC Ltd. (“Simplex”) and Paymentez LLC (“Paymentez”) on September 1, 2021.
Nuvei launches instant settlement in new geographies
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Nuvei
nuvei.com/posts/
nuvei-launches-instant-settlement-in-new-geographies
Merchant clients can now benefit from instant settlement globally and around the clock in EUROC and USDC stablecoins
Nuvei brings new instant settlement options to merchants globally, aiding regions where instant account-to-account payment solutions are not available
MONTREAL, October 20, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that its merchant client base can now benefit from instant settlement globally and around the clock in EUROC and USDC stablecoins.
Fast liquidity is a real revenue accelerator for businesses. While merchants in many countries benefit from instant settlement through various payment schemes such as Instant SEPA, RTP or Faster Payments, alternatives are not always available in all corners of the world. That is where stablecoins come in.
Stablecoins are price-stable digital currencies backed by a fiat currency such as the Euro or US Dollar. Because they combine the benefits of open, borderless cryptocurrency with the price stability of traditional currencies, stablecoins provide new ways to support corporate finance and working capital management.
“The addition of settlement through the EUROC and USDC stablecoins helps merchants build their next-generation payment treasury,” said Nuvei President Yuval Ziv. “Stablecoins can be transacted by utilizing the blockchain making global cashflow easier to manage,” he added.
Nuvei already offers its merchants instant settlement in locations where Instant SEPA, RTP and Faster Payments are available in fiat currencies. But for those merchants trading on the blockchain or those located in regions where these options are not available, settlement in USDC and EUROC stablecoins provides a much needed, viable alternative.
“Providing instant settlement for merchants is part of the broader real-time payments initiatives designed to shape the future of payments,” said Ziv. “With instant settlement now possible globally, around-the-clock and also in EUROC and USDC stablecoins, we’re staying true to our mission of helping merchants accelerate their business through payments.”
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 570 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com.
Contact:
Investor Relations
Public Relations
Vanguard selects Nuvei as payment partner to accelerate their business
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Nuvei
nuvei.com/posts/
vanguard-selects-nuvei-as-payment-partner-to-accelerate-their-business
Nuvei has been selected by Vanguard Truck Centers as a payment provider to help accelerate the growth of their multi-regional, full-service U.S. commercial truck dealer group
Nuvei has been selected by Vanguard Truck Centers as a payment provider to help accelerate the growth of their multi-regional, full-service U.S. commercial truck dealer group
MONTREAL and ATLANTA, October 18, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), tomorrow’s payment platform, announces today that it has been selected by Vanguard Truck Centers as a payment provider to help accelerate the growth of their multi-regional, full-service U.S. commercial truck dealer group.
Nuvei’s end-to-end payment solutions accessed through a single integration supports Vanguard’s entire business-to-business payment processing needs as they grow.
Trucking is responsible for most of the overland freight movement in the U.S. with the market being worth $732 billion in 2020[1] with more than 10 billion tons of freight transported by trucks in the same year.[2].
Vanguard, which has more than 900 employees, owns and operates full service commercial truck and leasing centers in 24 US locations including Georgia, South Carolina, North Carolina, Texas, Missouri, Illinois and Arizona. As well as heavy truck sales of brands such as Mack, Volvo and US Autocar, Hino and Isuzu, the Atlanta-based business provides truck leasing and rentals, service and repairs, over-the-counter and online parts, along with finance and insurance services.
Nuvei is helping Vanguard optimize levels of interchange credit card processing rates and fees. Other support includes next-day funding, weekly reporting of daily transaction analysis, functionality to help minimize fraud and payments handling for higher-value transaction security, stream-lined PCI compliance support and a dedicated relationship management and business-to-business support team.
“The digitalization of payments has become a business priority across our industry, which often has complex operational structures and payment processes built on older technology,” said Will Blue, CFO of Vanguard Truck Centers.
“Our business is constantly assessing and optimizing how we can both improve the customer experience and support the bottom line. From the outset, Nuvei understood the complexity of our business model and continues to demonstrate the agility to optimize costs of our digital payments while providing high-quality, hands-on consultative service,” Blue added.
Commenting on the partnership, Nuvei Chair and CEO Philip Fayer said: “With our payment technology expertise, we help Vanguard increase acceptance rates. We are excited to be on this journey with Vanguard as it focuses on driving new sales.”
[1] Statista: Trucking industry in the U.S. – statistics & facts
[2] American Trucking Association – Economics and Industry Data
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow’s payment platform. Designed to accelerate customers’ business, Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 570 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com.
Contact:
Investor Relations
anthony.gerstein@nuvei.com
Public Relations
gavin.haycock@nuvei.com
About Vanguard Truck Centers
Vanguard Truck Centers owns and operates full service commercial truck and leasing centers in the United States, representing truck manufacturers such as Mack Trucks, Inc., Volvo Trucks North America, Isuzu, Hino, and Autocar. Vanguard offers comprehensive transportation solutions through 24 locations in Arizona, Georgia, Illinois, Missouri, North Carolina, South Carolina and Texas. The Vanguard mission is to exceed customer expectations through its entire product and service offering, including new trucks, premium used trucks, lease & rental, all makes parts, service & body shops and finance & insurance services.
For more information, please visit https://www.vanguardtrucks.com/
Lottomatica selects Nuvei as exclusive payment partner
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Nuvei
nuvei.com/posts/
lottomatica-selects-nuvei-as-exclusive-payment-partner
Nuvei is exclusively supplying payment technology for Lottomatica, a leading operator offering online sports betting, casino and poker in the regulated Italian iGaming market, as it re-platforms its digital services
Nuvei is exclusively supplying payment technology for Lottomatica, a leading operator offering online sports betting, casino and poker in the regulated Italian iGaming market, as it re-platforms its digital services
MONTREAL, October 13, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), tomorrow’s payment platform, announces today that it is exclusively supplying payment technology for Lottomatica, a leading operator offering online sports betting, casino and poker in the regulated Italian iGaming market, as it re-platforms its digital services.
Nuvei is enabling Lottomatica to offer a market-leading payment experience to its players for deposits and withdrawals via Nuvei’s integrated cashier technology and local acquiring solutions, including smart transaction routing to minimize costs and boost card acceptance rates. In addition to card payments, Lottomatica players can complete transactions using all the most relevant alternative payment methods players’ demand. These alternative payment methods are available to players through the same single integration with Nuvei.
“We’re thrilled to be partnering with Nuvei to provide our players with the payments experience we know they demand,” said Alessandro Fiumara, Lottomatica Managing Director Betting and Digital Italy. “Payments are fundamental to delivering a superior product in iGaming, which is why they are key to winning and retaining players and maximizing revenue.”
Nuvei Chair and CEO Philip Fayer said: “Lottomatica is one of the premier iGaming brands in the regulated Italian gaming market. We’re pleased to be offering a complete payments solution to support the growth of another leading European iGaming operator.
“We continue to demonstrate why Nuvei is the leading payments provider for the iGaming industry in Italy, Europe, and the globe. Our fully customizable technology, dedication to superior customer service, and deep knowledge of regulated markets set us apart from the rest of the industry,” Fayer added.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow’s payment platform. Designed to accelerate customers’ business, Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 570 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com
Contact:
Investor Relations
Public Relations
About Lottomatica
Lottomatica S.p.A. is the first group in the gaming market authorized by the Customs and Monopoly Agency in Italy and one of the major players in Europe. It is active in three product areas: sports betting, online games, amusement and entertainment machines. Lottomatica can count on the skills of 1,500 direct employees and of 16,000 people working in our specialist franchise network. With approximately €1.6 billion of revenues, Lottomatica is the market leader in all segments of operations and offers safe and engaging gaming experiences across all sales channels. Lottomatica boasts approximately 1 million of online customers, a franchising network of roughly 3,000 points of sale in sports betting, 1,400 gaming halls, 12,000 tobacconists/bars, and a proprietary network of around 130 gaming venues.
For more information, visit www.lottomaticagroup.com
Nuvei Simply Connect is making enterprise-grade payments available to small and medium-sized businesses
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Nuvei
nuvei.com/posts/
nuvei-simply-connect-is-making-enterprise-grade-payments-available-to-small-and-medium-sized-businesses
Nuvei Simply Connect provides businesses with an easy-to-integrate, feature-rich, fully customizable transaction page solution
Nuvei Simply Connect provides businesses with an easy-to-integrate, feature-rich, fully customizable transaction page solution
MONTREAL, October 11, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), tomorrow’s payment platform, announces today the launch of Nuvei Simply Connect, a ready-to-use, fully customizable payments interface designed to help businesses accelerate their growth.
Until today, merchants without large in-house development were left with low performing products that did not give them the ability to customize, localize and adapt to the needs of their business.
Nuvei Simply Connect is a Software Developer Kit (SDK) solution that is simple to implement and customize and comes with the leading features and capabilities from Nuvei’s enterprise-grade core product, making it the most complete and easy to deploy SDK solution in the market to date.
Thanks to Nuvei’s modular approach, the solution allows merchants to connect seamlessly to any part of an existing payment stack a business may have. It includes features Nuvei usually provides to its top merchants, such as the largest offering of payment methods available on the market, leading fraud and risk management, PCI and 3DS compliance, authorization rate boosters and best-in-class analytics and reporting.
Everything with Simply Connect has been designed to enable merchants and platforms of any size to customize and improve the customer experience, the transaction page to completely blend with the rest of a site’s layout and make loading time issues a thing of the past. The simple ‘very low code’ tools allow a business to modify fonts and colors, choose optimal payment methods, currencies and languages to display.
“Accepting payments should not be complicated. At Nuvei, we are committed to helping businesses of all sizes around the world deliver unique consumer experiences and accelerate their growth. That’s why we are delighted to be launching Simply Connect which makes enterprise-grade payments technology available to all,” said Nuvei Chair and CEO Philip Fayer.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow’s payment platform. Designed to accelerate customers’ business, Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 570 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com.
Contact:
Investor Relations
anthony.gerstein@nuvei.com
Public Relations
gavin.haycock@nuvei.com
Multi Wholesale Supplies partners with Nuvei to grow its global footprint and boost conversion
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Nuvei
nuvei.com/posts/
multi-wholesale-supplies-partners-with-nuvei-to-grow-its-global-footprint-and-boost-conversion
Supporting a leading B2B medical retailer with card acquiring and anti-fraud tools that will ramp up revenue
Supporting a leading B2B medical retailer with card acquiring and anti-fraud tools that will ramp up revenue
MONTREAL, JULY 19, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), tomorrow’s payment platform, announces today it is has partnered with Multi Wholesale Supplies, a top B2B retailer for medical equipment, to help expand the retailer’s global footprint and increase conversion with card processing, global card acquiring, and fraud management services.
Prague-based Multi Wholesale Supplies provides medical equipment to private offices, wholesalers, medical and dermatology clinics, medical spas and stores. Nuvei and Multi Wholesale Supplies are driving the medical supply industry forward, moving B2B merchants away from invoice billing to real time payments.
Working with Nuvei for its flexible acquiring services, Multi Wholesale Supplies is creating increasingly seamless transactions to boost its B2B conversion rates. The medical supplies business is also growing its revenue thanks to Nuvei’s rigorous fraud management system that identifies risky transactions with potential chargebacks.
“We’re continually growing our Europe-focused B2B payments offering,” said Nuvei Chair & CEO Phil Fayer. “As a company that believes in technological innovation and exceptional service, we’re delighted to work with Multi Wholesale Supplies.”
Leveraging Nuvei’s more than 550 alternative payment methods and local acquiring in 46 markets, Multi Wholesale Supplies can now facilitate seamless payments for medical professionals with payment methods of their choice.
“We pride ourselves on superior customer service that helps our clients’ patients and customers live healthier, happier, more comfortable lives,” said Tsekov Vladimir, Director of Multi Wholesale Supplies. “Working with Nuvei has allowed us to enhance our approach to payments as we focus on growing our business in and beyond Europe.”
About Multi Wholesale Supplies
Multi Wholesale Supplies is a top provider of medical products and equipment. We cater to private offices, wholesalers, medical and dermatology clinics, medical spas, stores and more.
We’re proud to offer incredibly affordable prices and a fantastic selection, thanks to our global supplier network. We understand how important it is for our customers to offer the highest quality services to their patients, which is why we provide the industry’s top brands. Delivery is available worldwide and our customer service is unparalleled.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow’s payment platform. Designed to accelerate customers’ business, Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 550 alternative payment methods, including cryptocurrencies, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
Contact:
Investor Relations
Public Relations
keira.mcdermott@nuvei.com
Xenia Global partners with Nuvei to accelerate its consumer wellbeing direct selling business
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Nuvei and Xenia Global are future-proofing payments to drive revenue for independent business owners
Nuvei and Xenia Global are future-proofing payments to drive revenue for independent business owners
MONTREAL, AUGUST 4, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), tomorrow’s payment platform, announces today it is has partnered with Xenia Global, a leading Italian beauty and wellbeing retailer. The partnership brings secure, reliable payment processing to Xenia Global’s network of direct sales Independent Business Owners to help drive overall business growth.
Led by a team of doctors, pharmacists, researchers and sector professionals, Xenia Global’s product range includes cosmetics, fragrances, food and wellbeing supplements, and performance technology for the clothing industry.
Xenia Global chose to work with Nuvei for its real-time fraud detection, security and scoring engine to eliminate transaction fraud, as well as its seamless platform integration, excellent IT services, and extensive experience and support in payments technology innovation for the direct selling sector. Leveraging Nuvei’s Smart 3DS service, Xenia Global will be able to automatically direct any payment flow through the best authentication process depending on exemptions, rules, and individual risk assessments.
“Consumers are increasingly looking for products and garments that enhance their wellbeing and offer them greater versatility during work, leisure and social activity and season to season. With our model of conscious and ethical business, we are helping to serve that need in our own unique way,” said Eugenia Conforti, CEO of Xenia Global. “Working with Nuvei has allowed us to enhance our approach to payments security and our Independent Business Owners’ experiences as we focus on growing our business together.”
Commenting on the payments partnership, Nuvei Chair and CEO Philip Fayer said: “As a next-generation payment provider, helping clients like Xenia Global with both our technology and expertise is important to us. Responsible commerce is integral to our approach, and, like Xenia, the real engine behind our success is our human touch. We are delighted to be helping Xenia as it focuses on driving new eCommerce sales and we push the boundaries of what is possible in payments.”
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow’s payment platform. Designed to accelerate customers’ business, Nuvei’s modular, flexible, and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk, and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 550 alternative payment methods, including cryptocurrencies, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com.
Contact:
Investor Relations
Public Relations
About Xenia Global
Xenia was born in 2005 from an ambitious and stimulating project: to become an ambassador of well-being not only in Italy, but also abroad. Its founders Eugenia Conforti and Mario Partenope have over thirty years of experience in the industry of network marketing and direct sales.
Xenia boasts a wide range of products of the highest quality in the wellness, beauty, and performance sector, distributed to the general customers thanks to a network of reliable, competent, and professional Independent Business Owners.
For over 10 years, Xenia has been a member of Avedisco, the most important direct sales association in Italy, which protects both consumers and Independent Business Owners, guaranteeing the principles and values necessary for a successful and lasting business: Ethics, Correctness, Seriousness, and respect for the rules.
Nuvei expands Board of Directors with appointments of Maren Lau and Tim Dent
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Appointments expand Nuvei’s Board to eight members and brings the Board closer to achieving its gender diversity targets
Appointments expand Nuvei’s Board to eight members and brings the Board closer to achieving its gender diversity targets
MONTREAL, August 5, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), announced today it has appointed two new independent directors, technology veterans Maren Lau, Regional Vice President, Latin America at Meta Platforms, Inc. and Tim Dent, former Chief Financial and Chief Compliance Officer of DraftKings Inc. Today’s appointments expand Nuvei’s Board to eight members and brings the Board closer to achieving its gender diversity target of 30% female representation by the end of 2023.
Maren Lau is Regional Vice President at Meta for Latin America, helping brands leverage the company’s platforms to drive long-term business results in the region, and to prepare for the metaverse, the next evolution of social connection. She also leads the regional teams to advance Meta’s mission — giving people the power to build communities and bring the world closer together — with positive economic and social impact in the region. Prior to this, Maren was a founding partner and CMO at digital marketing company IMS, where she built a regional business scaling sales and marketing strategies for leading global technology companies throughout Latin America.
Tim Dent is a former executive with over 20 years of online gaming experience. Previously he was the Chief Financial and Chief Compliance Officer at DraftKings, joining the company at a very early stage and building those functions during its rapid growth. While at DraftKings, Mr. Dent also built and oversaw the legal and legislative affairs departments, risk management and payments functions. Prior to joining DraftKings, Mr. Dent held multiple executive leadership roles at Everest Gaming, a once leading online European poker and casino operator. During his tenure at Everest, he led many efforts in all of stages of the company’s lifecycle from startup, to rapid revenue growth and market expansion, and its transition from an unregulated to regulated operating environment.
“Both Maren and Tim are proven leaders who bring extensive knowledge and experience that is beneficial to our business and highly relevant to our growing industry verticals and geographies,” said Nuvei’s Chair and CEO Philip Fayer. “They are outstanding additions to our Board and we look forward to working with and learning from them.”
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow’s payment platform. Designed to accelerate customers’ business, Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 550 alternative payment methods, including cryptocurrencies, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com.
Contact:
Investors
Anthony Gerstein
Vice President, Head of Investor Relations
Kindred selects Nuvei to enhance their payment offering
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Nuvei is enabling Kindred to accept deposits and initiate payouts in multiple key European markets
Nuvei is enabling Kindred to accept deposits and initiate payouts in multiple key European markets
MONTREAL, September 15, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), tomorrow’s payment platform, announces that it is entering into a partnership with Kindred Group plc to support the sports betting, bingo, and online casino operator with payment services in many of its key markets.
Nuvei is enabling Kindred players across Europe to deposit and request payouts via its market-leading payment acceptance, acquiring services, instant payout and smart routing technology.
Nuvei’s smart transaction routing capabilities, sophisticated and customizable approach to PSD2 Strong Customer Authentication, and deep iGaming industry and regulatory knowledge, enable Kindred Group to maximize card acceptance rates. Nuvei’s market-leading platform features, including partial approvals and one-click deposits for returning players are also boosting player conversion and accelerate Kindred’s revenue growth through payments.
Kindred Group operates a number of highly successful iGaming brands in Europe including Unibet, Maria Casino, 32Red, and Bingo.com.
“Maximizing player conversion in our cashier, including via best-in-class card acceptance rates, is critical to our growth ambitions. Nuvei has an excellent reputation in iGaming and a proven track record of delivering a seamless and secure payment experience in countries all over the globe. This made it an easy decision to partner in many of our key markets,” said Mickael Marceau, Director Payment Solutions at Kindred Group.
“We are looking forward to extending this partnership further as we continue to improve our player experience for all of our brands internationally,” Marceau added.
Nuvei President Yuval Ziv commented: “Offering iGaming operators optimized conversion rates to accelerate growth and maximize revenues, as well as unparalleled experiences for players, is how Nuvei has developed its reputation as the leading payments partner in the iGaming industry. Kindred operates some of the most recognizable brands in European iGaming so we’re proud to be supporting its growth across Europe.”
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow’s payment platform. Designed to accelerate customers’ business, Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 570 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com.
Contact:
Investor Relations
Public Relations
About Kindred Group
Kindred Group is one of the world’s leading online gambling operators with business across Europe, US and Australia, offering over 30 million customers across 9 brands a great form of entertainment in a safe, fair and sustainable environment. The company, which employs more than 2,000 people, is listed on Nasdaq Stockholm Large Cap and is a member of the European Gaming and Betting Association (EGBA) and founding member of IBIA, International Betting Integrity Association. Kindred Group is audited and certified by eCOGRA for compliance with the 2014 EU Recommendation on Consumer Protection and Responsible Gambling (2014/478/EU). Read more on www.kindredgroup.com.
Nuvei releases inaugural Environmental, Social and Governance Report
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Nuvei Releases Inaugural Environmental, Social and Governance Report
Nuvei Releases Inaugural Environmental, Social and Governance Report
MONTREAL, Aug. 25, 2022 (GLOBE NEWSWIRE) – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), tomorrow’s payment platform, announces the publication of its inaugural Environmental, Social, and Governance (“ESG”) report.
The report sets out Nuvei’s ongoing drive to build sustainable business practices to protect the environment, support the communities in which it operates and create value for employees, investors, and customers.
“Nuvei’s value creation story is simple: we only grow when our stakeholders thrive,” said Nuvei Chair and CEO Philip Fayer. “So, whether it is helping our customers accelerate their business, fostering an engaged and diverse workforce, supporting our local communities or achieving superior financial results for our shareholders, it is clear that embedding ESG into our operations benefits Nuvei and creates long-term value for all of our stakeholders.”
The report highlights Nuvei’s ESG commitment to sustainable and responsible business practices and disclosures, focusing on:
- Responsible Commerce: using our unique position to expand financial access, enhance transparency, support ethical transactions while at the same time building partnerships that promote responsible and ethical practices that help serve our communities.
- Human Capital Management: applying a human touch in supporting our team members in their professional development and fostering purposeful and meaningful work.
- Diversity, Equity and Inclusion: continuing to build and expand our multicultural and diverse workforce in ways that fit our purpose and represent our local and global reach.
- Data Privacy: prioritizing the protection and privacy of sensitive data and information for all stakeholders including our customers’, partners’ and team members’.
- Cybersecurity: continuously improving our security posture of detecting, preventing and responding to cybersecurity threats and implementing globally accepted best practices and standards.
- Environmental Stewardship: advancing our efforts to reduce the environmental impact of our business.
- Corporate Governance: ensuring integrity, accountability and transparency are foundational to our corporate governance program and are integral to how we conduct ourselves each and every day.
- Ethics and Compliance: upholding a high degree of ethics and maintaining robust risk management policies and procedures, to develop and deploy rigorous compliance programs.
“We know we are just getting started on our ESG journey and as Nuvei continues to grow, we recognize that we can make a real difference. So, on behalf of our colleagues around the world, I am proud of the steps we have taken so far. I am even more excited for what is still to come,” Fayer said.
The ESG report is available at https://nuvei.com/esg2021.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow’s payment platform. Designed to accelerate customers’ business, Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 570 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com.
Contact:
Investor Relations
Public Relations
Nuvei and GoldBet Build on Successful Partnership with Rollout of New APMs
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GoldBet players can now deposit into their gaming accounts or request withdrawals using more payment methods
GoldBet players can now deposit into their gaming accounts or request withdrawals using more payment methods
MONTREAL, July 14, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), tomorrow’s payment platform, announces today that it is extending its partnership with GoldBet, one of Italy’s premier sports betting, online casino, and poker platforms, to enable the operator to integrate new payment methods into its cashier, including Apple Pay.
Nuvei has been enabling GoldBet to offer an industry-leading player experience in Italy since 2020, via a single integration to its full stack payments solution. This includes a best-in-class, fully localized cashier and acquiring solutions to enhance acceptance rates, and alternative payment methods to grow its player base and maximize its revenue.
GoldBet players are able to use all the relevant payment methods they demand in the Italian market and this now includes Apple Pay as a new deposit option. GoldBet is one of the first operators in Italy to provide players with Apple Pay withdrawals in addition to deposits.
“We are thrilled to announce that we are extending our partnership with Nuvei to add more alternative payment methods into our online cashier,” said Alessandro Fiumara, GoldBet Managing Director Betting and Digital Italy.
“Being able to offer our players seamless deposits and withdrawals has been a critical factor in achieving our goal of having the best player experience in Italy. Since partnering with Nuvei our revenues have grown significantly and we’re excited to continue this journey together.”
Philip Fayer, Nuvei Chair and CEO, commented: “GoldBet is one of the leading gaming platforms in Italy because of its commitment to player experience. Frictionless deposits and withdrawals, superior card acceptance rates, and a wide choice of preferred payment methods are all key. That’s what Nuvei brings to the table for operators.
“We continue to deliver best-in-class payments services to the leading digital businesses across the globe. And we work with these businesses to deliver a customized solution that is specific to their individual needs. This is how payments makes the most significant impact on revenues and business growth.”
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow’s payment platform. Designed to accelerate customers’ business, Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 550 alternative payment methods, including cryptocurrencies, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com.
Contact:
Investor Relations
Public Relations
Arcadier selects Nuvei for marketplace payments
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Nuvei’s payment technology will support Arcadier’s global expansion while accelerating their merchants’ revenue
Nuvei’s payment technology will support Arcadier’s global expansion while accelerating their merchants’ revenue
MONTREAL and SINGAPORE, September 8, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), tomorrow’s payment platform, announces today it has been selected by Arcadier, a leading SaaS B2C and B2B marketplace platform.
As part of its global expansion drive, Asia-based Arcadier has selected Nuvei as its preferred payment partner in US, Latin America, Europe, the Middle East, and Africa.
Nuvei will customize and optimize payment flows, including managing pay-ins, payouts and commissions. Arcadier’s merchants will benefit from customizable reporting and reconciliation dashboards to track seller accounts, volumes, chargebacks, and transactions. With one click, Arcadier’s marketplace sellers can add more than 570 alternative payment methods into their check-out flows and immediately start selling online to local customers.
Arcadier’s extensive portfolio of merchants will also use Nuvei’s fast and frictionless onboarding and API capabilities, conversion optimization technology, and built-in smart routing, tokenization, streamlined know-your-customer (KYC) and know-your business (KYB) processes, all with one single integration.
“Flexibility is power, so sophisticated engineering is at the heart of our platform’s success, Nuvei’s payment solution has allowed us to give our customers access to innovative payment technology that adapts to the needs of every marketplace,” said Arcadier Chief Commercial Officer Gary Ramsell.
“An API-based approach to our marketplace platform allows merchants to flex and adapt. This agility is important as we work with a global network of certified development partners, like Nuvei, to customise any solution,” added Ramsell.
Commenting on the partnership, Nuvei President Yuval Ziv said: “Arcadier is a forward-focused technology company at the forefront of the latest marketplace trends. At Nuvei, we are trusted for our local and global payment solutions that are designed specifically to relieve merchants of the complexities inherent to multi-channel payments. We’re delighted to support Acadier’s push into new markets.”
Marketplaces have emerged to dominate the eCommerce space and the opportunities for businesses are growing. Within retail eCommerce sales, marketplaces now have a leading position over traditional direct web sales, accounting for 57% of global retail sales*. Multi-vendor marketplace platforms enable merchants to set up portals featuring their unique inventories in a trusted location that draws together thousands of merchants.
Arcadier is paving the way for merchants to monetize this consumer behavior shift. Through the partnership with Nuvei, Arcadier’s merchants will experience quick and simple approval processes to get their eCommerce offerings up and running.
*Source: Entering the Marketplace Era | Nuvei
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow’s payment platform. Designed to accelerate customers’ business, Nuvei’s modular, flexible, and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk, and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 570 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com.
Contact:
Investor Relations
Public Relations
About Arcadier
We strive to continue being a forward-focused technology company that increases access to marketplaces and generates a future-view of managed marketplaces offering front-end, backend, maintenance & support for all operational aspects of marketplaces.
We aim to enable all enterprises to grow their businesses and brands using the World’s most powerful and flexible marketplace platform.
Nuvei enters new partnership with Air Transat
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Nuvei delivers single integration global payment acceptance for the Canadian airline
Nuvei delivers single integration global payment acceptance for the Canadian airline
MONTREAL, September 6, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), tomorrow’s payment platform, announces today that it has partnered with Air Transat. The partnership offers Air Transat customers a frictionless and intuitive payment experience while providing revenue accelerating approval rate optimization and fraud management capability to the airline.
Based in Montreal, Air Transat is Canada’s third largest airline with hubs in Toronto and Montreal. The company offers domestic and connecting flights between Europe, the Caribbean, Mexico, the US and Central America. The company is a four times winner of ‘the world’s best leisure airline’ in the Skytrax World Airlines Awards.
Through its partnership with Nuvei, Air Transat has secured card acquiring capabilities with enhanced payment processing in 39 markets globally. This number is expected to grow as the partnership progresses with the addition of more payment options and upcoming support planned.
Commenting on the collaboration, Annick Guérard, President and CEO at Air Transat, said: “We believe our relationship with Nuvei goes far beyond that of a typical payment service provider. From the beginning of our engagement, the Nuvei team has shown deep knowledge of payments and the airline sector, as well as a desire to understand our challenges and help us find solutions to them.”
“By choosing to partner with Nuvei, we are not only expanding the payment options we can offer to our travellers, but also improving the management of our working capital. Both can have a direct positive impact on our business,” Guérard added.
Nuvei Chair and CEO Philip Fayer said: “We are seeing, time and time again that payments, when done right, are a formidable revenue accelerator for our customers, whether that’s through payment orchestration, customized solutions or offering the payment method consumers want.”
“We’re happy to work with Air Transat, a fellow global organization with a shared Canadian heritage, as we help them evolve and expand their payment capabilities internationally,” Fayer added.
This partnership further solidifies Nuvei as the payment partner of choice for the global travel and airline industry. It shows the company’s steadfast commitment to supporting businesses with unparalleled global payments coverage amid the return of global travel following turbulent years.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow’s payment platform. Designed to accelerate customers’ business, Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in the more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 570 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com.
Contact:
Investor Relations: IR@nuvei.com
Public Relations: alexandra.bucur@nuvei.com
About Transat
Founded in Montreal 35 years ago, Transat has achieved worldwide recognition as a travel provider particularly as a leisure airline under the Air Transat brand. Voted 4 times since 2017 World’s Best Leisure Airline by passengers at the Skytrax World Airline Awards, it flies to international and Canadian destinations, striving to serve its customers with enthusiasm and friendliness at every stage of their trip or stay, and emphasizing safety throughout. Transat has been Travelife-certified since 2018, renewing its fleet with the greenest aircraft in their category as part of a commitment to a healthier environment, knowing that this is essential to its operations and the magnificent destinations it serves (TSX: TRZ).
For more information, visit www.transat.com
Contact:
Media Relations Air Transat: christophe.hennebelle@transat.com
Eyas Gaming extends its partnership with Nuvei
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Nuvei is enabling Eyas to accept all relevant payment methods across its entire UK brand portfolio, including carrier billing
Nuvei is enabling Eyas to accept all relevant payment methods across its entire UK brand portfolio, including carrier billing
MONTREAL and MALTA, July 21, 2022- Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), tomorrow’s payment platform, announces today it is extending its partnership with online gaming business Eyas Gaming, to provide the operator with a full payment solution across all its iGaming brands. Nuvei has also partnered with UK-based direct carrier billing provider Fonix to enable Eyas Gaming players to bill deposits directly to their mobile.
Building on a successful partnership that launched in October 2021, Nuvei is now enabling Eyas Gaming to accept payments via its industry-leading cashier technology across its popular gaming brands including the Merkur Slots and Merkur Casino in the UK.
Players can deposit and request payouts using all the relevant payment methods through the Nuvei cashier, including card payments and alternative payment methods (APMs) such as digital wallets and direct bank transfer. Fonix’s seamless integration with Nuvei has easily enabled Merkur Slots and Merkur Casino to easily switch on the payment method.
Commenting on the announcement, Eyas Gaming Head of Fraud, Risk and Payments Andrejs Cuzans said: “We’re excited to be extending our partnership with Nuvei for all our brands across the Eyas portfolio. Nuvei’s rich global heritage and deep knowledge of the gaming industry, as well as the best-in-class technology and access to all APMs through a single integration, made it an easy decision to engage them as our payments partner.”
Philip Fayer, CEO & Chair of Nuvei commented: “Nuvei continues to demonstrate why we are the market leader for payments in iGaming through our partnerships with many of the most exciting operators in the industry. We’re looking forward to continuing to support Eyas Gaming and its growth into new markets in the coming years.”
Fonix CEO Rob Weisz added: “Fonix is focused on facilitating conversion and expansion for partners through our carrier billing technology. Integrating Fonix’s carrier billing solution means Nuvei can allow Eyas Gaming to turn on carrier billing with the flick of a switch. We’re excited to launch our partnership to offer carrier billing to Eyas Gaming’s players across the UK, with a future vision to make an impact across Germany too.”
The announcement is the latest from Nuvei as it continues to solidify its position as the payment technology partner of choice for fantasy sports, gaming and sports betting brands in regulated markets across the globe.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow’s payment platform. Designed to accelerate customers’ business, Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 550 alternative payment methods, including cryptocurrencies, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com
Contact:
Investor Relations
Public Relations
About Eyas Gaming
Eyas, an operator in the online gaming industry, was founded in 2020 by three industry veterans. Eyas is currently live in the UK market, offering casino to customers. Eyas has two offices, one in Malta and one in Gibraltar, two of the gaming hotspots in Europe. Eyas is a fully rounded team comprising of IT Development, Marketing and Customer Operations. Eyas has built a data led approach to all the key elements of the business.
For more information visit www.eyasgaming.com
International Clothing Retailer Hatley Selects Nuvei for Omnichannel Payments
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New collaboration spans in-store card payments, B2B and eCommerce payment processing for major retailers in US and Canada and payment processing in Europe
New collaboration spans in-store card payments, B2B and eCommerce payment processing for major retailers in US and Canada and payment processing in Europe
MONTREAL, JULY 12, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), tomorrow’s payment platform, announces today that international clothing retailer Hatley is using Nuvei to streamline and enhance their payment offerings to benefit their consumer and business clients globally.
The Montreal-based retailer is working with Nuvei to handle its in-store card payments across more than 40 retail outlets in North America, manage its business-to-business (B2B) and eCommerce payment processing for major retailers in Canada and the US and run its payment processing needs for online sales in Europe.
Hatley is renowned for its PVC-free raingear and children’s colorful clothing made from natural products with designs often inspired by scenes of nature from the Canadian countryside. The growing international business now maintains 3,200 points-of-sale worldwide, with key retail business partners including Costco, Nordstrom, Canadian luxury goods department store chain Hudson’s Bay, John Lewis and Next in the UK and Australia’s David Jones.
Nuvei omnichannel payments enables clients to have one partner enhancing their customers’ cross-channel purchasing experience wherever they are with a single platform that centralizes payment management whether it is in-store, in-app, on mobile or online. Global acquiring, dynamic currency conversions, smart transaction routing and foreign exchange solutions are part of Nuvei’s omnichannel payments offering for clients like Hatley.
“Simplifying and scaling our approach in North America and our international markets with a seamless omnichannel payments experience is really important to us. It’s a part of our broader approach as we strive every day to innovate all aspects of our business to support both the major retailers we work with and customers who come to us direct either in store or digitally,” said Hatley CEO Jeremy Oldland.
“Working with Nuvei has given us payment solutions and digital payment experts that help us accelerate our business at every level in our home and neighbouring markets and new countries we are introducing Hatley to,” added Oldland, who runs the family business, alongside his brothers Nick and Chris.
Commenting on the collaboration, Nuvei Chair and CEO Philip Fayer said: “Hatley has established itself as a major clothing retailer serving businesses and consumers around the world. As a global business with a Canadian heritage ourselves, we are proud and honoured to be supporting such an ambitious and respected retailer as it expands at home and abroad and we look forward to supporting them with our omnichannel payments technology and payment experts on their journey.”
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow’s payment platform. Designed to accelerate customers’ business, Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 550 alternative payment methods, including cryptocurrencies, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com.
Contact:
Investor Relations
IR@nuvei.com
Public Relations
pr@nuvei.com
Nuvei and GAN Launch Strategic Partnership for the North American Gaming Industry
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Operators Can Integrate Nuvei’s Suite of Payment Solutions Through GAN’s Market-Leading Platform Technology
Operators Can Integrate Nuvei’s Suite of Payment Solutions Through GAN’s Market-Leading Platform Technology
MONTREAL and IRVINE, CA, July 7, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), tomorrow’s payments platform, and GAN Limited (NASDAQ: GAN) (the “Company” or “GAN”) announce today they have entered a strategic partnership enabling gaming operators to access Nuvei’s full suite of payments solutions through an integration with GAN’s software-as-a-service gaming platform technology.
The partnership commenced following the launch of the regulated gaming market in Ontario earlier this year and is now being extended to support operators across the U.S. and Canada. Nuvei technology is integrated seamlessly into GAN software, and thanks to this partnership, players can instantly deposit and request instant payouts using its industry-leading cashier technology. This includes multiple regional and alternative payment methods in addition to cards, such as Interac and digital wallets.
Don Ryan, President of Enterprise Solutions for GAN, commented on the announcement: “We’re pleased to be partnering with Nuvei to bring such an exciting solution to the North American gaming industry. GAN and Nuvei have strong reputations for delivering best-in-class solutions for operators. This strategic partnership takes our combined proposition to the next level.”
Philip Fayer, CEO & Chair of Nuvei, added: “Offering gaming operators a fully customizable payments platform, including local acquiring solutions and a full suite of payment methods through a single integration, is at the heart of our vision for the future of payments in both gaming and broader verticals.
“Being able to partner with GAN to bring this vision to North American operators is a great step forward for an industry poised for further significant growth in the next few years. GAN is renowned throughout gaming for its market-leading software, which is why we believe this is such an exciting partnership.”
The announcement is the latest from Nuvei as it continues to solidify its position as the payment technology partner of choice for gaming, fantasy sports, and sports betting brands in regulated markets across the globe.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow’s payment platform. Designed to accelerate customers’ business, Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 550 alternative payment methods, including cryptocurrencies, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com
Contact:
Investor Relations
Public Relations
About GAN
GAN is a leading business-to-business supplier of internet gaming software-as-a-service solutions predominantly to the U.S. land-based casino industry. Coolbet, a division of GAN, is a market-leading operator of proprietary online sports betting technology with market leadership positions in select European and Latin American markets. GAN has developed a proprietary internet gaming enterprise software system, GameSTACK™, which it licenses to land-based casino operators as a turnkey technology solution for regulated real money internet gaming, encompassing internet gaming, internet sports gaming, and virtual Simulated Gaming. Additional information about GAN can be found online at www.GAN.com.
Investor Contacts:
GAN
Robert Shore
Vice President, IR and Capital Markets
(610) 812-3519
Alpha IR Group
Ryan Coleman or Davis Snyder
(312) 445-2870
Nuvei to Support Betsson in its Online Sportsbook Launch in the U.S.
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Betsafe Joins Many of The Leading U.S. Sportsbooks in Offering Instant Deposits and Payouts via Nuvei Instant Bank Transfer
Betsafe Joins Many of The Leading U.S. Sportsbooks in Offering Instant Deposits and Payouts via Nuvei Instant Bank Transfer
MONTREAL, May 19 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), tomorrow’s payment platform, announces today that it has partnered with Swedish-based online gaming operator Betsson Group to enable instant deposits and withdrawals on its proprietary online sportsbook in Colorado, in the U.S. which it launched under the brand name, Betsafe.
Through its Instant Bank Transfer product, Nuvei is enabling players on the Betsafe online sportsbook to instantly deposit into their gaming accounts directly from their bank account. Players will also benefit from instant withdrawals, which enable them to receive their winnings straight into their bank account in real-time, 24/7. Nuvei Instant Bank Transfer’s industry-leading player experience also tokenizes players’ financial details when a first transaction is completed, meaning players are able to deposit or request a payout via a ‘single click’ payment method.
With this announcement, Nuvei continues to expand its portfolio of partners in the U.S. iGaming market in what has been a strong start to the year for the business. Betsson joins other notable North American operators including DraftKings, FanDuel, and BetMGM in selecting Nuvei to deliver an industry-leading payments experience.
“We’re committed to offering our players the best gaming experience in the market and payments plays a critical role in delivering that vision,” said Betsson’s Managing Director for the U.S., Marina Bogard. “Integrating Nuvei Instant Bank Transfer into our checkout not only gives our players more choice as to their preferred deposit method, it also enables them to request payouts in real-time which we know they demand.”
Philip Fayer, Nuvei’s Chair and CEO, said: “Betsson has a global reputation as a leader in the gaming industry, which is why we are excited to be supporting them as they grow their presence following a successful launch in the U.S. market.
“Instant, convenient, deposits and real-time payouts are absolutely essential to meet U.S. players’ demands of their sports betting platforms. This is why Nuvei continues to be the market leader for payments in North American iGaming. Already in 2022 we have partnered with some of the most significant operators in the exciting U.S. gaming landscape as it develops at pace, and Betsson certainly falls into that category.”
Nuvei continues to demonstrate why it is the global leader for payments in the gaming industry. As well as Instant Bank Transfer in the U.S., Nuvei enables gaming operators to accept over 550 local and alternative payment methods in addition to local acquiring and smart routing for card acceptance.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow’s payment platform. Designed to accelerate customers’ business, Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 550 alternative payment methods, including cryptocurrencies, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com
Contact:
Investor Relations
IR@nuvei.com
Public Relations
alex.hammond@nuvei.com
About Betsson Group
With 20 brands, including Betsafe, Betsson, NordicBet and CasinoEuro, offering Sportsbook, Casino, and other games, Betsson Group is one of the world’s largest gaming groups, at the heart of entertainment for close to six decades. The company’s vision is to provide the best customer experience in the industry – listening to, and learning from, its customers, and then exceeding their expectations. Betsson Group is wholly owned by Betsson AB – listed on Nasdaq Stockholm.For more information, visit www.betssongroup.com
Scott Dunn Selects Nuvei as Global Payments Provider
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Nuvei will provide the award-winning exclusive travel operator with a holistic global payment solution
Nuvei will provide the award-winning exclusive travel operator with a holistic global payment solution
MONTREAL and LONDON, May 26, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), tomorrow’s payment platform, announces today its partnership with luxury tour operator, Scott Dunn. Nuvei will provide the award-winning exclusive travel operator with a holistic global payment solution, including payments orchestration and smart routing.
Travel is set to make a strong comeback post pandemic and Statista’s Digital Market Outlook report predicts revenue in the Travel & Tourism market to reach US $637bn in 2022.
“The entire digital travel experience should be seamless from the moment a holiday is booked to getting to your destination. Payments are an integral part of that for both holidaymakers and businesses as global travel revenues grow,” said Scott Dunn’s Chief Financial Officer Mark Woodall. “The Nuvei team’s extensive knowledge of our industry, coupled with a strong product stack and global reach, were instrumental in our selection process. With Nuvei as our payment provider, we are well positioned to grow further in key markets globally.”
Commenting on the partnership, Nuvei Chair and CEO Phil Fayer, said: “As a business that believes in exceptional experience, innovation and service, we’re delighted to partner with Scott Dunn.”
“Our global acquiring and payments gateway solutions offer scalability; while our smart routing engine will help define, configure and manage transactional routing in real time. Partnering with Scott Dunn will further position Nuvei as the payments partner of choice for the travel and mobility industry,” Fayer said.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow’s payment platform. Designed to accelerate customers’ business, Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 550 alternative payment methods, including cryptocurrencies, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com.
Contact:
Investor Relations
IR@nuvei.com
Public Relations
alexandra.bucur@nuvei.com
About Scott Dunn
Scott Dunn is one of the world’s most experienced luxury tour operators. With offices in the UK, the US and Asia, its global team of travel specialists offer guests round-the-clock support, arranging bespoke holidays and honeymoons designed to elevate travel out of the ordinary. With an insatiable appetite to discover the world pivotal to the company’s ethos, Scott Dunn relish the planning and revel in the detail – knowing it’s the smallest touches that make the biggest difference. As well as creating tailor-made itineraries filled with unique experiences, Scott Dunn also operate their Explorers Kids Clubs for children aged 4 months to 11 years in select destinations throughout the world. The tour operator launched an exclusive, ‘invitation-only’ platform for its most discerning travellers, Scott Dunn Private, at the start of 2021.
Nuvei Launches Groundbreaking Machine Learning Solution to Boost Risk Management
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Businesses Offering Instant Bank Transfer To Benefit From Enhanced Protection Against Fraudulent Transactions
Businesses Offering Instant Bank Transfer To Benefit From Enhanced Protection Against Fraudulent Transactions
MONTREAL, June 16 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), tomorrow’s payment platform, announces today the launch of a new risk management model underpinned by cutting-edge machine learning technology for its Instant Bank Transfer product in North America.
A pioneering algorithm has been integrated into a new risk engine for the extremely popular account-to-account payment method. Factors such as account age, transaction value, and balance usage will be analyzed by the engine to determine the risk level that a transaction is fraudulent and augment existing levels of security. There will be no impact on consumer experience or businesses’ existing single integration with Nuvei.
The machine learning model extracts complex patterns to improve the identification of fraudulent activity and reduce false positives where legitimate transactions are declined. Benefits of processing vast amounts of data with no latency in this way include:
- Improved customer retention as legitimate consumers are less likely to have their transactions declined
- Higher acquisition as the model makes smarter decisions on accepting payments from new customers
- Reduced risk and higher confidence when transactions are accepted or rejected
- Lower costs as financial penalties associated with fraudulent activity are minimized
By using this decision engine merchants will see improvements as high as 30% in detection of fraudulent transactions, including friendly fraud, from the launch day. Nuvei expects this score to keep improving as the model has been designed to auto-improve its ability to identify bad actors as it processes more data and identifies deeper relationships.
Nuvei Chair and CEO Philip Fayer commented on the announcement: “We’re really excited to bring this new solution to our merchants to help accelerate their business. We continue to invest in our AI and data management. We are constantly innovating our products to develop features that reduce fraud and maximize revenue for our customers through customized solutions that meet their exact needs. This is only the beginning and we can’t wait to announce other game-changing innovations in the near future.”
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow’s payment platform. Designed to accelerate customers’ business, Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 550 alternative payment methods, including cryptocurrencies, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com
Canadian Food Tech Pioneer WeCook Selects Nuvei as Payments Provider Amid Hyper-Growth Drive
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Nuvei’s advanced payment platform will further accelerate WeCook's growth by providing seamless B2B and B2C transactions
Nuvei’s advanced payment platform will further accelerate WeCook's growth by providing seamless B2B and B2C transactions
MONTREAL, JULY 6, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), tomorrow’s payment platform, announces today that it has partnered with fast-growing ready-to-eat meal delivery platform WeCook as it expands across Canada. WeCook is using Nuvei’s payment technology platform and payment experts’ support to run both its business-to-business and direct-to-consumer payment processing needs.
As a pioneer in the meal subscriptions market, Montreal-based WeCook delivered more than four million meals throughout Quebec and Ontario last year and it is set on becoming a nationwide direct-to-door meals provider by 2023. In May 2022, WeCook announced it had secured CAD$40 million in a strategic equity investment as part of plans to help accelerate its growth across Canada. The Canadian food delivery market, combined with eCommerce, is growing at an accelerated pace, and was estimated to be worth over $5 billion in 2021.
WeCook Meals stands out for its unique offering of fresh, ready-to-eat meals that meet the needs of busy Canadians who want to eat a healthy, balanced diet, but don’t have time to cook. It has grown rapidly since being set up in 2013 before a shift to focus on the mass market in 2020.
“As a pioneer in the meal prep subscription market, WeCook has always been rooted in innovation,” said WeCook Co-Founder Jonathan Roy. “Partnering with a like-minded Canadian technology business like Nuvei is a recipe for success as we expand into new provinces. Their extensive payment solutions, scalability, stability, and best-in-class support will provide great value to the demands of our growing business.”
As part of the collaboration, WeCook benefits from Nuvei’s flexible recurring payment service that boosts customer retention and increases conversion with smart routing and cascading tools, auto account updating, and multiple, concurrent subscriptions.
“WeCook has quickly established itself as a leader in ready-to-eat meal delivery in Canada,” said Nuvei Chair and CEO Philip Fayer. “As a fast-growing business with a Canadian heritage ourselves working with brands around the world, we are proud to support another fast-growing technology company as it expands its footprint into new markets.”
About WeCook Meals
WeCook Meals was founded in 2013 by two young entrepreneurs who wanted to spend less time in the kitchen, without compromising on a high-quality, nutritious diet. Meals are curated by an in-house chef, using only freshest ingredients sourced from local suppliers. Demand for WeCook’s ready-made meals have increased 300% and the Montreal-based company has successfully created 600 new jobs. The Montreal-based company currently has two production facilities delivering more than 4 million meals a year throughout Ontario and Quebec.
For more information, visit https://www.wecookmeals.ca/
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow’s payment platform. Designed to accelerate customers’ business, Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 550 alternative payment methods, including cryptocurrencies, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com.
Contact:
Investor Relations
Public Relations
Hard Rock Sportsbook Launches Instant Deposits and Payouts with Nuvei
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Players Are Now Able to Fund Their Hard Rock Sportsbook Accounts Seamlessly with Nuvei Instant Bank Transfer
Players Are Now Able to Fund Their Hard Rock Sportsbook Accounts Seamlessly with Nuvei Instant Bank Transfer
MONTREAL and HOLLYWOOD, FL, May 17 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), tomorrow’s payment platform, announces today that it has partnered with Hard Rock Digital to provide payments services for its Hard Rock Sportsbook mobile app.
Players in Arizona, Virginia and states with upcoming launches of the all-new Hard Rock Sportsbook platform will be able to instantly deposit funds to their gaming wallet from their bank account using Nuvei’s Instant Bank Transfer technology. Players can also withdraw funds directly to their bank account in real-time 24/7 thanks to Nuvei’s integration with The Clearing House’s Real Time Payments network.
With Nuvei Instant Bank Transfer, players receive their funds into their account easily and quicker than any other deposit method. And industry research confirms that payout times are one of the most important factors players consider when comparing operators, and that players are now not prepared to wait 24 hours or longer for their winnings to be accessible. Hard Rock Sportsbook customers can now receive payouts safely and immediately to their bank accounts thanks to Nuvei’s Instant Withdrawals through the RTP network.
“Hard Rock Sportsbook is building the best product in the market with an engaging, entertaining and frictionless experience for the sports betting player and being able to provide instant access to funds is fundamental,” said Matt Primeaux, Executive Managing Director and President of Hard Rock Digital. “We’re excited to continue to roll out the all-new Hard Rock Sportsbook app to more states across the country and Nuvei’s technology and partnership is essential to creating our industry-best player experience.”
“We know players want to be able to deposit and access funds from their gaming account immediately when they request a withdrawal, which is why we were first to market last year offering players instant payouts via the Real Time Payments network,” said Nuvei Chair and CEO Philip Fayer. “Enabling Hard Rock Sportsbook to offer instant deposits and payouts is just another example of why Nuvei is the leading payments technology partner for the iGaming industry in the U.S.”
The Real Time Payments network is currently accessible to financial institutions that hold 75% of U.S. demand deposit accounts (DDAs). The network currently reaches 61% of U.S. DDAs.
Currently 70% of instant bank transfer payouts processed by Nuvei are executed via an instant payment on the RTP network. This figure is purely limited by the players’ bank accounts not being connected to the RTP network and any payout requests that cannot be processed through the RTP network are automatically re-routed through the traditional Automated Clearing House (ACH) system as a fall-back option.
The announcement is the latest from Nuvei as it continues to solidify its position as the payment technology partner of choice for fantasy sports, gaming and sports betting brands across the U.S., in approved and regulated states.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow’s payment platform. Designed to accelerate customers’ business, Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 550 alternative payment methods, including cryptocurrencies, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com.
Contact:
Investor Relations
IR@nuvei.com
Public Relations
Alex.Hammond@nuvei.com
About Hard Rock Digital
Hard Rock Digital is the exclusive Hard Rock International and Seminole Gaming vehicle for interactive gaming and sports betting on a global basis. Known the world over for its famous cafes, casinos, hotels, and music memorabilia collection, Hard Rock’s legendary hospitality and entertainment serves as our foundation as we build the future of sports betting and internet gaming. Headquartered in Hollywood, Florida, and with offices in Austin, Texas, Hard Rock Digital is dedicated to creating the best place to play for sports fans and mobile gamers everywhere.
For news, visit HardRockDigital.com or follow @HardRockDigital on Twitter.
Contact:
jon.chapper@hardrockdigital.com
Nuvei Announces First Quarter 2022 Results
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Nuvei Corporation (Nasdaq: NVEI) (TSX: NVEI), today reported its financial results for the three months ended March 31, 2022
Nuvei Corporation (Nasdaq: NVEI) (TSX: NVEI), today reported its financial results for the three months ended March 31, 2022
Nuvei reports in U.S. dollars and in accordance with International Financial Reporting Standards (“IFRS”)
MONTREAL, May 10, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), tomorrow’s payment platform, today reported its financial results for the three months ended March 31, 2022.
“We had a strong start to the year, with financial results that exceeded our financial outlook for the quarter,” said Philip Fayer, Nuvei’s Chair and CEO. “Total volume(1), revenue, and Adjusted EBITDA(2) grew 42%, 43%, and 40%, respectively over the first quarter of 2021, as we continued advancing our strategic initiatives. It was an excellent quarter despite revenue headwind of $7 million from unfavorable changes in foreign exchange rates year-over year. The prospects for our business are strong and we are very well-positioned for sustainable and profitable growth. We remain intently focused on our key priorities and reiterate both our financial outlook for 2022 and our medium and long-term targets.”
Financial Highlights for the Three Months Ended March 31, 2022
- Total volume(1) increased 42% to $29.2 billion from $20.6 billion
- eCommerce represented 88% of total volume
- Revenue increased 43% to $214.5 million from $150.5 million
- The increase was impacted unfavorably by changes in foreign exchange rates year-over-year of approximately $7 million
- Organic revenue growth(2) was 32% with Organic revenue(2) increasing to $198.0 million from $150.5 million
- Net income decreased by $23.3 million to $4.5 million compared to net income of $27.8 million, primarily due to a $33.1 million increase in share-based payments to employees who joined the Company as part of acquisitions completed in 2021 and other employee incentive grants
- Adjusted EBITDA(2) increased 40% to $91.6 million from $65.5 million
- Adjusted net income(2) increased 35% to $69.1 million from $51.2 million
- Net income per diluted share was $0.02 compared to net income per diluted share of $0.19
- Adjusted net income(2) per diluted share was $0.46 compared to $0.35
- Cash flow from operating activities increased by 23% to $65.7 million from $53.4 million
- Free cash flow(2) increased by 36% to $82.5 million from $60.7 million
- Cash balance of $735.0 million at March 31, 2022 compared to $748.6 million at December 31, 2021, mainly due to the repurchase and cancellation of approximately 1.2 million Subordinate Voting Shares for total consideration, including transaction costs, of $74.8 million.
Operational Highlights
- Revenue for the first quarter of 2022 increased 73% to $124.6 million in Europe, the Middle East and Africa (“EMEA”), increased 13% to $80.7 million in North America, increased 25% to $6.4 million in Latin America (“LATAM”), and increased 64% to $2.9 million in Asia Pacific (APAC). North America eCommerce direct revenue increased 71% to $27 million in this year’s first quarter from last year’s first quarter, representing approximately a third of total North America revenue.
- Nuvei added multiple new alternative payment methods (“APMs”) increasing the Company’s portfolio of APMs to more than 550 at the end of the first quarter, expanding access and allowing its customers to accept more forms of regionally familiar and preferred digital payment method
- Nuvei added new customers across its target high-growth verticals and regions with notable wins including: FanDuel, The Score, NorthStar Gaming, Hard Rock, Desert Diamond Casino, Selina, Scott Dunn, Despegar, Didatravel, Cabify, Aircash, Cellbrite, WIX, SHEIN, The Hut Group (THG), Eneba, Davivienda, Crypto.com and Pionex. The Company also expanded wallet share with existing customers including: BetMGM, 888, DraftKings, LeoVegas, Entain, Kaizen Gaming, Betsson, Wplay, El Al, lastminute.com, Rappi, Yoox (Net-a-Porter), Valentino, Hatley, Wargaming, and VALVe.
- Nuvei expanded its digital assets and cryptocurrency solutions in North America with localized payment acceptance and payouts functionality providing liquidity, risk management, know-your-customer, risk scoring and zero chargeback guarantee capabilities. The Company supported 136 coins and 97 fiat currencies as at March 31, 2022.
- The Company added 100 new employees in the first quarter of 2022, ending with 1,468 employees at March 31, 2022 compared with 1,368 employees at December 31, 2021.
- The Company expanded its Board of Directors to six members with the appointment of financial services and technology veteran, Samir Zabaneh, as an additional independent director.
- Nuvei purchased and canceled 1,208,766 Subordinate Voting Shares (“Shares”) for a total consideration, including transaction costs of $74.8 million in the first quarter at an average price of $61.82 per share in connection with its previously announced NCIB allowing it to purchase up to 6,617,416 of its Shares. From April 1 to April 30, 2022, the Company purchased an additional 359,983 Shares at an average price of $67.03 for a total consideration of $24.1 million. In total, the Company has purchased and canceled 1,568,749 shares for $98.9 million at an average price of $63.04 through April 30, 2022.
- Nuvei completed its distinctive brand refresh ahead of launching its largest-ever marketing campaign (started in May 2022) designed to build greater brand recognition and awareness, and drive new business.
Financial Outlook(3)
For the three months ending June 30, 2022 and the fiscal year ending December 31, 2022, Nuvei anticipates Total volume(1), Revenue and Adjusted EBITDA(2) to be in the ranges below. The updated financial outlook and specifically the Adjusted EBITDA(2) reflects the Company’s strategy to accelerate its investment in distribution, marketing, innovation, and technology.
The financial outlook is fully qualified and based on a number of assumptions and subject to a number of risks described under the heading “Forward-Looking Information” of this press release. Nuvei’s outlook also constitutes “financial outlook” within the meaning of applicable securities laws and is provided for the purposes of assisting the reader in understanding the Company’s financial performance and measuring progress toward management’s objectives and the reader is cautioned that it may not be appropriate for other purposes.
Growth Targets(4)
Nuvei’s medium-term(5) annual growth targets for Total volume(1) and revenue, as well as its long-term target for Adjusted EBITDA margin(2), are shown in the table below. These medium(5) and long-term(5) targets should not be considered as projections, forecasts or expected results but rather goals that we seek to achieve from the execution of our strategy over time, through geographic expansion, product innovation, growing wallet share with existing customers and new customer wins.
(1) Total volume does not represent revenue earned by the Company, but rather the total dollar value of transactions processed by merchants under contractual agreement with the Company. See “Supplementary Financial Measures” below.
(2) Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income, Adjusted net income per diluted share and Free cash flow are non-IFRS measures. See “Non-IFRS and Other Financial Measures”.
(3) Other than with respect to revenue, the Company only provides guidance on a non-IFRS basis. The Company does not provide a reconciliation of forward-looking Adjusted EBITDA (non-IFRS) to net income (loss) due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. In periods where significant acquisitions or divestitures are not expected, the Company believes it might have a basis for forecasting the IFRS equivalent for certain costs, such as employee benefits, commissions and depreciation and amortization. However, because other deductions such as share-based payments, net finance costs, gain (loss) on financial instruments carried at fair market value and current and deferred income taxes used to calculate projected net income (loss) can vary significantly based on actual events, the Company is not able to forecast on an IFRS basis with reasonable certainty all deductions needed in order to provide an IFRS calculation of projected net income (loss). The amount of these deductions may be material and, therefore, could result in projected IFRS net income (loss) being materially less than projected Adjusted EBITDA (non-IFRS). These statements represent forward-looking information and may represent a financial outlook, and actual results may vary. See the risk and assumptions described under the heading “Forward-looking information” of this press release.
(4) These growth targets are fully qualified and based on a number of assumptions and subject to a number of risks as described under the heading “Forward-looking Information” of this press release. These growth targets serve as guideposts as we execute on our strategic priorities, and they assume a normal business environment, continuing momentum and performance of the Company’s core business and favorable tailwinds of the verticals it serves. We will review and revise these growth targets as economic, market and regulatory environments change.
(5) “Medium-term” and “long term” have not been defined by Nuvei nor does Nuvei intend to define them. These targets should not be considered as projections, forecasts or expected results but rather goals that we seek to achieve from the execution of our strategy over time. These growth targets are fully qualified and based on a number of assumptions and subject to a number of risks described under the heading “Forward-Looking Information” of this press release. These targets are provided for the purposes of assisting the reader in understanding the Company’s financial performance and measuring progress toward management’s objectives and the reader is cautioned that they may not be appropriate for other purposes.
Conference Call Information
Nuvei will host a conference call to discuss its first quarter 2022 financial results today, Tuesday, May 10, 2022 at 8:30 am ET. Hosting the call will be Philip Fayer, Chair and CEO, and David Schwartz, CFO.
The conference call will be webcast live from the Company’s investor relations website at https://investors.nuvei.com under the “Events & Presentations” section. A replay will be available on the investor relations website following the call.
The conference call can also be accessed live over the phone by dialing 877-425-9470 (US/Canada toll-free), or 201-389-0878 (international). A replay will be available one hour after the call and can be accessed by dialing 844-512-2921 (US/Canada toll-free), or 412-317-6671 (international); the conference ID is 13729013. The replay will be available through Tuesday, May 24, 2022.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow’s payment platform. Designed to accelerate customers’ business, Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 550 alternative payment methods, including cryptocurrencies, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com
Non-IFRS and Other Financial Measures
Nuvei’s unaudited condensed interim consolidated financial statements have been prepared in accordance with IFRS as issued by the International Accounting Standards Board. The information presented in this press release includes non-IFRS financial measures, non-IFRS financial ratios and supplementary financial measures, namely Adjusted EBITDA, Adjusted EBITDA margin, Organic Revenue, Organic revenue growth, Adjusted net income, Adjusted net income per basic share, Adjusted net income per diluted share, Free cash flow, Total volume and eCommerce volume. These measures are not recognized measures under IFRS and do not have standardized meanings prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS measures by providing further understanding of our results of operations from our perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of the Company’s financial information reported under IFRS. These measures are used to provide investors with additional insight of our operating performance and thus highlight trends in Nuvei’s core business that may not otherwise be apparent when relying solely on IFRS measures. We also believe that securities analysts, investors and other interested parties frequently use these non-IFRS and other financial measures in the evaluation of issuers. We also use these measures in order to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts and to determine components of management compensation. We believe these measures are important additional measures of our performance, primarily because they and similar measures are used widely among others in the payment technology industry as a means of evaluating a company’s underlying operating performance.
Non-IFRS Financial Measures
Adjusted EBITDA: We use Adjusted EBITDA as a means to evaluate operating performance, by eliminating the impact of non-operational or non-cash items. Adjusted EBITDA is defined as net income (loss) before finance costs, finance income, depreciation and amortization, income tax expense, acquisition, integration and severance costs, share-based payments and related payroll taxes, loss (gain) on foreign currency exchange, and legal settlement and other.
Adjusted net income: We use Adjusted net income as an indicator of business performance and profitability with our current tax and capital structure. Adjusted net income is defined as net income (loss) before acquisition, integration and severance costs, share-based payments and related payroll taxes, loss (gain) on foreign currency exchange, amortization of acquisition-related intangible assets, and the related income tax expense or recovery for these items. Adjusted net income also excludes change in redemption value of liability-classified common and preferred shares, change in fair value of share repurchase liability and accelerated amortization of deferred transaction costs and legal settlement and other.
Free cash flow: We use Free cash flow as a supplementary indicator of our operating performance. Free cash flow means, for any period, Adjusted EBITDA less capital expenditures.
Non-IFRS Financial Ratios
Adjusted EBITDA margin: Adjusted EBITDA margin means Adjusted EBITDA divided by revenue.
Adjusted net income per basic share and per diluted share: We use Adjusted net income per basic share and per diluted share as an indicator of performance and profitability of our business on a per share basis. Adjusted net income per basic share and per diluted share means Adjusted net income less net income attributable to non-controlling interest divided by the basic and diluted weighted average number of common shares outstanding for the period. The number of share-based awards used in the diluted weighted average number of common shares outstanding in the Adjusted net income per diluted share calculation is determined using the treasury stock method as permitted under IFRS.
Supplementary Financial Measures
We monitor the following key performance indicators to help us evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions. Our key performance indicators may be calculated in a manner that differs from similar key performance indicators used by other companies.
Organic revenue: We use Organic revenue as a means of evaluating performance. This measure helps provide insight on organic and acquisition-related growth and presents useful information about comparable revenue growth. Organic revenue means revenue excluding the revenue attributable to acquired businesses for a period of 12-months following their acquisition and excluding revenue attributable to divested businesses.
Organic revenue growth: Organic revenue growth means the year-over-year change in Organic revenue divided by Organic revenue in the prior period. We use Organic revenue growth to assess revenue trends in our business on a comparable basis versus the prior year.
Total volume and eCommerce volume: We believe Total volume and eCommerce volume are indicators of performance of our business. Total volume and similar measures are used widely among others in the payments industry as a means of evaluating a company’s performance. We define Total volume as the total dollar value of transactions processed in the period by merchants under contractual agreement with us. eCommerce volume is the portion of Total volume for which the transaction did not occur at a physical location. Total volume and eCommerce volume do not represent revenue earned by us. Total volume includes acquiring volume, where we are in the flow of funds in the settlement transaction cycle, gateway/technology volume, where we provide our gateway/technology services but are not in the flow of funds in the settlement transaction cycle as well as the total dollar value of transactions processed relating to alternative payment methods and payouts. Since our revenue is primarily sales volume and transaction-based, generated from merchants’ daily sales and through various fees for value-added services provided to our merchants, fluctuations in Total volume will generally impact our revenue.
Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable securities laws, including Nuvei’s outlook on Total volume, Revenue and Adjusted EBITDA for the three months ending June 30, 2022 and the year ending December 31, 2022 as well as medium and long-term targets on Total volume, Revenue and Adjusted EBITDA margin. This forward-looking information is identified by the use of terms and phrases such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, or “continue”, the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking information contains these terms and phrases. Particularly, information regarding our expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate, expectations regarding industry trends and the size and growth rates of addressable markets, our business plans and growth strategies, addressable market opportunity for our solutions, expectations regarding growth and cross-selling opportunities and intention to capture an increasing share of addressable markets, the costs and success of our sales and marketing efforts, intentions to expand existing relationships, further penetrate verticals, enter new geographical markets, expand into and further increase penetration of international markets, intentions to selectively pursue and successfully integrate acquisitions, and expected acquisition outcomes and benefits, future investments in our business and anticipated capital expenditures, our intention to continuously innovate, differentiate and enhance our platform and solutions, expected pace of ongoing legislation of regulated activities and industries, our competitive strengths and competitive position in our industry, expectations regarding our revenue, revenue mix and the revenue generation potential of our solutions, expectations regarding our margins and future profitability, our financial outlook and guidance as well as medium and long-term targets in various financial metrics, and the future impact of the COVID-19 pandemic is forward-looking information. The Russia and Ukraine conflict, including potential impacts of sanctions, may also heighten the impact of certain factors described herein.
In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances. Any financial outlook and targets, as the case may be, may also constitute “financial outlook” within the meaning of applicable securities laws and are provided for the purposes of assisting the reader in understanding the Company’s financial performance and measuring progress toward management’s objectives and the reader is cautioned that it may not be appropriate for other purposes.
Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond our control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors described in greater detail under “Risk Factors” of the Company’s annual information form filed on March 8, 2022 (the “AIF”) such as: risks relating to our business and industry, such as the ongoing COVID-19 pandemic, including the resulting global economic uncertainty and measures taken in response to the pandemic; the rapid developments and change in our industry; intense competition both within our industry and from other payments methods; challenges implementing our growth strategy; challenges to expand our product portfolio and market reach; challenges in expanding into new geographic regions internationally and continuing our growth within our markets; challenges in retaining existing clients, increasing sales to existing clients and attracting new clients; managing our growth effectively; difficulty to maintain the same rate of revenue growth as our business matures and to evaluate our future prospects; history of net losses and additional significant investments in our business; our level of indebtedness; risks associated with past and future acquisitions; challenges related to a significant number of our merchants being small-and-medium sized businesses (“SMBs”); concentration of our revenue from payment services; compliance with the requirements of payment networks; challenges related to the reimbursement of chargebacks from our merchants; our bank accounts being located in multiple territories and relying on banking partners to maintain those accounts; the impact of the United Kingdom’s departure from the European Union; decline in the use of electronic payment methods; changes in foreign currency exchange rates affecting results of operations; deterioration in the quality of the products and services offered; loss of key personnel or difficulties hiring qualified personnel; impairment of a significant portion of intangible assets and goodwill; increasing fees from payment networks; challenges related to general economic and geopolitical conditions, business cycles and credit risks of our clients; reliance on third-party partners to sell some of our products and services; misappropriation of end-user transaction funds by our employees; frauds by merchants, their customers or others; coverage of our insurance policies; the degree of effectiveness of our risk management policies and procedures in mitigating our risk exposure; the integration of a variety of operating systems, software, hardware, web browsers and networks in our services; the costs and effects of pending and future litigation; various claims such as wrongful hiring of an employee from a competitor, wrongful use of confidential information of third parties by our employees, consultants or independent contractors or wrongful use of trade secrets by our employees of their former employers; challenges to secure financing on favorable terms or at all; challenges from seasonal fluctuations on our operating results; risks associated with less than full control rights of some of our subsidiaries; changes in accounting standards; estimates and assumptions in the application of accounting policies; occurrence of a natural disaster, a widespread health epidemic or pandemic or other events; impacts of climate change; challenges related to our holding company structure, as well as risks relating to intellectual property and technology, risks relating to regulatory and legal proceedings and risks relating to our Subordinate Voting Shares.
Forward-looking information is based on management’s beliefs and assumptions and on information currently available to management, regarding, among other things, general economic conditions and the competitive environment within our industry, including the following assumptions: (a) Nuvei’s results of operations and ability to achieve suitable margins will continue in line with management’s expectations, (b) the Company will continue to effectively execute against its key strategic growth priorities, without any material adverse impact from the COVID-19 pandemic on its or its merchants’ business, financial condition, financial performance, liquidity nor any significant reduction in demand for its products and services, (c) losses owing to business failures of merchants and customers will remain in line with anticipated levels, (d) the Company’s ability to capture an increasing share of addressable markets by continuing to retain and grow existing customer relationships in high growth verticals while adding new customers adopting our technology processing transactions in existing and new geographies at or above historical levels, (e) Nuvei’s continued ability to maintain its competitiveness relative to competitors’ products or services, including as to changes in terms, conditions and pricing, (f) Nuvei’s continued ability to manage its growth effectively, (g) the Company will continue to attract and retain key talent and personnel required to achieve its plans and strategies, including sales, marketing, support and product and technology operations, in each case both domestically and internationally, (h) the Company’s ability to successfully identify, complete, integrate and realize the expected benefits of, acquisitions and manage the associated risks, (i) absence of material changes in economic conditions in our core markets, geographies and verticals, (j) the size and growth rates of our addressable markets and verticals, including that the industries in which Nuvei operates will continue to grow consistent with management’s expectations, (k) the accuracy of our assumptions as to currency exchange rates and interest rates, including inflation, and volatility in financial markets, (l) the absence of adverse changes in legislative or regulatory matters, (m) the absence of adverse changes in current tax laws, (n) projected operating and capital expenditure requirements, and (o) the COVID-19 pandemic, including any variants, having durably subsided with broad immunity achieved in our core markets, geographies and verticals, including the elimination of social distancing measures and other restrictions generally in such markets. Unless otherwise indicated, forward-looking information does not give effect to the potential impact of any mergers, acquisitions, divestitures or business combinations that may be announced or closed after the date hereof. Although the forward-looking information contained herein is based upon what we believe are reasonable assumptions, investors are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information.
Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein represents our expectations as of the date hereof or as of the date it is otherwise stated to be made, as applicable, and is subject to change after such date. However, we disclaim any intention or obligation or undertaking to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.
Contact:
Investors
Anthony Gerstein
Vice President, Head of Investor Relations
anthony.gerstein@nuvei.com
Statements of Profit or Loss and Comprehensive Income or Loss Data
(in thousands of U.S. dollars except for shares and per share amounts)
Reconciliation of Adjusted EBITDA and Free cash flow to Net Income and Cash flow from operating activities
(In thousands of U.S. dollars)
- These expenses relate to:
- professional, legal, consulting, accounting and other fees and expenses related to our acquisition activities and financing activities. For the three months ended March 31, 2022, those expenses were $2.8 million ($5.3 million for the three months ended March 31, 2021). These costs are presented in the professional fees line item of selling, general and administrative expenses.
- acquisition-related compensation was $3.4 million for the three months ended March 31, 2022 and nil for the three months ended 2021. These costs are presented in the employee compensation line item of selling, general and administrative expenses.
- change in deferred purchase consideration for previously acquired businesses. No amount was recognized in 2022 and 2021. These amounts are presented in selling, general and administrative expenses.
- severance and integration expenses, which were $0.4 million for the three months ended March 31, 2022 (immaterial for the three months ended March 31, 2021). These expenses are presented in selling, general and administrative expenses.
- These expenses represent expenses recognized in connection with stock options and other awards issued under share-based plans as well as related payroll taxes that are directly attributable to share-based payments. For the three months ended March 31, 2022, the expenses were non-cash share-based payments of $37.2 million ($4.1 million for three months ended March 31, 2021), and $0.1 million for related payroll taxes (nil in 2021).
- This line item primarily represents legal settlements and associated legal costs, as well as non-cash gains, losses and provisions and certain other costs. These costs are presented in selling, general and administrative expenses.
Reconciliation of Adjusted net income and Adjusted net income per basic share and per diluted share to Net Income
(In thousands of U.S. dollars except for share and per share amounts)
- This line item relates to amortization expense taken on intangible assets created from the purchase price adjustment process on acquired companies and businesses and resulting from a change in control of the Company.
- These expenses relate to:
- professional, legal, consulting, accounting and other fees and expenses related to our acquisition activities and financing activities. For the three months ended March 31, 2022, those expenses were $2.8 million ($5.3 million for the three months ended March 31, 2021). These costs are presented in the professional fees line item of selling, general and administrative expenses.
- acquisition-related compensation was $3.4 million for the three months ended March 31, 2022 and nil for the three months ended 2021. These costs are presented in the employee compensation line item of selling, general and administrative expenses.
- change in deferred purchase consideration for previously acquired businesses. No amount was recognized in 2022 and 2021. These amounts are presented in selling, general and administrative expenses.
- severance and integration expenses, which were $0.4 million for the three months ended March 31, 2022 (immaterial for the three months ended March 31, 2021). These expenses are presented in selling, general and administrative expenses.
- These expenses represent expenses recognized in connection with stock options and other awards issued under share-based plans as well as related payroll taxes that are directly attributable to share-based payments. For the three months ended March 31, 2022, the expenses were non-cash share-based payments of $37.2 million ($4.1 million for three months ended March 31, 2021), and $0.1 million for related payroll taxes (nil in 2021).
- This line item primarily represents legal settlements and associated legal costs, as well as non-cash gains, losses and provisions and certain other costs. These costs are presented in selling, general and administrative expenses.
- This line item reflects income tax expense on taxable adjustments using the tax rate of the applicable jurisdiction.
- The number of share-based awards used in the diluted weighted average number of common shares outstanding in the Adjusted net income per diluted share calculation is determined using the treasury stock method as permitted under IFRS.
Revenue by geography
The following table summarizes our revenue by geography based on the billing location of the merchant:
Reconciliation of Organic revenue and Organic revenue growth to Revenue
(a) We acquired Mazooma Technical Services Inc. (“Mazooma”) on August 3, 2021, and SimplexCC Ltd. (“Simplex”) and Paymentez LLC (“Paymentez”) on September 1, 2021.
Novibet Extends its Global Partnership with Nuvei for Card Processing and Alternative Payments
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nuvei.com/posts/
novibet-extends-its-global-partnership-with-nuvei-for-card-processing-and-alternative-payments
Nuvei is now Enabling Novibet to Accept Apple Pay and Expand Internationally Through a Single Integration
Nuvei is now Enabling Novibet to Accept Apple Pay and Expand Internationally Through a Single Integration
MONTREAL and MALTA, APRIL 25, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), tomorrow’s payment platform, announces today that it is extending its partnership with Novibet, a leading European sports betting and online casino operator, to accept payments as it expands globally.
Building on a successful partnership delivering card processing solutions in countries such as Greece, Italy, and Ireland, Novibet is now also offering its players the option to deposit seamlessly and securely using Apple Pay for the first time via its single point of integration with Nuvei. Players will be able to request payouts to Apple Pay as well. Apple Pay’s convenient checkout user experience makes it an attractive deposit option, in particular for returning players that want to upload funds through the quickest possible method.
Novibet is rapidly expanding its customer base across Europe, with accelerated growth in countries across the continent. The operator is also expected to launch in more markets internationally including the U.S., Mexico, and Canada, starting later this year.
Nuvei’s strong heritage supporting gaming companies to expand geographically through its intimate knowledge of local customers and regulations, and a fully customizable cashier to adapt to each market, means it is the payments partner of choice for leading operators when considering how to grow internationally.
Philip Fayer, CEO & Chair of Nuvei commented: “Providing players with the most relevant payments experiences and the ability to grow internationally is at the heart of what Nuvei brings to gaming. Enabling Novibet to add Apple Pay to our card processing solution is a great example of this. Seamless deposits and payouts have been growing in significance for the industry for some time and this trend will only continue.
“We’re looking forward to working closely with Novibet and are very excited about growing together globally this year.”
Konstantinos Andris, COO of Novibet added: “Novibet is one of the most innovative GameTech brands, operating in Europe and soon to launch in America. Adding Apple Pay to our payment options is another example of this. Enabling players to use all the relevant payment methods is critical to maintaining our industry-leading player experience.
“And it is easy to see why Apple Pay is growing in popularity as a payment method. The ease and security of the checkout process is valuable to our players, which is why we are excited that our partnership with Nuvei means that we can offer this in an equally convenient and safe manner.”
With this announcement Nuvei continues to demonstrate why it is the global leader for online payments. Nuvei enables businesses to accept over 550 local and alternative payment methods including Instant Bank Transfer, digital wallets and real-time bank transfers via a fully customizable checkout to suit local consumers across the globe, and has deep regulatory knowledge to support operators as they enter new markets.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow’s payment platform. Designed to accelerate customers’ business, Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 46 markets, 150 currencies and more than 550 alternative payment methods, including cryptocurrencies, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com.
Contact:
Public Relations:
PR@Nuvei.com
Investor Relations
IR@nuvei.com
About Novibet
Novibet is an established GameTech company operating in Europe through its Headquarters in Malta, offices in Greece and employees in Isle of Man, UK, and Italy. Licensed and regulated by HGC, MGA, ADM, and Irish Revenue Commissioners, Novibet is committed to delivering the best sports betting and gaming experience to an ever-expanding customer base. Since 2010, Novibet has offered online sports betting and casino entertainment, in many competitive European markets.
Novibet provides the best online casino games, having teamed up with the world’s leading online casino content providers. With over 5,000 online casino games available, Novibet delivers a plethora of slots, casino table, live-action, and many more game types across desktop, mobile, and tablet devices.
Novibet has its own proprietary betting platform that integrates leading official data providers; its own algorithms generating an extensive betting offer that includes In Play and Minute markets; in house developed Automatic and Hybrid Cash-Out options; quick settlement of bets; and unparalleled excitement to sports enthusiasts.
nextmarkets partners with Nuvei to expand internationally
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Nuvei
nuvei.com/posts/
nextmarkets-partners-with-nuvei-to-expand-internationally
Nuvei announces partnership with nextmarkets, one of Europe’s most innovative commission-free online brokers
Nuvei announces partnership with nextmarkets, one of Europe’s most innovative commission-free online brokers
MONTREAL and COLOGNE, April 12, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the global payment technology partner of thriving brands, announces today its partnership with nextmarkets, one of Europe’s most innovative commission-free online brokers.
Through its proprietary payment platform, Nuvei will help solidify nextmarkets’ capabilities in the markets they already operate in, as well as power their expansion outside of Europe, as they continue to democratize the trading experience for people around the world.
“nextmarkets’ vision to enable all investors, regardless of experience to achieve financial success in their online trading activities by combining innovative technology with powerful expert knowledge, is aligned with our own,” said Nuvei Chair and CEO Philip Fayer. “Uniting payment technology and consulting, we help businesses remove payment barriers and increase acceptance rates. We are excited to partner with nextmarkets to aid their international expansion,” he added.
Leveraging Nuvei’s more than 530 alternative payment methods and local acquiring in 46 markets, nextmarkets will be able to facilitate seamless pay-ins and pay-outs for their customers with a payment method of their choice.
Commenting on the partnership, nextmarkets Co-founder and CEO, Manuel Heyden, said: “nextmarkets develops the latest technologies for one purpose: to make people more successful on stock markets. We believe the trading experience should be high-performing, seamless, and intuitive – and the payment process is an integral part of the investment journey.”
nextmarkets Co-founder and CTO Dominic Heyden said: “We are proud of the fact that we built an online broker top-to-bottom, on our own technology, with a comprehensive regulatory framework, active in seven European markets.”
“As nextmarkets prepares to grow the business outside of Europe, we need partners on this journey. Nuvei’s flexible technology delivered through a single integration, complements our own and positions us perfectly for our ambitious growth plans. So, we’re excited about the future,” he said.
About Nuvei
We are Nuvei (Nasdaq: NVEI) (TSX: NVEI), the global payment technology partner of thriving brands. We provide the intelligence and technology businesses need to succeed locally and globally, through one integration – propelling them further, faster. Uniting payment technology and consulting, we help businesses remove payment barriers, optimize operating costs and increase acceptance rates.
Our proprietary platform provides seamless pay-in and payout capabilities, connecting merchants with their customers in over 200 markets worldwide, with local acquiring in 46 markets. With support for more than 530 local and alternative payment methods including cryptocurrencies, and nearly 150 currencies, merchants can capture every payment opportunity that comes their way. Our purpose is to make our world a local marketplace.
For more information, visit www.nuvei.com.
Contact:
Investor Relations
IR@nuvei.com
Public Relations
PR@nuvei.com
About nextmarkets
nextmarkets – Europe’s commission-free neobroker with offices in Cologne, Amsterdam, London, Malta and Cyprus, offers commission-free trading in over 7,000 equities from 52 countries and 1,000 ETFs. With our unique technology, support for MetaTrader 4 and a web-client, our customers can choose their favourite way of trading and have free access to “Curated Investing”: Here, more than a dozen trading experts prepare up to 300 analyses every month – free of charge and in real time. This way, anyone can learn how to trade stocks and benefit from the knowledge of the experts.
For more information, visit www.nextmarkets.com
Contact:
Bibox Partners with Nuvei To Enable Easier Access to Cryptocurrencies
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Nuvei
nuvei.com/posts/
bibox-partners-with-nuvei-to-enable-easier-access-to-cryptocurrencies
Industry-leading AI digital asset trading platform Bibox has integrated Nuvei's Simplex solution to streamline access to 145+ cryptocurrencies
Industry-leading AI digital asset trading platform Bibox has integrated Nuvei's Simplex solution to streamline access to 145+ cryptocurrencies
MONTREAL, May 9, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), tomorrow’s payment platform, announces today its partnership with Bibox, the world’s first AI-driven digital asset trading platform. The collaboration will provide Bibox customers with a unified trading experience by enabling easy access to cryptocurrencies through the Simplex by Nuvei on-ramp solution.
Following the integration, Bibox users can enjoy a seamless checkout experience when purchasing cryptocurrencies using credit and debit cards, Apple Pay, SEPA or SWIFT transfers. The partnership with Nuvei ensures frictionless and secure user journeys while granting Bibox full chargeback and fraud protection guarantee.
Bibox has become a top-tier exchange by trading volume and provides first-class security, stability, and transparency. In addition, the trading platform offers various financial tools, including coin-margined futures, bot trading, leveraged trading, over-the-counter, and current financing. To date, Bibox supports more than 20 million registered users across dozens of countries.
The use of artificial intelligence (AI) provides numerous benefits to Bibox and its customers. Becoming a trustworthy digital asset platform requires a thorough analysis of users, tracking suspicious behaviour, and multiple screening rounds for information. The Bibox AI system analyzes new token listings in real-time and gauges a project’s feasibility. In-house blockchain experts further review the data and list secure and trustworthy projects.
The partnership with Bibox adds to Nuvei’s robust and growing partner network. Its Simplex by Nuvei solution powers the crypto industry’s top exchanges, wallets and trading platforms.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow’s payment platform. Designed to accelerate customers’ business, Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 550 alternative payment methods, including cryptocurrencies, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com.
Contact:
Public Relations
PR@nuvei.com
About Bibox
Bibox, one of the world’s largest crypto exchanges registered in Estonia, has offices in the U.S., Switzerland, Canada, China, South Korea, Japan, Singapore, and Vietnam, with plans to expand to more countries. Bibox traders enjoy secure, stable, and user-friendly digital assets management services, with access to over 140 high-quality coins and over 200 trading pairs.
Marketplace for Gamers Eneba Boosts Global Payments Conversion with Comprehensive Suite of Nuvei APMs
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Nuvei
nuvei.com/posts/
marketplace-for-gamers-eneba-boosts-global-payments-conversion-with-comprehensive-suite-of-nuvei-apms
Eneba can now offer a hyper-localized payment experience around the world, reducing friction at the checkout
Eneba can now offer a hyper-localized payment experience around the world, reducing friction at the checkout
MONTREAL, April 13, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the global payment technology partner of thriving brands, announces today that its client, Eneba, a marketplace for gaming products, has grown its overseas presence and boosted its revenue thanks to a new partnership with Nuvei.
Eneba is a fast-growing global marketplace with more than 5 million active users. The platform focuses on providing trust, safety, and market accessibility to its gaming customers. By partnering with Nuvei, Eneba was able to offer more than 530 local and alternative payment methods as well as a hyper-localized payment experience around the world, reducing friction at the checkout, and improving conversion rates.
“We are delighted to be a marketplace partner of choice for Eneba, which has a passion for delivering sustainability and accessibility,” explains Philip Fayer, CEO and Chair of Nuvei. “By expanding the payment options Eneba offers to its customers, we’re helping their business grow. This, in turn, boosts the important progress they are making in both gaming and the wider retail industry.”
Eneba CEO Vytis Uogintas said the collaboration showed how important it was to have simple payment solutions in gaming. “Our mission was to bring an outstanding selection of games to every single interested player, in the safest, most trustworthy, and cheapest way possible,” Vytis Uogintas explains. “Through our partnership with Nuvei, we’ve created a safer end-to-end experience that is both seamless and intuitive for all our global customers.”
Eneba is trusted by its customers thanks to its features like one-click gamer experience and fingerprinting technology. Now, Eneba will benefit from Nuvei’s industry-leading uptime and virtually unlimited scalability as well as a customizable checkout experience and local settlement.
About Nuvei
We are Nuvei (Nasdaq: NVEI) (TSX: NVEI), the global payment technology partner of thriving brands. We provide the intelligence and technology businesses need to succeed locally and globally, through one integration – propelling them further, faster. Uniting payment technology and consulting, we help businesses remove payment barriers, optimize operating costs and increase acceptance rates.
Our proprietary platform provides seamless pay-in and payout capabilities, connecting merchants with their customers in over 200 markets worldwide, with local acquiring in 46 markets. With support for more than 530 local and alternative payment methods including cryptocurrencies, and nearly 150 currencies, merchants can capture every payment opportunity that comes their way. Our purpose is to make our world a local marketplace.
For more information, visit www.nuvei.com.
Contact:
Investor Relations
IR@nuvei.com
Public Relations
PR@nuvei.com
About Eneba
Eneba is a marketplace designed for gamers to buy, sell and discover all things gaming with ease. Launched in 2018 by two Lithuanian school friends, Vytis Uogintas and Žygimantas Mikšta, today Eneba supports more than 5m active users. Eneba platform’s focus is to reduce risky transactions, simplify the refunding process and deal with fraud threats thanks to its security features, “one-click to buy” gamer experience, and fingerprinting technology. The platform also optimizes its localized gaming experiences to show locally trending gaming products. In short, it provides a level of trust, safety, and market accessibility unparalleled to none.
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