Stay informed with Nuvei’s updates on payments, innovations, and strategies to accelerate your business.
Unlock seamless financial transactions with Interac and Instant Bank Transfer. Enjoy rapid, secure payments anytime, anywhere.
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.
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.
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.
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.
Unlock seamless financial transactions with Faster Payments and Pay with Bank Transfer. Enjoy rapid, secure payments anytime, anywhere.
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.
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.
Enjoy secure, hassle-free payments directly from your bank account with Pay with Bank transfer, powered by American Express but accessible to all.
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.
Unlock seamless financial transactions with SEPA and SEPA Instant Credit Transfer. Enjoy rapid, secure payments anytime, anywhere.
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.
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.
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.
Protect your customers' data and prevent fraud. Say goodbye to chargebacks with our guaranteed solution.
Discover Nuvei's U.S. Bank Transfer services for seamless, rapid, and secure payments. Leverage ACH, RTP, and FedNow networks for flexible money transfers.
Enjoy effortless transactions, instant payment options, and transparent reporting. Protect your business with our Assured Funds guarantee.
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.
Mitigate payment risks effectively with Nuvei's Assured Funds, an insurance solution designed to protect businesses from potential losses caused by unauthorized, returned payments.
Ensures protection against unpaid transactions and fraud. We assume the risk and handle collections, letting you focus on business.
Guarantees funds on all returns, including unauthorized returns. Rapid merchant funding accelerates settlement and payment.
Prevent fraud and reduce returns with smart approval logic. We offer three validation levels for your unique business needs.
Enhanced security, real-time validation, and commercially reasonable bank account validation.
Powerful add-on that offers a deeper level of validation and greater fraud prevention.
Reduces administrative and NSF returns by providing the latest status of customer bank accounts.
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.
Discover Nuvei's seamless issuing payment solutions, including customizable physical and virtual cards, unified acquiring and issuing, and data-driven insights.
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.
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.
Streamline vendor payments swiftly and cost-effectively with Nuvei’s virtual card.
Combine card issuing with acquiring and settlement accounts, all on one platform.
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.
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.
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.
Drive smarter decisions with Nuvei's Analytics Dashboard. Access holistic payment data and detailed transaction insights on a single platform for improved business outcomes.
Integrate with our global data hub to maximize potential revenue. Automate data and report distribution to optimize your transactions.
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.
Convert more payment transactions through data-driven rules and innovative routing powered by advanced analytics.
Run reports and optimize payments from one central dashboard.
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.
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.
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.
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.
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.
Why wait? Experience lightning-fast fund transfers with our instant payment solutions. Streamline your financial operations with ease and speed and delight your customers.
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.
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.
Experience cost-efficient, reliable, and fast bank transfers with Nuvei. Streamline your payment processing, elevate customer satisfaction, and boost conversion rates globally.
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.
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.
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.
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.
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.
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.
Automated Clearing House (ACH), Real-time Payments (RTP®), FedNow
SEPA, SEPA Instant
Faster Payments, Pay with Bank Transfer
Interac®
Streamline your financial processes with Nuvei's Reconciliation Management. Automate and manage payment reconciliation effortlessly for improved accuracy and efficiency.
With a streamlined process, everything is faster, more accurate and less expensive to manage.
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.
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.
Master your payment operations with Nuvei's Payment Orchestration. Streamline and manage complex payment flows with our comprehensive tools for maximum control and insight.
Control and manage the entire payment process for optimal performance, sales and revenue.
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.
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.
Convert more payments by avoiding declined transactions. From one dashboard, you can set and manage data-driven rules.
Advanced analytics power innovative transaction routing.
Nuvei chargeback management tools can prevent and eliminate potential chargebacks before they happen - and mitigate the damage of those that do.
Keep on top of business performance with a crystal-clear view of your payments data across all channels.
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.
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.
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.
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.
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.
One partnership for all your crypto business needs. Enable your blockchain assets for seamless onramps with 100+ fiat currencies, globally.
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.
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.
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.
Elevate the buying experience with Nuvei's embedded financial services. Discover seamless integration today and transform your revenue streams.
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.
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.
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.
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.
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.
Mitigate chargeback risks with Nuvei's effective resolution services. Streamline dispute processes, reduce fraudulent claims, and protect your revenue with our advanced tools.
Prevent the majority of would-be chargebacks before they materialize. Transactions are protected with pre-chargeback mitigation, smart fraud-screening, alerts and communications.
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.
Control disputes or chargebacks quickly and easily with integrated solutions from Visa and Mastercard.
Facilitate global commerce with Nuvei's Currency Management. Simplify FX transactions, enhance payment flexibility, and offer customers native currency options for improved satisfaction.
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.
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.
By offering customers pricing in their domestic currency, you can make card purchasing transparent and trustworthy while earning a percentage commission.
Protect your business with Nuvei's Fraud & Risk Management solutions. Minimize threats and secure data while maintaining a smooth customer experience.
From advanced fraud detection to industrial grade tokenization and KYC, Nuvei protects you and your customers.
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.
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.
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.
oost your transaction approval rates with Nuvei's Authorization Optimization. Benefit from advanced analytics and tailored strategies to enhance payment success and revenue.
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.
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.
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.
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.
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.
Nuvei's global reach and authorization optimization suite delivers seamless experiences for high-volume global ticketing vertical
MONTREAL and BOLOGNA, May 20 2025 – Nuvei, the Canadian fintech company, today announced its partnership with Vivaticket, one of the world’s leading providers of integrated ticketing software solutions for the leisure, entertainment, sport, culture, and tradeshow industries. Through this agreement, Nuvei will provide Vivaticket with local acquiring and authorization optimization services to enhance its card payment processing capabilities globally and provide a frictionless checkout experience that accommodates its customers wherever they are and however they prefer to pay. The partnership will initially launch in Italy, with future expansion into other international markets already planned.
Vivaticket chose Nuvei not only for its ability to deepen global customer connections through payments via a single connection to its core platform, but also for its technological agility, developer-friendly APIs, and modular platform. Nuvei's human approach to customer service and hands-on support were also decisive factors in forming this partnership.
“This collaboration represents another milestone in Nuvei’s strategic expansion across global enterprise verticals,” said Philip Fayer, Chair and CEO of Nuvei. “Ticketing is a volume-intensive business where every point of conversion matters. With Vivaticket, we’re proving how our platform can unlock global revenue by providing seamless, localized payment experiences to customers worldwide.”
“In today's digital-first world, frictionless payment experiences are essential for customer satisfaction and business growth,” said Silvano Taiani, Vivaticket CEO. “Nuvei's flexible technology platform and unique combination of international reach and local expertise align perfectly with our needs as we expand our global footprint and enhance our ticketing solutions for our diverse client base.”
About Vivaticket
Vivaticket offers an integrated suite of products capable of managing every aspect of the user experience and the services provided. Designed and developed entirely in-house, its system draws on years of experience in live music, theatre, museums, trade fairs, theme parks, football, and sports in general, with clients such as Warner Bros Abu Dhabi, the Louvre Museum in Paris, AS Roma, Internazionale FC and AC Milan, La Biennale di Venezia, the Eiffel Tower, Ocean Parks in Hong Kong, and the Teatro alla Scala in Milan. This makes it the most advanced ticketing and access control system on the market and a global reference for venue management.
Vivaticket press contact
About Nuvei
Nuvei is the Canadian fintech company accelerating business 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 50 markets, 150 currencies and 720 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
European businesses will be able to offer Wero as a payment method in their online checkout through their existing integration with Nuvei
MONTREAL, May 15 2025 – Nuvei, the Canadian fintech company, announces today its membership in the European Payments Initiative (EPI), becoming one of the first payment services providers to enable ecommerce businesses to accept Wero, EPI’s innovative digital wallet, in their online checkouts.
Wero already facilitates instant account-to-account (A2A) transfers using SEPA Instant Credit Transfer protocols, enabling users to send money within 10 seconds via mobile numbers, email addresses, or QR codes. Created to unify Europe’s fragmented payment landscape and enhance financial sovereignty, Wero has already seen rapid adoption, attracting over 40 million users since its initial launch in Germany, France, and Belgium in late 2024. Expansion into the Netherlands and Luxembourg is set to begin shortly, alongside planned enhancements, such as Buy Now Pay Later (BNPL) and customer loyalty programs, further increasing Wero’s appeal to European consumers.
Nuvei’s merchant clients will gain early access to this swiftly expanding European payment solution through their existing single integration with Nuvei’s core payments platform. While pilot programs begin in May 2025, general availability for merchants is scheduled for September 2025.
Philip Fayer, Nuvei Chair and CEO, commented on the announcement: “Europe is actively seeking greater payment sovereignty and consumer-centric solutions, and Wero directly addresses these strategic imperatives. By integrating Wero into our platform early, we are empowering our merchant partners to capitalize on emerging payment trends and deliver preferred local payment experiences at scale. This positions Nuvei uniquely as a leader in supporting European merchants with forward-thinking payment innovations.”
Martina Weimert, CEO of EPI, added: “Our partnership with Nuvei is a new key step towards Wero's expansion to the e-commerce sector. By making Wero available to Nuvei's extensive merchant network, we're accelerating the adoption of a truly European payment solution that enhances financial sovereignty while delivering a seamless, easy and innovative experience for consumers and businesses alike. This collaboration aligns perfectly with our vision of creating a unified payment ecosystem that serves the unique needs of the European market.”
This strategic partnership underscores Nuvei’s ongoing commitment to building the most comprehensive and agile alternative payment method (APM) portfolio. Through a single, flexible integration, Nuvei enables merchants globally to customize their payment offerings effortlessly, ensuring alignment with local consumer preferences and market trends.
About EPI
EPI (or European Payments Initiative) is supported by 16 European banks and payment service providers. They have joined forces with a common goal: to offer a unified mobile payment service, to all European companies and citizens, Wero (add link). EPI intends to enable European consumers and merchants and to carry out all types of retail transactions simply, via a resolutely sovereign digital wallet.
Find out more at epicompany.eu
About Wero
Based on instant account-to-account (A2A) payments, Wero further streamlines payments in Europe by eliminating intermediaries in the payment chain and the associated additional costs. Wero already supports payments between individuals, and will shortly unveil payments to professionals (P2Pro) and those for online and mobile purchases. Point-of-sale payments will also be offered, as well as value-added services such as merchant loyalty programs and recurring subscription management.
Find out more at wero-wallet.eu.
About Nuvei
Nuvei is the Canadian fintech company accelerating business 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 50 markets, 150 currencies and 720 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
The partnership supports seamless, secure payments through Quadient’s AR and AP solutions for businesses across North America, the UK and Europe
PARIS and MONTREAL, MAY 13 2025 - Quadient (Euronext Paris: QDT), a global automation platform powering secure and sustainable business connections, and Nuvei, a leading global payments company, today announced a strategic technology partnership to enhance cloud payment capabilities for businesses globally. Through this partnership, Nuvei’s advanced payment processing technology is now integrated into Quadient’s cloud-based Accounts Receivable (AR) and Accounts Payable (AP) automation solutions, providing businesses of all sizes across North America, the UK and Europe with a unified platform to manage B2B payments more efficiently, securely and at scale.
With the integration of advanced global payments capabilities, Quadient is tackling a major challenge in the fast-evolving $120 trillion global B2B payments ecosystem, where more than half of small and midsize businesses still rely on fragmented systems to manage financial transactions . Quadient now offers a unified, scalable cloud-based platform that automates AR and AP across multiple currencies, payment methods and regions.
By integrating capabilities such as customer onboarding, pay-ins and payouts, and risk management, Quadient helps businesses navigate the complexities of cash flow management, align payment terms, and transition from manual, fragmented processes to streamlined digital workflows.
“We’re excited to be able to offer our customers globally a solution that goes beyond just automating payments. We’re empowering businesses to modernize and take control of their financial processes,” said Chris Hartigan, chief solution officer, Digital, Quadient. “With our cloud platform, we’re helping businesses streamline workflows, gain deeper financial insights, and build stronger relationships with customers and suppliers, driving efficiency and sustainable growth to succeed in an increasingly digital and regulated marketplace.”
Philip Fayer, Nuvei Chair and CEO, added: “Nuvei B2B technology partners, such as Quadient, provide customers with full-stack, enterprise-grade solutions that optimize payments and deliver a superior payment experience. By integrating our advanced payment processing technology into Quadient's cloud platform, we're enabling businesses to seamlessly manage transactions across multiple currencies and payment methods through a single, unified solution. We look forward to supporting Quadient as it empowers its customers with customized solutions to accelerate their growth.”
About Quadient®
Quadient is a global automation platform powering secure and sustainable business connections through digital and physical channels. Quadient supports businesses of all sizes in their digital transformation and growth journey, unlocking operational efficiency and creating meaningful customer experiences. Listed in compartment B of Euronext Paris (QDT) and part of the CAC® Mid & Small and EnterNext® Tech 40 indices, Quadient shares are eligible for PEA-PME investing. For more information about Quadient, visit http://www.quadient.com/en/.
About Nuvei
Nuvei is a global leader in B2B payments. It offers modern, future-proof technology that empowers customers to accept frictionless payment methods, unlock new revenue opportunities, and enhance the value of existing software —all in one seamless solution. For more information, visit www.nuvei.com.
Media Contacts
Joe Scolaro, Quadient
Global Press Relations Manager
+1 203-301-3673
j.scolaro@quadient.com
Alex Hammond, Nuvei
Alex.hammond@nuvei.com
Expanded integration with Sage Intacct CRE streamlines complex B2B payment workflows and unlocks new revenue potential in $1.5 trillion construction industry
MONTREAL, MAY 6, 2025 – Nuvei, the global payments accelerating business, today announced the strategic expansion of its B2B payments capabilities for the U.S. construction sector – a high-growth vertical projected to reach $1.54 trillion by 2028. ¹ The move reinforces Nuvei’s vertical market strategy, enabling the company to deepen its footprint in construction by embedding payments into the software platforms most critical to industry operations.
This expansion includes new integration support for Sage Intacct Construction Real Estate (CRE), enhancing Nuvei’s existing support for Sage 100 Contractor and Sage 300 CRE. The move reinforces Nuvei’s vertical market strategy, enabling the company to deepen its footprint in construction by embedding payments into the software platforms most critical to industry operations.
Construction businesses leveraging this new integration can improve cash flow and reduce administrative friction, with:
• Real-time payment processing
• Automated invoicing
• Seamless reconciliation
• Surcharging capabilities to recover credit card processing costs and improve profitability without increasing prices
These capabilities are designed to address the unique payment complexities of the construction industry, including multi-tiered subcontractor relationships, lien waiver compliance, tax workflows, and project-based billing cycles, which have traditionally resulted in delayed payments, manual processes, and strained cash flow.
The U.S. construction market is expected to grow at a 5.0% CAGR from 2024 to 2028¹, with digital payment adoption among contractors, subcontractors, and suppliers accelerating amid ongoing digitization of project finance operations. Nuvei is uniquely positioned to address these industry-specific challenges with its specialized payment solutions that eliminate manual work, improve operational efficiency, and accelerate cash flow – critical factors for success in the construction sector. Its platform is backed by expert consulting and support teams with decades of industry experience, ensuring clients receive both technological and practical expertise.
Philip Fayer, Nuvei Chair and CEO, commented on the announcement: “The construction industry has historically been underserved when it comes to payment technology. With our latest integration into Sage Intacct CRE, we're enabling thousands of firms to reduce complexity and accelerate cash flow. This is a prime example of Nuvei’s strategy to create value by aligning deep vertical expertise with embedded payments infrastructure.”
¹ Source: U.S. Construction Outlook, ResearchAndMarkets.com, 2024
About Nuvei
Nuvei 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 50 markets, 150 currencies and 720 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
Partnership enhances localized payment experiences for Temu customers worldwide
MONTREAL, February 28 2025 – Nuvei Corporation ("Nuvei" or the "Company"), the Canadian fintech company, announces today that it has formed a strategic partnership with Temu, the global online marketplace known for value-for-money products, to enhance the shopping experience through providing customers with greater access to their preferred local payment methods.
Temu customers across the globe now enjoy a smooth shopping experience though seamless, secure card payments as well as the ability to pay using their preferred local payment methods. The integration supports local direct card acquiring and popular regional payment options including Konbini in Japan; Blik and P24 in Poland; Bancontact in Belgium; iDeal in the Netherlands; and MBWAY and Multibanco in Portugal. This customer-centric approach will expand further in 2025, with plans to enhance payment experiences in new markets.
“As online shopping continues to grow, seamless and secure payments are essential for delivering the best possible experience," commented Philip Fayer, Nuvei Chair and CEO. "By offering hyper-localized payment experiences on a global scale, we're enabling international eCommerce giants like Temu to develop deeper relationships with their customers through payments, wherever they are and however they want to pay.”
“At Temu, we are committed to making quality products more accessible and ensuring a smooth shopping experience for our customers worldwide,” said a Temu spokesperson. “Providing localized payment options is an important part of improving convenience for customers, and we are always looking for ways to optimize our payment processes to meet the needs of different markets.”
Nuvei's powerful combination of global reach, extensive alternative payment method connectivity, and best-in-class authorization optimization suite continues to attract leading eCommerce companies. Notable partnerships include other industry leaders such as Charles & Keith, who have selected Nuvei as their payments partner both locally and internationally.
About Temu
Temu is an online marketplace that connects consumers with millions of sellers, manufacturers and brands around the world with the mission to empower them to live their best lives. Launched in the US in September 2022, Temu is committed to offering the most affordable quality products to enable consumers and sellers to fulfill their dreams in an inclusive environment. For more information, visit: www.temu.com
About Nuvei
Nuvei 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 50 markets, 150 currencies and 720 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
Fintech veterans Moshe Selfin and Chad Gerhardstein join as Chief Product Officer and Chief Risk and Compliance Officer respectively
MONTREAL, February 18 2025 – Nuvei Corporation (“Nuvei” or the “Company”), the Canadian fintech company, today announces the appointment of two new executives to its senior leadership team. Moshe Selfin joins as Chief Product Officer, reporting to Nuvei Chair and CEO Philip Fayer, while Chad Gerhardstein assumes the newly created role of Chief Risk and Compliance Officer, reporting to CFO David Schwartz.
These strategic appointments represent Nuvei's continued investment in its product innovation and risk management and compliance capabilities, reinforcing the Company's commitment to delivering innovative payment solutions while maintaining industry-leading standards.
Selfin joins Nuvei from Finaro (acquired by Shift4), where he most recently served as Chief Operations & Technology Officer. Selfin will spearhead Nuvei's global product strategy and development, focusing on expanding the Company's suite of customer-centric payment solutions and extending the global reach of its technology stack. This appointment underscores Nuvei's commitment to technological innovation and its mission to enable businesses to get closer to their customers through advanced payment capabilities.
Gerhardstein brings extensive risk management and compliance expertise within the payments industry to Nuvei. He joins from PwC, where he was a leader specializing in cyber risk and regulation for the Fintech, payments, and digital assets sectors. Previously, he held senior positions at Vantiv and served as Chief Compliance Officer at Worldpay. In his role, Gerhardstein will strengthen Nuvei's global risk management and compliance framework, ensuring the Company maintains its position as a trusted partner for global businesses to execute international expansion.
“I’m delighted to welcome Moshe and Chad to the team. These appointments reflect our ongoing commitment to investing in top talent as we execute our strategic vision," commented Philip Fayer, Nuvei's Chair and CEO. "Moshe's proven track record in strategic planning and delivery for fast-growing technology businesses will accelerate our product innovation and enhance our ability to deliver cutting-edge payment solutions globally. Chad's deep expertise in risk and compliance will be invaluable in supporting Nuvei's customers with seamless market entry while maintaining robust risk management practices and regulatory compliance across all jurisdictions.”
About Nuvei
Nuvei 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 50 markets, 150 currencies and 720 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
The Company continues to extend its global reach with strengthened presence in the world’s fourth largest eCommerce market
MONTREAL, January 27 2025 – Nuvei Corporation (“Nuvei” or the “Company”), the Canadian fintech company, today announces an expansion in Asia-Pacific (APAC), having completed the acquisition of Paywiser Japan Limited, including its acquiring license granted by the Japanese Ministry of Economy, Trade and Industry. The license enables Nuvei to progress with launching direct acquiring capabilities in Japan across all major card schemes, and to extend its direct connectivity with all relevant alternative payment methods (APMs) in the country.
With its new Japan headquarters in Tokyo complementing existing offices in China, Hong Kong, Australia, and Singapore, Nuvei now boasts over 200 on-the-ground payments experts across the region.
Strategic expansion into APAC's second largest eCommerce market
Nuvei's comprehensive range of agile payments solutions will support Japanese businesses scale both in-market and cross-border, as well as enable global businesses to expand into the Japanese market seamlessly.
For Nuvei’s international customers, market entry into Japan through an existing single integration to the Nuvei core platform presents an exciting and sizeable opportunity. Japan is the fourth largest eCommerce market globally and second largest in the APAC region. The Japanese market is expected to grow at a Compound Annual Growth Rate of 11.6% from 2024 to 2032, with Total Market Size increasing from USD$230 billion to more than USD$650 billion by 2032. The volume of online buyers is expected to surpass 100 million people (83% of the population) by 2026, and eCommerce will account for 22% of all commerce transactions by 2028.
Philip Fayer, Nuvei Chair and CEO, commented: “We’re delighted to be building on our existing presence and laying down even stronger roots in Japan, one of the preeminent eCommerce markets globally. This expansion aligns with our strategic priorities to continue growing our global footprint, offer localized payments experiences on a global scale, and enable our customers to get closer to their customers through payments, wherever they are and however they want to pay. With our modular payments technology and extensive local expertise, we're well positioned to help businesses of all sizes accelerate their growth within this dynamic ecosystem.”
About Nuvei
Nuvei 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 50 markets, 150 currencies and 720 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
Nuvei's Omnichannel architecture offers a unified platform for all retail and digital transactions, simplifying operations and enhancing customer experience
MONTREAL, January 20 2025 – Nuvei Corporation (“Nuvei” or the “Company”), the Canadian fintech company, today announced the launch of its innovative Omnichannel payment solution for the UK Gaming industry. This groundbreaking platform unifies all payment channels, offering unprecedented convenience and flexibility for both operators and players.
Key features and benefits of Nuvei's Omnichannel solution for the Gaming industry include:
• Unified Integration: Gaming operators can now manage all payment channels through a single API, simplifying operations and reducing costs.
• Consolidated Reporting: Comprehensive analytics provide valuable insights into player behavior across all channels, enabling data-driven decision-making.
• Enhanced Player Experience:
o Seamless connection between the retail and digital Gaming experience
o Common card tokenization across online and offline channels
o Engaging players across all channels and verticals
• Global Reach, Local Expertise: While tailored for the UK market, the platform supports global expansion with localized payment methods and compliance across the globe.
• Deep Brand Loyalty: The platform's ability to recognize existing online customers when they engage in-person allows for enhanced loyalty programs and targeted promotions, fostering stronger player relationships.
Philip Fayer, Nuvei's Chair and CEO, commented on the announcement: “Our Omnichannel solution is transforming how UK Gaming operators interact with their customers. By breaking down the barriers between online and offline experiences, we're enabling operators to create more personalized and engaging player journeys. This launch represents a significant step in our commitment to providing cutting-edge payment solutions that drive growth and enhance user experience in the rapidly evolving Gaming market.”
One UK based operator already harnessing the benefits of Nuvei’s Omnichannel is Buzz Bingo. Buzz Bingo Head of Product Fraud & Payments Sam Bailey commented: “Nuvei’s Omnichannel solution is a real step ahead from our current retail payment infrastructure. We’re an Omnichannel business and the key benefits of the Omnichannel payments system that Nuvei offers is its diversity as we link our retail environment to our online. There’s been a lot of focus on product development here at Buzz, and the key decision with going with Nuvei is their commitment to continue developing their systems and improving their offering. Nuvei have allowed us to work together on building their roadmap and we feel like a valued partner as we bring new payments channels and options to our customers. We’re looking forward to working collaboratively to make the most out of both of our businesses.”
This announcement further solidifies Nuvei's position as a leader in payment solutions for the Gaming sector as the industry continues to experience rapid growth, with the global market predicted to reach USD$1 trillion by 2030. By offering operators optimized payment acceptance and a seamless experience for players, Nuvei continues to demonstrate why it is the preferred payments partner for Gaming operators across the United Kingdom and globally.
About Nuvei
Nuvei 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 50 markets, 150 currencies and 720 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
Nuvei joins Outpayce’s Xchange Payment Platform (XPP) to streamline global travel payments. With seamless integration, faster onboarding, and enhanced security, this partnership empowers travel businesses to process transactions efficiently across 200+ markets.
MONTREAL, January 16, 2025 – Nuvei Corporation ("Nuvei"), the Canadian fintech company, today announces that it has partnered with Outpayce from Amadeus, as its latest payments service provider to be integrated into Outpayce’s Xchange Payment Platform (XPP).
This strategic partnership positions Nuvei as a global leader in advancing Outpayce's innovative payment ecosystem. Travel businesses leveraging Outpayce’s XPP can now seamlessly access Nuvei’s expansive suite of payment capabilities, enhancing their ability to process transactions efficiently and securely across geographies.
The partnership will offer several significant advantages to Outpayce’s customers:
• Seamless integration: A single connection to Outpayce’s XPP simplifies adoption, integrating multiple airline and travel touchpoints efficiently.
• Accelerated onboarding: Faster implementation timelines help businesses bring payment solutions to market quickly.
• Enhanced security: Nuvei’s advanced security measures ensure secure transactions across all channels.
• Global reach: Through Nuvei’s connectivity in more than 200 markets and support for 720 local payment methods, businesses can offer seamless cross-border payment experiences.
“We're thrilled to welcome Nuvei to our Outpayce partner ecosystem. This collaboration combines our global reach with Nuvei's cutting-edge technology and coverage, empowering customers to simplify their payment processes and enhance the traveler experience,” commented Damian Alonso, Outpayce’s Head of Commercial and Partnerships on the announcement.
Phillip Fayer, Nuvei’s Chair and CEO added: “Our goal is to allow travel businesses to focus on providing exceptional experiences while we handle the complexities of payments, and this integration represents a major leap forward in simplifying and enhancing payment processes for airlines and travel businesses worldwide. Combining Nuvei's innovative payment technology with Outpayce’s extensive travel network is the latest initiative as we continue to revolutionize payments in the travel industry through a single integration for payments that spans countries, currencies, and payment methods.”
Nuvei’s agile payment solutions, alongside its proven expertise in serving the travel industry, position it as an invaluable partner for businesses aiming to optimize their payment processes. Through this partnership with Outpayce, Nuvei continues to expand its footprint, reinforcing its role as a leader in enabling global commerce.
About Outpayce
Amadeus makes the experience of travel better for everyone, everywhere by inspiring innovation, partnerships and responsibility to people, places and planet.
As a wholly-owned company, Outpayce from Amadeus is the next step in scaling the Amadeus payments business with fresh investment in talent, an open API platform and a license to deliver new regulated payment services.
Outpayce delivers smoother end-to-end travel experiences making travel payments simple. Our open platform that connects FinTech and banking service providers to the entire travel ecosystem allows customers and travelers to easily benefit from new advances in payments.
Outpayce Xchange Payment Platform (XPP) solves challenges in areas like authentication, acceptance and foreign exchange (FX) for travel merchants and gives access to partners that resolve areas like chargebacks and fraud management to offer a smoother overall experience for the traveler.
In the B2B payments space, Outpayce orchestrates payments with a range of virtual cards, currencies and payment methods to optimize cost, acceptance and agility wherever a travel seller needs to pay a supplier.
Outpayce delivers an end-to-end experience by continuing to work with all Amadeus’ teams and embedding its capabilities in all of Amadeus' applications. The future is travel simply paid.
To find out more about Outpayce, visit www.outpayce.com.
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About Nuvei
Nuvei 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 50 markets, 150 currencies and 720 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
Discover how Nuvei and GiG's partnership empowers iGaming operators with advanced payment solutions, global reach, and AI-driven player account management for seamless growth.
MONTREAL, January 7, 2025 – Nuvei Corporation (“Nuvei” or the “Company”), the Canadian fintech company, has entered a new strategic partnership with GiG, a leading B2B technology provider to the iGaming industry. This collaboration enables iGaming operators to optimize their payments functionality through their existing integration with GiG's CoreX solution.
CoreX is an advanced, AI-driven player account management (PAM) platform for leading iGaming and sportsbook brands. It provides operators with the flexibility to localize their operations in any regulated jurisdiction, enhancing their ability to meet diverse market demands. Through this direct integration with the GiG CoreX platform, iGaming operators can leverage Nuvei's payments expertise across global iGaming markets to maximize their revenues and accelerate their growth.
The partnership delivers a comprehensive solution that addresses the needs of modern online gaming businesses. This approach is underpinned by Nuvei's deep market expertise gained from more than 20 years innovating payments for the industry, ensuring operators can optimize acceptance rates, execute best-in-class risk management, and navigate the diverse regulatory landscapes of global iGaming markets with confidence.
Operators gain access to Nuvei's extensive global reach in over 200 countries, enabling seamless expansion across international markets through a single, integrated platform. The collaboration also provides GiG-supported operators with industry-leading connectivity to 720 alternative payment methods, enabling them to offer players all relevant deposit and pay out options from their cashier.
Philip Fayer, Nuvei Chair and CEO commented: “We're excited to partner with a proven technology leader and industry expert like GiG. This integration showcases our commitment to providing the most relevant and modern payment solutions that drive growth for our customers. By combining Nuvei's robust modular payment technology with GiG's innovative CoreX platform, we're delivering unparalleled value to iGaming operators worldwide.”
James Coxon, Chief Operating Officer at GiG, added: “Our partnership with Nuvei represents another significant forward step in empowering iGaming operators with the most flexible best-in-class payment solutions. The direct integration of Nuvei's payment technology into CoreX will enable our clients to optimize their payment processes, ultimately improving player satisfaction and operational efficiency.”
About GiG Software Plc
GiG Software is a leading B2B iGaming technology company that provides premium solutions, products, and services to iGaming operators worldwide, fully compliant with regulatory requirements. GiG’s proprietary technology empowers our partners by delivering dynamic, data-driven, and scalable iGaming solutions that drive user engagement, optimise performance, and propel sustainable growth in the ever-evolving digital landscape. GiG’s vision is to be the pioneering force in the iGaming industry, transforming digital gaming experiences through innovation and technology that inspire and engage players worldwide.
GiG operates out of Malta and is listed on the Nasdaq First North Premier Growth Market in Stockholm, Sweden, under the ticker GiG SDB.
Find out more at www.gig.com.
About Nuvei
Nuvei 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 50 markets, 150 currencies and 720 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
Nuvei strengthens global partnership with Google and integrates Google Pay into its cashier for LATAM customers. Merchants in LATAM can now seamlessly add Google Pay into their cashier through an existing integration with Nuvei.
MONTREAL, December 12 2024 – Nuvei Corporation (“Nuvei” or the “Company”), the Canadian fintech company, today announces the expansion of its global partnership with Google to integrate Google Pay, an option now available for merchants across Latin America (LATAM). This collaboration builds upon the existing strong global relationship between Nuvei and Google, and complements Google Pay's existing availability through Nuvei in the United States, Europe, Asia Pacific, and Australia.
Nuvei's integration of Google Pay into its cashier solution for customers is completely streamlined into the checkout process for both merchants and consumers, optimizing the user experience for Google Pay users in the LATAM region.
Google Pay is becoming an essential payment method for online merchants around the world. The integration of Google Pay to Nuvei's cashier solution caters to the evolving preferences of digital-savvy consumers.
Philip Fayer, Nuvei Chair and CEO, commented on the announcement: "Our strengthened partnership with Google and the launch of the integration of Google Pay in Latin America underscore Nuvei's commitment to providing businesses with the most comprehensive in-demand suite of payment options globally. Expanding our collaboration into this vibrant market enables merchants to tap into new customer segments and drive growth across the region."
By integrating Google Pay into Nuvei's payment processes, merchants can offer their customers a simple and secure payment option that meets the demands of the current digital economy.
Nuvei continues to lead the industry with its extensive connectivity to over 720 alternative payment methods, allowing merchants to offer all relevant payment options to their customers in every market they serve, all through a single integration with Nuvei's platform.
About Nuvei
Nuvei 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 50 markets, 150 currencies and 720 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
Businesses in LATAM can now use stablecoins to make faster cross-border B2B payments and settlements through Nuvei’s partnership with Rain, BitGo, and Visa
MONTREAL, December 4 2024 – Nuvei Corporation (“Nuvei” or the “Company”), the Canadian fintech company, today announces the launch of an innovative blockchain-based payment solution for merchants across Latin America (LATAM). Through Nuvei’s partnerships with Rain, a vertically integrated issuing partner for global platforms, BitGo, the leading digital asset custodian and wallet solutions provider, and Visa, Nuvei is enabling businesses to utilize stablecoins – including USD Coin (USDC) – for faster global settlement and reduced reliance on traditional payments rails.
By collaborating with Rain, BitGo, and Visa, Nuvei delivers a seamless and secure blockchain payment experience that empowers LATAM merchants to use their physical or virtual card supported by Visa to make payments using stablecoins from a digital asset wallet anywhere Visa is accepted. The solution benefits from Visa’s wide acceptance and simplifies corporate treasury management, offering faster cross-border transactions, secure digital asset custody, reduced currency complexity, and improved operational liquidity.
"Nuvei empowers businesses to connect more deeply with their customers through innovative payments solutions," commented Nuvei Chair and CEO Philip Fayer. "By integrating stablecoin technology into our payment platform for B2B settlement we're ensuring our merchants continually receive unparalleled flexibility, security, and global reach."
Rain Co-founder and CEO Farooq Malik added: “Our innovative platform connects traditional financial rails with the digital asset ecosystem, providing frictionless transactions for B2B and stablecoin payments. This partnership with Nuvei represents a significant step in making blockchain-based payments more accessible and flexible for businesses in Latin America.”
Luis Ayala, Director at BitGo, commented: “As a leader in digital asset custody and infrastructure, we're excited to support Nuvei's expansion into blockchain payments. Our institutional-grade security and comprehensive digital asset services will help businesses in Latin America leverage stablecoin technology with confidence and operational efficiency.”
This comprehensive blockchain-based payments offering sets a new standard for payment solutions in Latin America, demonstrating Nuvei's commitment to deepening its footprint in a region with rapid eCommerce growth. Year-to-date, Nuvei’s expansion of services in LATAM include being the first global payments service provider to offer direct local acquiring in Colombia, implementing local acquiring services in Mexico, and acquiring a Payment Institution license in Brazil.
About Rain
Rain develops and operates cutting edge digital asset authorization and settlement infrastructure in concert with its innovative payment card solutions. By connecting blockchain settlement with traditional financial systems like the Visa network, Rain drives adoption and utility for digital assets in enterprise and consumer use cases.
Rain offers an asset-agnostic settlement stack with support for stablecoin programs and is a principal member of the Visa network. The company was founded in 2021 and is backed by Lightspeed Venture Partners, Norwest, Coinbase Ventures, Circle Ventures and Uniswap Labs. For more information, visit www.raincards.com.
About BitGo
BitGo provides the most secure and scalable wallet solutions for the digital asset economy, offering regulated custody, staking and trading, and core infrastructure to investors and builders alike.
Founded in 2013, BitGo pioneered the multi-signature wallet and is the first digital asset company to focus exclusively on serving institutional clients. In 2018, it launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets and established BitGo New York Trust in 2021. In 2022, BitGo launched institutional-grade staking, DeFi, NFT and Web3 services. BitGo secures approximately 20% of all on-chain Bitcoin transactions by value and supports more than 700 digital assets within its platform. BitGo provides the security and operational backbone for more than 1500 institutional clients in 50 countries, including many regulated entities and the world's top cryptocurrency exchanges and platforms.
BitGo is backed by Goldman Sachs, Craft Ventures, DRW, Galaxy Digital Ventures, Redpoint Ventures, and Valor Equity Partners. For more information, please visit http://www.bitgo.com
About Nuvei
Nuvei 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 50 markets, 150 currencies and 720 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
Delaware North chooses Nuvei to power payments for online gaming and sports betting
MONTREAL and FORT LAUDERDALE, Fla., November 25 2024 – Nuvei Corporation ("Nuvei" or the "Company"), the Canadian fintech company, announces today that it has been selected by Delaware North’s interactive gaming division to power deposits and payouts for Betly, its online real-money casino and sports betting brand. Delaware North operates Betly in West Virginia, Arkansas, Tennessee and Ohio in the United States.
This partnership enhances the player experience at the checkout, streamlining both the deposit and payout processes for Betly customers across their online casino and sports betting profile. Delaware North is leveraging Nuvei's local acquiring capabilities in the U.S. to accept card payment deposits and enable all the relevant payout methods players demand, including real-time account-to-account transactions via Nuvei's industry-leading Instant Bank Transfer product.
Todd San Jule, general manager for Delaware North’s interactive gaming division and Betly, commented on the announcement: “Providing a seamless and secure iGaming cashier experience is crucial for our customers' satisfaction and our business growth. By partnering with Nuvei, we're able to offer our players a wide range of deposit options and swift payouts across all our online casino and sports betting brands. This collaboration aligns with our commitment to delivering top-tier gaming experiences and positions us to better serve our customers in the competitive U.S. iGaming market.”
Philip Fayer, Nuvei Chair and CEO added: “We're thrilled to partner with Delaware North, one of the premier brands in the hospitality and gaming industry in the U.S. This collaboration showcases our commitment to providing the most relevant and modern payment solutions that drive growth for our customers by enhancing the end user experience in the rapidly evolving iGaming market, further solidifying our position as a global leader in this arena.”
About Nuvei
Nuvei 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 50 markets, 150 currencies and 720 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
About Betly
The interactive gaming division of global hospitality and entertainment company Delaware North operates Betly Casino & Sportsbook online in West Virginia, Betly Sportsbook online in Arkansas and Tennessee in conjunction with Delaware North’s Southland Casino Hotel, and Betly Sportsbook Ohio online in Ohio for Miami Valley Gaming, a joint venture property of Delaware North’s. Online casino enthusiasts can enjoy daily promotions, thrilling tournaments and a robust offering of slots, video table games and live dealer table games on Betly Casino & Sportsbook. Sports bettors can also enjoy all the action of a wide range of betting possibilities on sports, matches and competitions from around the world.
About Delaware North Gaming
Delaware North’s gaming division is one of the most innovative gaming operators in the United States, specializing in regional venues with slots and video gaming machines, table games, poker rooms, full-service restaurants, retail shops and hotels. We have gaming destinations in New York, New Hampshire, Arizona, Arkansas, Florida, West Virginia, Ohio and Illinois, as well as in Australia. We are also the lead consultant on the Catawba Nation’s $700 million casino resort project in North Carolina. Our interactive division operates mobile sports betting and iGaming in several states via the Betly brand, and we also own and operate Ruby Seven Studios, a leading developer of social casino gaming applications. Delaware North is a global leader in hospitality and entertainment. Learn more at www.DelawareNorth.com.
Nuvei Corporation (Nasdaq: NVEI, TSX: NVEI) announces its acquisition by Advent International, Novacap, and CDPQ for $34 per share. CEO Philip Fayer continues to lead as the company embarks on a new growth phase. Learn more.
MONTREAL, November 15, 2024 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI)(TSX: NVEI), the Canadian fintech company, announced today the completion of the previously announced plan of arrangement under the Canada Business Corporations Act (the “Plan of Arrangement”) pursuant to which Neon Maple Purchaser Inc. (the “Purchaser”), an entity formed by Advent International (“Advent”), acquired, directly or indirectly, all the issued and outstanding subordinate voting shares (the “Subordinate Voting Shares”) and multiple voting shares (the “Multiple Voting Shares” and together with the Subordinate Voting Shares, the “Shares”) of the Company for a price of US$34.00 per Share (the “Arrangement”).
As part of the Arrangement, Philip Fayer, certain investment funds managed by Novacap Management Inc. (collectively, “Novacap”) and Caisse de dépôt et placement du Québec (“CDPQ”) (together with entities they control directly or indirectly, collectively, the “Rollover Shareholders”) sold their Shares (the “Rollover Shares”) in exchange for a combination of cash and shares in the capital of the Purchaser or an affiliate thereof, in accordance with the terms of the Plan of Arrangement and the applicable rollover agreement entered into with each Rollover Shareholder in connection with the Arrangement. As a result of the Arrangement, the Company became a wholly-owned subsidiary of the Purchaser, of which Advent, Philip Fayer, Novacap and CDPQ hold or exercise control or direction over, directly or indirectly, approximately 46%, 24%, 18% and 12%, respectively.
Nuvei Founder & CEO Philip Fayer rolled approximately 95% of his Shares and will continue to be one of the largest shareholders in the Company. He will also continue to serve as Nuvei’s Chair and Chief Executive Officer, leading the business in all aspects of its operations, along with Nuvei’s current leadership team who have continued in their roles.
“We are excited to embark on a new chapter with Advent, Novacap and CDPQ, one focused on our long-term strategy and commitment to accelerating the revenue of our customers globally,” said Fayer. “For more than 20 years we have provided customers with mission-critical solutions they need to execute on their growth journeys. This commitment will remain the same as we continue to build deeper partnerships with our customers by providing them modern, flexible and purpose-built technology. A key part of this next phase will be the implementation of our Value Creation Plan, a comprehensive strategic exercise designed to optimize our operations as we execute on various opportunities for accelerated growth. Advent joins our long-standing investors, Novacap and CDPQ, who remain meaningful investors and believe in a dynamic and successful future for Nuvei,” concluded Fayer.
“Since 2017, we have been privileged to support Nuvei’s management in executing its ambitious global growth strategy. Together with a leadership team that continually drives innovation and builds meaningful partnerships across industries, Nuvei has established itself as a fintech leader in key verticals with sustainable, long-term growth potential. As the Company embarks on an exciting new chapter of expansion, we look forward to strengthening our collaboration and unlocking new opportunities to create lasting value for all stakeholders," said David Lewin, Lead Senior Partner at Novacap.
“Ever since our first investment in Nuvei in 2017, CDPQ is proud to have supported this Québec fintech leader at every stage of its growth, particularly through acquisitions on a global scale. We are delighted to accompany Nuvei once again as it embarks on this new chapter of its history, alongside recognized partners such as Advent, as well as existing shareholders Philip Fayer and Novacap,” said Kim Thomassin, Executive Vice-President and Head of Québec at CDPQ.
Bo Huang, Managing Director at Advent, said: “We are excited to begin this partnership and support Nuvei’s growth through investments and acquisitions to best serve its customers globally as a modern payments partner.”
Consideration for the Shares has been remitted by or on behalf of the Purchaser to TSX Trust Company as depositary under the Arrangement, and will be paid to former shareholders of the Company as soon as reasonably practicable after the date hereof (or, in the case of registered shareholders, as soon as reasonably practicable after a properly completed and signed letter of transmittal is received by the depositary together with the share certificate(s) and/or DRS Advice(s) representing Shares formerly held by them).
As a result of the completion of the Arrangement, it is expected that the Subordinate Voting Shares will be de-listed from the Toronto Stock Exchange on or about November 18, 2024 and from the Nasdaq Global Select Market on or about November 25, 2024. The Company has applied to cease to be a reporting issuer under Canadian securities laws in all Canadian jurisdictions. The Company will also deregister the Subordinate Voting Shares under the U.S. Securities Exchange Act of 1934, as amended.
Early Warning Reporting
Further to the requirements of National Instrument 62-104 Take-Over Bids and Issuer Bids and National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, the Purchaser or an affiliate thereof and Philip Fayer and certain entities controlled by Philip Fayer will file an early warning report in accordance with applicable securities laws. A copy of each of the early warning reports will be made available under Nuvei's profile on SEDAR+ at www.sedarplus.ca.
Immediately prior to closing of the Arrangement and the related transactions, AI Maple Aggregator, L.P. ("Maple Aggregator"), an entity formed by Advent with an indirect interest in the Purchaser, did not own, or exercise control or direction over, directly or indirectly, any Shares. Upon the completion of the Arrangement, Maple Aggregator, through its indirect interest in the Purchaser, controls 46% of the 66,096,274 Subordinate Voting Shares and 76,064,619 Multiple Voting Shares issued and outstanding in the capital of the Company. The consideration paid by the Purchaser for the Shares (excluding any Rollover Shares exchanged for shares in the capital of the Purchaser or an affiliate thereof) was US$34.00 per Share (equivalent to C$47.69). The Rollover Shares exchanged for shares in the capital of the Purchaser or an affiliate thereof had an implied value of US$34.00 (equivalent to C$47.69). All figures in this press release have been calculated using a US$:C$ exchange rate of 1.4027, being the daily US$:C$ exchange rate published by the Bank of Canada for November 14, 2024.
Immediately prior to closing of the Arrangement and the related transactions, Philip Fayer and certain entities controlled by Philip Fayer beneficially owned and controlled 27,857,328 Multiple Voting Shares (representing 36.62% of the issued and outstanding Multiple Voting Shares) and 124,986 Subordinate Voting Shares (representing 0.2% of the issued and outstanding Subordinate Voting Shares). In connection with the Arrangement, Philip Fayer and such entities sold their Shares directly or indirectly to the Purchaser at an implied value of US$34.00 per Share (equivalent to C$47.69) for aggregate cash proceeds of US$75,096,573 and common shares of the Purchaser or an affiliate thereof at an aggregate implied value of US$876,302,102. Following completion of the Arrangement, Philip Fayer and an entity controlled by him became shareholders of the Purchaser’s indirect parent company and no longer beneficially own or control any Shares. Mr. Fayer now indirectly owns or controls approximately 24% of the equity in the resulting private company. Further information and a copy of the early warning report of Philip Fayer may be obtained by contacting:
Chris Mammone
Head of Investor Relations
Nuvei Corporation
310.654.4212
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 50 markets, 150 currencies and 720 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
Forward-Looking Statements
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “Forward-looking information”) within the meaning of applicable securities laws. 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, statements with respect to the delisting of the Subordinate Voting Shares from the Toronto Stock Exchange and from the Nasdaq Global Select Market, the Company ceasing to be a reporting issuer under applicable Canadian securities laws and the deregistration of the Subordinate Voting Shares under the U.S. Securities Exchange Act of 1934, as amended, are Forward-looking information.
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, and although the Forward-looking information contained herein is based upon what management believes are reasonable assumptions, readers are cautioned against placing undue reliance on this information since actual results may vary from the Forward-looking information.
Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond the Company’s 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 possibility that the Subordinate Voting Shares will not be delisted from the Toronto Stock Exchange or the Nasdaq Global Select Market within the timing currently contemplated, that the Subordinate Voting Shares may not be delisted at all, due to failure to satisfy, in a timely manner or otherwise, conditions necessary for the delisting of the Subordinate Voting Shares or for other reasons, and that the Company’s application to cease to be a reporting issuer under applicable Canadian securities laws may not be accepted or may be delayed.
Consequently, all of the Forward-looking information contained herein is qualified by the foregoing cautionary statements. Unless otherwise noted or the context otherwise indicates, the Forward-looking information contained herein represents the Company’s 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, the Company disclaims 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.
For further information please contact:
Investors
Chris Mammone, Head of Investor Relations
Media
Nuvei Corporation has obtained all regulatory approvals to finalize its arrangement with Neon Maple Purchaser Inc., backed by Advent International and Philip Fayer, expected to close by November 15, 2024.
MONTREAL, November 13, 2024 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI)(TSX: NVEI), the Canadian fintech company, announced today that it has received all regulatory approvals required in connection with the closing of the previously-announced plan of arrangement under the Canada Business Corporations Act (the “Arrangement”) involving the Company and Neon Maple Purchaser Inc., an entity formed by Advent International, with the support and participation of Philip Fayer, certain investment funds managed by Novacap Management Inc. and CDPQ. The Company expects that, subject to the satisfaction at closing of the remaining closing conditions, the Arrangement will be completed on or about November 15, 2024.
The Arrangement was approved by Nuvei shareholders at a special meeting of shareholders held on June 18, 2024, and the Company obtained a final order from the Superior Court of Québec (Commercial Division) approving the Arrangement on June 20, 2024.
Further details regarding the Arrangement are provided in the management information circular of the Company dated May 13, 2024, which was mailed to Nuvei shareholders in connection with the Arrangement, a copy of which is available under the Company's profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.
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 50 markets, 150 currencies and 720 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
Forward-Looking Statements
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “Forward-looking information”) within the meaning of applicable securities laws. 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, statements regarding the Arrangement, including the proposed timing of completion of the Arrangement, are Forward-looking information.
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, and although the Forward-looking information contained herein is based upon what management believes are reasonable assumptions, readers are cautioned against placing undue reliance on this information since actual results may vary from the Forward-looking information.
Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond the Company’s 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 the heading “Risk Factors” in the Company's annual information form filed on March 5, 2024, and under the heading “Risk Factors” in the Company's management's discussion and analysis for the nine months ended September 30, 2024. These risks and uncertainties further include (but are not limited to) as concerns the Arrangement, the failure of the parties to satisfy the remaining conditions to the completion of the Arrangement or satisfy such conditions in a timely manner, significant transaction costs or unknown liabilities, failure to realize the expected benefits of the Arrangement, and general economic conditions. Failure to satisfy the remaining conditions to the completion of the Arrangement may result in the Arrangement not being completed on the proposed terms, or at all. In addition, if the Arrangement is not completed, and the Company continues as a publicly-traded entity, there are risks that the announcement of the Arrangement and the dedication of substantial resources of the Company to the completion of the Arrangement could have an impact on its business and strategic relationships (including with future and prospective employees, customers, suppliers and partners), operating results and activities in general, and could have a material adverse effect on its current and future operations, financial condition and prospects. Furthermore, in certain circumstances, the Company may be required to pay a termination fee to the purchaser pursuant to the terms of the arrangement agreement governing the Arrangement, which could have a material adverse effect on its financial position and results of operations and its ability to fund growth prospects and current operations.
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 management anticipates will be realized or, even if substantially realized, that they will have the expected consequences or effects on the Company’s business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the Forward-looking information contained herein represents the Company’s 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, the Company disclaims 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.
For further information please contact:
Investors
Chris Mammone, Head of Investor Relations
Media
Nuvei Announces Third Quarter 2024 Results
MONTREAL, NOVEMBER 12, 2024 – 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, 2024.
“We are pleased to report third quarter financial results that underscore the rapid scaling of our business, with total volume increasing 27% and revenue higher by 17% year-over-year, setting us up well to achieve our targeted growth in the quarters and years ahead as we deliver more differentiated value across our global payment solutions platform,” said Philip Fayer, Nuvei Chair and CEO. “Our business remains highly profitable, with third quarter margins reflecting opportunistic investments to expand our global footprint. As we look to finalize our pending take-private, we are already executing on a highly compelling value creation plan, and we have initiated the process of adding 300-plus new roles across our product, technology, and commercial teams,” concluded Fayer.
Financial Highlights for the Three Months Ended September 30, 2024 Compared to 2023:
Financial Highlights for the Nine Months Ended September 30, 2024 Compared to 2023:
(a) 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 “Non-IFRS and Other Financial Measures”.
(b) Adjusted EBITDA, 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”.
Proposed take private transaction
As previously announced, on April 1, 2024 the Company entered into a definitive arrangement agreement to be taken private by Advent International (“Advent”), one of the world’s largest and most experienced global private equity investors, as well as a longstanding sponsor in the payments space, alongside existing Canadian shareholders Philip Fayer, certain investment funds managed by Novacap Management Inc. and Caisse de dépôt et placement du Québec, in an all-cash transaction which values the Company at an enterprise value of approximately $6.3 billion (the “Proposed transaction”). Advent will acquire all the issued and outstanding Subordinate Voting Shares and any Multiple Voting Shares (collectively the “Shares”) that are not Rollover Shares , for a price of $34.00 per Share, in cash. This price represents an attractive and significant premium of approximately 56% to the closing price of the Subordinate Voting Shares on the Nasdaq Global Select Market (“Nasdaq”) on March 15, 2024, the last trading day prior to media reports concerning a potential transaction involving the Company, and a premium of approximately 48% to the 90-day volume weighted average trading price per Subordinate Voting Share as of such date.
The Proposed transaction will be implemented by way of a statutory plan of arrangement under the Canada Business Corporations Act. The Proposed transaction was approved by shareholders at a special meeting held on June 18, 2024 and received court approval on June 20, 2024. The Proposed transaction remains subject to customary closing conditions, including receipt of key regulatory approvals (a majority of which were received and/or for which the waiting period has expired as of the date hereof, with a limited number of approvals remaining outstanding), is not subject to any financing condition and, assuming the timely receipt of all required key regulatory approvals, is expected to close in the fourth quarter of 2024.
Following completion of the transaction, it is expected that the Subordinate Voting Shares will be delisted from each of the Toronto Stock Exchange and the Nasdaq and that Nuvei will cease to be a reporting issuer in all applicable Canadian jurisdictions and will deregister the Subordinate Voting Shares with the U.S. Securities and Exchange Commission (the “SEC”).
Cash Dividend
Nuvei today announced that its Board of Directors has authorized and declared a cash dividend of $0.10 per Subordinate Voting Share and Multiple Voting Share, payable on December 12, 2024 to shareholders of record on November 26, 2024. The aggregate amount of the dividend is expected to be approximately $14 million, to be funded from the Company’s existing cash on hand. In accordance with the Plan of arrangement, shareholders are entitled to dividends with a record date prior to the effective date of the Proposed transaction. Should the Proposed transaction be completed before the record date, the dividend will not be paid. Accordingly, payment of the dividend will be made on December 12, 2024 if the Proposed transaction is not completed prior to the record date of November 26, 2024.
The Company, for the purposes of the Income Tax Act (Canada) and any similar provincial or territorial legislation, designates the dividend declared for the quarter ended September 30, 2024, and any future dividends, to be eligible dividends. The Company further expects to report such dividends as a dividend to U.S. shareholders for U.S. federal income tax purposes. Subject to applicable limitations, dividends paid to certain non-corporate U.S. shareholders may be eligible for taxation as “qualified dividend income” and therefore may be taxable at rates applicable to long-term capital gains. A U.S. shareholder should talk to its advisor regarding such dividends, including with respect to the “extraordinary dividend” provisions of the Internal Revenue Code (US).
The declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors, as more fully described under the heading “Forward-Looking Information” of this press release.
Conference Call, Financial Outlook and Growth Targets
In light of the Proposed transaction, Nuvei no longer holds earnings conference calls or provides a financial outlook or growth targets.
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 50 markets, 150 currencies and 720 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 condensed interim consolidated financial statements have been prepared in accordance with IFRS applicable to the preparation of interim financial statements, including IAS 34, Interim Financial Reporting, as issued by the IASB. The information presented in this press release includes non-IFRS financial measures, non-IFRS financial ratios and supplementary financial measures, namely Adjusted EBITDA, Adjusted net income, Adjusted net income per basic share, Adjusted net income per diluted share, Adjusted EBITDA less capital expenditures and Total 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 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 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 (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 EBITDA less capital expenditures: We use Adjusted EBITDA less capital expenditures (which we define as acquisition of intangible assets and property and equipment) as a supplementary indicator of our operating performance.
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 financing fees and legal settlement and other.
Non-IFRS Financial Ratios
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, respectively. 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.
Total volume: We believe Total volume is an indicator 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 customers under contractual agreement with us. Total volume does 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 APMs 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 customers, fluctuations in Total volume will generally impact our revenue.
Forward-Looking Information
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “Forward-looking information”) within the meaning of applicable securities laws. Such forward-looking information may include, without limitation, information with respect to our objectives and the strategies to achieve these objectives, as well as information with respect to our beliefs, plans, expectations, anticipations, estimates and intentions. 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, cost savings, synergies and benefits, including with respect to the acquisition of Paya, 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, and expectations regarding our revenue, revenue mix and the revenue generation potential of our solutions and expectations regarding our margins and future profitability, as well as statements regarding the Proposed transaction with Advent International L.P., alongside existing Canadian shareholders Philip Fayer, certain investment funds managed by Novacap Management Inc., and Caisse de dépôt et placement du Québec, including the proposed timing and various steps contemplated in respect of the transaction and statements regarding the plans, objectives, and intentions of Philip Fayer, certain investment funds managed by Novacap Management Inc., Caisse de dépôt et placement du Québec or Advent, are forward-looking information. Economic and geopolitical uncertainties, including regional conflicts and wars, 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, assumptions regarding foreign exchange rate, competition, political environment and economic performance of each region where the Company operates and general economic conditions and the competitive environment within our industry, including the following assumptions: (a) the Company will continue to effectively execute against its key strategic growth priorities, without any material adverse impact from macroeconomic or geopolitical headwinds on its or its customers' business, financial condition, financial performance, liquidity or any significant reduction in demand for its products and services, (b) the economic conditions in our core markets, geographies and verticals, including resulting consumer spending and employment, remaining at close to current levels, (c) assumptions as to foreign exchange rates and interest rates, including inflation, (d) the Company's continued ability to manage its growth effectively, (e) the Company's ability to 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, (f) the Company’s ability to successfully identify, complete, integrate and realize the expected benefits of past and recent acquisitions and manage the associated risks, as well as future acquisitions, (g) the absence of adverse changes in legislative or regulatory matters, (h) the Company’s continued ability to upskill and modify its compliance capabilities as regulations change or as the Company enters new markets or offers new products or services, (i) the Company’s continued ability to access liquidity and capital resources, including its ability to secure debt or equity financing on satisfactory terms, and (j) the absence of adverse changes in current tax laws. 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.
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 ("AIF") and the “Risk Factor’s” in the Company’s management’s discussion and analysis of financial condition and results of operations for the three and nine months ended September 30, 2024 (“MD&A”), such as: risks relating to our business, industry and overall economic uncertainty; the rapid developments and change in our industry; substantial competition both within our industry and from other payments providers; challenges implementing our growth strategy; challenges to expand our product portfolio and market reach; changes in foreign currency exchange rates, interest rates, consumer spending and other macroeconomic factors affecting our customers and our results of operations; challenges in expanding into new geographic regions internationally and continuing our growth within our markets; challenges in retaining existing customers, increasing sales to existing customers and attracting new customers; reliance on third-party partners to distribute some of our products and services; risks associated with future acquisitions, partnerships or joint-ventures; challenges related to economic and political conditions, business cycles and credit risks of our customers, such as wars like the Russia-Ukraine and Middle East conflicts and related economic sanctions; the occurrence of a natural disaster, a widespread health epidemic or pandemic or other similar events; history of net losses and additional significant investments in our business; our level of indebtedness; challenges to secure financing on favorable terms or at all; difficulty to maintain the same rate of revenue growth as our business matures and to evaluate our future prospects; inflation; challenges related to a significant number of our customers being small and medium businesses ("SMBs"); a certain degree of concentration in our customer base and customer sectors; compliance with the requirements of payment networks; reliance on, and compliance with, the requirements of acquiring banks and payment networks; challenges related to the reimbursement of chargebacks from our customers; financial liability related to the inability of our customers (merchants) to fulfill their requirements; our bank accounts being located in multiple territories and relying on banking partners to maintain those accounts; decline in the use of electronic payment methods; loss of key personnel or difficulties hiring qualified personnel; deterioration in relationships with our employees; impairment of a significant portion of intangible assets and goodwill; increasing fees from payment networks; misappropriation of end-user transaction funds by our employees; frauds by customers, 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; deterioration in the quality of the products and services offered; managing our growth effectively; challenges from seasonal fluctuations on our operating results; changes in accounting standards; estimates and assumptions in the application of accounting policies; risks associated with less than full control rights of some of our subsidiaries and investments; challenges related to our holding company structure; impacts of climate change; development of AI and its integration in our operations, as well as risks relating to intellectual property and technology, risks related to data security incidents, including cyber-attacks, computer viruses, or otherwise which may result in a disruption of services or liability exposure; challenges regarding regulatory compliance in the jurisdictions in which we operate, due to complex, conflicting and evolving local laws and regulations and legal proceedings and risks relating to our Subordinate Voting Shares. [These risks and uncertainties further include (but are not limited to) as concerns the Proposed transaction with Advent, the failure of the parties to obtain the necessary regulatory approvals or to otherwise satisfy the conditions to the completion of the transaction, failure of the parties to obtain such approvals or satisfy such conditions in a timely manner, significant transaction costs or unknown liabilities, failure to realize the expected benefits of the transaction, and general economic conditions. Failure to obtain the necessary regulatory approvals, or the failure of the parties to otherwise satisfy the conditions to the completion of the transaction or to complete the transaction, may result in the transaction not being completed on the proposed terms, or at all.] In addition, if the transaction is not completed, and the Company continues as a publicly-traded entity, there are risks that the announcement of the Proposed transaction and the dedication of substantial resources of the Company to the completion of the transaction could have an impact on its business and strategic relationships (including with future and prospective employees, customers, suppliers and partners), operating results and activities in general, and could have a material adverse effect on its current and future operations, financial condition and prospects. Furthermore, in certain circumstances, the Company may be required to pay a termination fee pursuant to the terms of the arrangement agreement which could have a material adverse effect on its financial position and results of operations and its ability to fund growth prospects and current operations.
Our dividend policy is at the discretion of the Board. Any future determination to declare cash dividends on our securities will be made at the discretion of our Board, subject to applicable Canadian laws, and will depend on a number of factors, including our financial condition, results of operations, capital requirements, contractual restrictions (including covenants contained in our credit facilities), general business conditions and other factors that our Board may deem relevant. Further, our ability to pay dividends, as well as make share repurchases, will be subject to applicable laws and contractual restrictions contained in the instruments governing our indebtedness, including our credit facility. Any of the foregoing may have the result of restricting future dividends or share repurchases.
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
Chris Mammone, Head of Investor Relations
(a) These expenses relate to:
(i) professional, legal, consulting, accounting and other fees and expenses related to our acquisition and financing activities, including the expenses related to the Proposed transaction. For the three months and nine months ended September 30, 2024, these expenses were $2.4 million and $16.8 million ($3.4 million and $23.0 million for the three months and nine months ended September 30, 2023). These costs are presented in the professional fees line item of selling, general and administrative expenses.
(ii) acquisition-related compensation was $0.7 million and $2.4 million for the three months and nine months ended September 30, 2024 and $0.6 million and $3.5 million for the three months and nine months ended September 30, 2023. These costs are presented in the employee compensation line item of selling, general and administrative expenses.
(iii) change in deferred purchase consideration for previously acquired businesses. No amount was recognized for the three months and nine months ended September 30, 2024 and 2023. These amounts are presented in the contingent consideration adjustment line item of selling, general and administrative expenses.
(iv) severance and integration expenses, which were $4.6 million and $5.1 million for the three months and nine months ended September 30, 2024 ($1.1 million and $10.6 million for three months and nine months ended September 30, 2023). These expenses are presented in selling, general and administrative expenses and cost of revenue.
(b) These expenses are 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, 2024, the expenses consisted of non-cash share-based payments of $14.9 million and $65.3 million ($34.0 million and $105.5 million for the three months and nine months ended September 30, 2023), $0.5 million and $4.9 million for related payroll taxes ($0.1 million and $0.9 million for the three months and nine months ended September 30, 2023),
(c) This 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. For the nine months ended September 30, 2024, the gain consisted mainly of a gain on business combination of $4.0 million.
(a) 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.
(b) These expenses relate to:
(i) professional, legal, consulting, accounting and other fees and expenses related to our acquisition and financing activities, including the expenses related to the Proposed transaction. For the three months and nine months ended September 30, 2024, these expenses were $2.4 million and $16.8 million ($3.4 million and $23.0 million for the three months and nine months ended September 30, 2023). These costs are presented in the professional fees line item of selling, general and administrative expenses.
(ii) acquisition-related compensation was $0.7 million and $2.4 million for the three months and nine months ended September 30, 2024 and $0.6 million and $3.5 million for the three months and nine months ended September 30, 2023. These costs are presented in the employee compensation line item of selling, general and administrative expenses.
(iii) change in deferred purchase consideration for previously acquired businesses. No amount was recognized for the three months and nine months ended September 30, 2024 and 2023. These amounts are presented in the contingent consideration adjustment line item of selling, general and administrative expenses.
(iv) severance and integration expenses, which were $4.6 million and $5.1 million for the three months and nine months ended September 30, 2024 ($1.1 million and $10.6 million for the three months and nine months ended September 30, 2023). These expenses are presented in selling, general and administrative expenses and cost of revenue.
(c) These expenses are 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, 2024, the expenses consisted of non-cash share-based payments of $14.9 million and $65.3 million ($34.0 million and $105.5 million for the three months and nine months ended September 30, 2023), $0.5 million and $4.9 million for related payroll taxes ($0.1 million and $0.9 million for the three months and nine months ended September 30, 2023).
(d) This 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. For the nine months ended September 30, 2024, the gain consisted mainly of a gain on business combination of $4.0 million.
(e) This line item reflects income tax expense on taxable adjustments using the tax rate of the applicable jurisdiction.
(f) 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.
Nuvei partners with BigCommerce
MONTREAL and AUSTIN, October 22, 2024 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today announced it has partnered with BigCommerce (Nasdaq: BIGC), a leading open SaaS and composable ecommerce platform for fast-growing and established B2C and B2B brands and retailers. This partnership, launching internationally across North America, Europe and APAC, enables BigCommerce customers to access Nuvei's comprehensive suite of omnichannel payment solutions through its Nuvei for Platforms solution, bridging the gap between online and in-store experiences through a single payment processing partner.
Nuvei's offering for BigCommerce customers provides comprehensive transaction processing capabilities, including payment acceptance, pre-authorization, refund management, advanced 3DS2 technology, multi-currency support, stored card processing, and embedded checkout integration. BigCommerce brands and retailers benefit from bank-agnostic fast settlements, access to all the relevant alternative payment methods, centralized payment management, and dedicated integration support. This single, seamless solution empowers businesses to streamline operations, cater to diverse customer preferences, and optimize payment processing costs while ensuring quick access to revenue through same-day or next-day funding.
Philip Fayer, Nuvei's Chair and CEO, commented on the announcement: “We are thrilled to partner with BigCommerce to bring our cutting-edge Nuvei for Platforms payment solutions to their global customer base, beginning in the North American, European and Australian markets. This partnership aligns perfectly with our mission to connect businesses to their customers more deeply through payments, offering tailored solutions that cater to the specific needs of eCommerce businesses that are focused on scaling their business.”
Fayer added: “By combining Nuvei's expertise in unified payment solutions with BigCommerce's robust platform, we're providing customers with the tools they need to succeed in both digital and physical marketplaces.”
Shannon Ingrey, Vice President and General Manager, APAC, at BigCommerce, stated: “Our partnership with Nuvei further illustrates our commitment to providing customers access to the highest-caliber technologies and service providers available in the industry. Nuvei shares our desire to help brands and retailers sell more and grow faster to maximize success, and we look forward to working together to mutually support customers.”
Nuvei For Platforms: Accelerating growth through integrated payments
This partnership is the latest announcement from Nuvei as it continues to strengthen its global reach in the global eCommerce SaaS market, one of the fastest growing subsectors of eCommerce. Nuvei for Platforms, Nuvei’s suite of integrated payments solutions, empowers businesses to accelerate growth and drive revenue by providing them with a fully customizable solution to embed enterprise-grade payments technology into their own platforms. This solution enables platforms to offer complex, high-performance payment solutions that were once only available to large enterprises, now accessible to businesses of all sizes.
About BigCommerce
BigCommerce (Nasdaq: BIGC) is a leading open SaaS and composable ecommerce platform that empowers brands and retailers of all sizes to build, innovate and grow their businesses online. BigCommerce provides its customers sophisticated enterprise-grade functionality, customization and performance with simplicity and ease-of-use. Tens of thousands of B2C and B2B companies across 150 countries and numerous industries rely on BigCommerce, including Burrow, Coldwater Creek, Francesca’s, Harvey Nichols, King Arthur Baking Co., MKM Building Supplies, United Aqua Group and Uplift Desk. For more information, please visit www.bigcommerce.com or follow us on X and LinkedIn.
BigCommerce® is a registered trademark of BigCommerce Pty. Ltd. Third-party trademarks and service marks are the property of their respective owners.
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 50 markets, 150 currencies and 716 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
Investor Relations
JCB International and Nuvei Corporation announce the expansion of their partnership to include Singapore and Hong Kong, enhancing payment solutions for over 158 million JCB cardmembers. This collaboration strengthens Nuvei’s position in the APAC eCommerce market, allowing merchants to seamlessly accept JCB payments. Learn more about this strategic move and its implications for businesses in the region.
TOKYO and MONTREAL, October 8, 2024 – JCB International Co., Ltd. ("JCB"), Japan's only international payment brand, today announced that it has expanded its global partnership with Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, to include Singapore and Hong Kong. This expansion builds upon Nuvei's existing relationship with JCB in Europe, further strengthening Nuvei's position in the rapidly growing Asia-Pacific (APAC) eCommerce market.
Through this enhanced partnership, Nuvei now offers JCB acceptance to its global merchant ecosystem, enabling JCB's community of more than 158 million cardmembers to pay directly to online businesses integrated with Nuvei. This development is particularly significant for Nuvei's customers in the APAC region, including leading eCommerce brands such as Charles & Keith.
Philip Fayer, Nuvei's Chair and CEO, commented on the announcement: "Extending our partnership with JCB to Singapore and Hong Kong enhances our service offering for businesses in strategic APAC markets and demonstrates our commitment to providing comprehensive payment solutions that drive growth for our clients globally."
The expansion of the JCB partnership aligns with Nuvei's ongoing strategic investments in the APAC region. Nuvei is a fully licensed direct local acquirer in Singapore and Hong Kong, and recently obtained a Major Payment Institution (MPI) license in Singapore.
Nuvei's modular payments platform enables clients to securely connect with customers in over 200 markets worldwide through a single integration, accepting 716 alternative payment methods and offering acquiring in over 50 markets. This extensive reach and flexibility are particularly valuable in the context of the rapidly expanding eCommerce markets in Singapore and Hong Kong.
Singapore’s eCommerce market is predicted to grow at a Compound Annual Growth Rate (CAGR) of nearly 10%, with gross merchandise value expected to reach US$23.5 billion by 2027. Hong Kong's eCommerce market is projected to grow at a similar CAGR of nearly 9%, with revenues expected to exceed US$7 billion by 2029.
Hiroko Michishita, Managing Director, JCB International Asia Pacific Pte. Ltd., said, “Between 2021 and 2022, JCB has almost doubled the volume of ecommerce transactions in Singapore. While East Asia is our traditional stronghold, we have seen substantial growth in our ASEAN card base of 132% from 2018 to 2023. Nuvei’s latest expansion into Singapore and Hong Kong complements JCB’s long-term growth strategy. We are confident that Nuvei’s presence in Asia will enable both companies to work closer together and quickly achieve substantial sales volumes.”
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 50 markets, 150 currencies and 716 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
Investor Relations
About JCB
JCB is a major global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 49 million merchants around the world. JCB Cards are now issued mainly in Asian countries and territories, with more than 158 million cardmembers. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase its merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.global.jcb/en/
Contact:
Kosuke Ochiai
Corporate Communications
Tel: +81-3-5778-8353
Email: jcb-pr@info.jcb.co.jp
Discover how Nuvei's latest platform enhancements, including decoupled pay-ins/payouts, split payments, and auto reconciliation, empower businesses like marketplaces, ISVs, and payment facilitators to optimize payments and drive revenue globally.
MONTREAL, September 24 2024 – Nuvei Corporation ("Nuvei" or the "Company") (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today announced the launch of several new features and enhancements for its Nuvei for Platforms product.
Nuvei for Platforms is designed to accelerate growth and drive revenue for various business models, including marketplaces, commerce platforms, the gig economy, payment facilitators, and independent software vendors (ISVs). Through a single integration, businesses can customize Nuvei's comprehensive suite of payments technology, including merchant onboarding, pay-ins and payouts, optimization, orchestration, fraud prevention, and risk management.
Highlights of Nuvei for Platforms’ new features and enhancements include:
Decoupled pay-ins and payouts to provide greater flexibility in managing cash flow, optimize currency conversions, and tailor payment strategies to specific market needs. Businesses can also expand their geographic reach for payment acceptance, choosing from over 700 local and alternative payment methods. Nuvei for Platforms currently supports decoupled pay-ins and payouts in the UK and EU, with global expansion to follow.
Split Payments: Nuvei's split payments feature streamlines operations by automatically splitting each processed transaction into the platform's commission and the seller's fee, ensuring PSD2 compliance. It also enables seamless multi-seller management and simplifies regulatory compliance by keeping the platform out of the money flow.
Auto Reconciliation: Nuvei's auto reconciliation capabilities consolidate multiple incoming payment flows into a single payout to the seller or platform, simplifying accounting and operations.
Balance Management: New features include the ability to transfer funds between marketplace and seller accounts, allowing platforms to charge for corrections or monthly fees.
Seller Invoicing: Nuvei’s seller invoicing feature has been updated to offer enhanced customization and white-label options, allowing businesses to tailor invoices to their brand identity and specific operational needs.
Amidst the digital transformation of the global commerce landscape, the Embedded Payments market is poised for continued rapid growth, translating into substantial revenue opportunities for Nuvei via its Nuvei for Platforms product suite. The market, valued at approximately USD $83bn in 2023, is projected to expand at a compound annual growth rate of greater than 30%, reaching an estimated $730bn by 2032.
"Our mission is to empower businesses to connect more deeply with their customers through innovative payments solutions. This new functionality is a testament to that commitment," said Philip Fayer, Nuvei's Chair and CEO. "By enhancing the embedded payments capabilities of our platform, we're enabling our customers – from marketplaces and commerce platforms to payment facilitators and software providers – to offer a seamless, customized payments experience that unlocks new growth opportunities."
Marketplace payments are experiencing rapid growth, driven by the surge in eCommerce adoption and the international expansion of many of the globe’s leading online marketplaces. Marketplaces are now the single largest source of online consumer purchases, with estimates ranging from 40-60% of all consumer payments taking place via a marketplace platform. The relevance of marketplaces will continue to grow, with Gross Merchandise Value reaching an estimated $3.8tn for the top 100 global marketplaces in 2024.
By leveraging Nuvei's cutting-edge solutions, businesses can unlock new revenue streams and capitalize on the booming marketplace economy. The flexibility and control provided by the decoupled pay-in and payout processes, along with the availability of localized payment methods, position Nuvei as a key strategic partner in driving marketplace success.
In conjunction with introducing these new product enhancements to its Nuvei for Platforms offering, Nuvei recently acquired marketplace technology provider Payaut and is excited to welcome its expert team that brings even more specialized knowledge to support our ongoing commitment to innovation in the payments space.
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 50 markets, 150 currencies and 716 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
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Investor Relations
Discover Nuvei’s 2023 ESG Report detailing advancements in corporate governance, gender equality, environmental impact, and team member engagement. Learn more about the company's ongoing commitment to transparency, accountability, and sustainability.
MONTREAL, September 5 2024 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that it has published its third annual ESG Report for 2023.
The report details Nuvei’s ongoing achievements across the key pillars of its ESG strategy and highlights the various ways Nuvei continues to deliver on its vision of being a people-first, technology-led global payments platform.
“Sound corporate governance, strong information security procedures, team member well-being, positive community contributions, and environmental stewardship have been cornerstones of our culture since our inception more than 20 years ago,” said Philip Fayer, Chair and CEO of Nuvei. “We remain committed to an ESG journey that relies on continuous improvement in our transparency, accountability, and results.”
A selection of Nuvei’s 2023 ESG achievements detailed in the report include:
Data in this report has been aligned with the Sustainability Accounting Standards (SASB) Technology and Communications standards for the Software and IT Services Industry and the United Nations Sustainable Development Goals (UNSDGs)
The full report is available to read and download online here.
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 50 markets, 150 currencies and 716 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
Public Relations
Investor Relations
Nuvei Corporation (Nasdaq: NVEI) partners with Scanco Software to enhance the i2PAY solution, integrating advanced payment processing and ERP capabilities to streamline operations, improve cash flow, and support international expansion for manufacturing and distribution sectors.
MONTREAL and NOKOMIS, Florida, August 8 2024 – Nuvei Corporation (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today announces its partnership with Scanco Software, LLC ("Scanco"), a leading provider of innovative software solutions for the manufacturing and distribution industries, to enhance Scanco’s new Invoice2Payment (i2PAY) solution.
i2PAY complements Scanco’s existing warehouse management capabilities with payments features including online payment processing, email receipts, automated deposits, and advanced analytics. Collaborating with Nuvei enables Scanco customers to access a market-leading suite of payment solutions, including Card-Not-Present and ACH processing capabilities, integrated directly into Scanco customers' enterprise resource planning (ERP) systems, including Sage, to facilitate simplified workflows, increase back-office efficiencies, and shorten invoice-to-cash cycles.
Nuvei's ERP payments engine delivers seamlessly integrated payment acceptance and disbursement solutions to its customers, as well as single-view visibility of data and insights needed to make faster, better-informed decisions. By leveraging Nuvei's deep ERP payments expertise, and delivering near-real-time payment information, Scanco customers will be able to reconcile financial information across systems and improve visibility more efficiently.
The partnership helps Scanco facilitate its aspirations to develop an Autonomous Supply Chain platform across eCommerce, Distributed Order Management, Warehouse Management Systems and Production and Shipping. Also, by utilizing Nuvei's global reach Scanco will achieve its future international expansion plans.
Philip Fayer, Nuvei Chair and CEO, commented on the announcement:
By integrating our advanced B2B payment capabilities with Scanco's innovative software, we're enabling businesses to streamline their operations, improve cash flow, and make more informed financial decisions.
Andy Nunez, President & CEO of Scanco, added:
Partnering with Nuvei allows us to offer our customers a comprehensive payment solution in i2PAY that addresses the critical payment requirements of our customers. The integration of Nuvei's payment technologies with our mobility solutions will provide unparalleled efficiency and visibility for businesses operating in warehouse and manufacturing environments.
This partnership marks a significant step for Nuvei in increasing its integrated distribution and solidifying its presence as the provider of payment solutions to manufacturing and distribution customers in this rapidly growing sector.
About Scanco
Over the years, Scanco Software, LLC (www.scanco.com) has been at the forefront of developing new technologies for mobile warehouse, manufacturing, and payment automation solutions. Scanco's solutions deliver unequaled efficiency and visibility for distribution and manufacturing companies around the globe.
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 50 markets, 150 currencies and 716 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
Investor Relations
Nuvei today reported its financial results for the three and six months ended June 30, 2024.
Nuvei reports in U.S. dollars and in accordance with International Financial Reporting Standards (“IFRS”)
MONTREAL, AUGUST 6, 2024 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today reported its financial results for the three and six months ended June 30, 2024.
Financial Highlights for the Three Months Ended June 30, 2024 Compared to 2023:
Financial Highlights for the Six Months Ended June 30, 2024 Compared to 2023:
(a) 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 “Non-IFRS and Other Financial Measures”.
(b) Adjusted EBITDA, Adjusted EBITDA margin, 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”.
Proposed take private transaction
As previously announced, on April 1, 2024 the Company entered into a definitive arrangement agreement to be taken private by Advent International (“Advent”), one of the world’s largest and most experienced global private equity investors, as well as a longstanding sponsor in the payments space, alongside existing Canadian shareholders Philip Fayer, certain investment funds managed by Novacap Management Inc. and Caisse de dépôt et placement du Québec, in an all-cash transaction which values the Company at an enterprise value of approximately $6.3 billion (the “Proposed transaction”). Advent will acquire all the issued and outstanding Subordinate Voting Shares and any Multiple Voting Shares (collectively the “Shares”) that are not Rollover Shares , for a price of $34.00 per Share, in cash. This price represents an attractive and significant premium of approximately 56% to the closing price of the Subordinate Voting Shares on the Nasdaq Global Select Market (“Nasdaq”) on March 15, 2024, the last trading day prior to media reports concerning a potential transaction involving the Company, and a premium of approximately 48% to the 90-day volume weighted average trading price per Subordinate Voting Share as of such date.
The Proposed transaction will be implemented by way of a statutory plan of arrangement under the Canada Business Corporations Act. The Proposed transaction was approved by shareholders at a special meeting held on June 18, 2024 and received court approval on June 20, 2024. The proposed transaction remains subject to customary closing conditions, including receipt of key regulatory approvals (a number of which were received and/or for which the waiting period has expired as of the date hereof, with several approvals remaining outstanding), is not subject to any financing condition and, assuming the timely receipt of all required key regulatory approvals, is expected to close in late 2024 or the first quarter of 2025.
Following completion of the transaction, it is expected that the Subordinate Voting Shares will be delisted from each of the Toronto Stock Exchange and the Nasdaq and that Nuvei will cease to be a reporting issuer in all applicable Canadian jurisdictions and will deregister the Subordinate Voting Shares with the U.S. Securities and Exchange Commission (the “SEC”).
Cash Dividend
Nuvei today announced that its Board of Directors has authorized and declared a cash dividend of $0.10 per Subordinate Voting Share and Multiple Voting Share, payable on September 5, 2024 to shareholders of record on August 20, 2024. The aggregate amount of the dividend is expected to be approximately $14 million, to be funded from the Company’s existing cash on hand.
The Company, for the purposes of the Income Tax Act (Canada) and any similar provincial or territorial legislation, designates the dividend declared for the quarter ended June 30, 2024, and any future dividends, to be eligible dividends. The Company further expects to report such dividends as a dividend to U.S. shareholders for U.S. federal income tax purposes. Subject to applicable limitations, dividends paid to certain non-corporate U.S. shareholders may be eligible for taxation as “qualified dividend income” and therefore may be taxable at rates applicable to long-term capital gains. A U.S. shareholder should talk to its advisor regarding such dividends, including with respect to the “extraordinary dividend” provisions of the Internal Revenue Code (US).
The declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors, as more fully described under the heading “Forward-Looking Information” of this press release.
Conference Call, Financial Outlook and Growth Targets
In light of the Proposed transaction, Nuvei no longer holds earnings conference calls or provides its financial outlook or growth targets.
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 50 markets, 150 currencies and 716 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 condensed interim consolidated financial statements have been prepared in accordance with IFRS applicable to the preparation of interim financial statements, including IAS 34, Interim Financial Reporting, as issued by the IASB. The information presented in this press release includes non-IFRS financial measures, non-IFRS financial ratios and supplementary financial measures, namely Adjusted EBITDA, Adjusted net income, Adjusted net income per basic share, Adjusted net income per diluted share, Adjusted EBITDA less capital expenditures and Total 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 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 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 (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 EBITDA less capital expenditures: We use Adjusted EBITDA less capital expenditures (which we define as acquisition of intangible assets and property and equipment) as a supplementary indicator of our operating performance.
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 financing fees and legal settlement and other.
Non-IFRS Financial Ratios
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, respectively. 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.
Total volume: We believe Total volume is an indicator 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 customers under contractual agreement with us. Total volume does 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 APMs 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 customers, fluctuations in Total volume will generally impact our revenue.
Forward-Looking Information
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “Forward-looking information”) within the meaning of applicable securities laws. Such forward-looking information may include, without limitation, information with respect to our objectives and the strategies to achieve these objectives, as well as information with respect to our beliefs, plans, expectations, anticipations, estimates and intentions. 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, cost savings, synergies and benefits, including with respect to the acquisition of Paya, 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, and expectations regarding our revenue, revenue mix and the revenue generation potential of our solutions and expectations regarding our margins and future profitability, as well as statements regarding the Proposed transaction with Advent International L.P., alongside existing Canadian shareholders Philip Fayer, certain investment funds managed by Novacap Management Inc., and Caisse de dépôt et placement du Québec, including the proposed timing and various steps contemplated in respect of the transaction and statements regarding the plans, objectives, and intentions of Philip Fayer, certain investment funds managed by Novacap Management Inc., Caisse de dépôt et placement du Québec or Advent, are forward-looking information. Economic and geopolitical uncertainties, including regional conflicts and wars, 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, assumptions regarding foreign exchange rate, competition, political environment and economic performance of each region where the Company operates and general economic conditions and the competitive environment within our industry, including the following assumptions: (a) the Company will continue to effectively execute against its key strategic growth priorities, without any material adverse impact from macroeconomic or geopolitical headwinds on its or its customers' business, financial condition, financial performance, liquidity or any significant reduction in demand for its products and services, (b) the economic conditions in our core markets, geographies and verticals, including resulting consumer spending and employment, remaining at close to current levels, (c) assumptions as to foreign exchange rates and interest rates, including inflation, (d) the Company's continued ability to manage its growth effectively, (e) the Company's ability to 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, (f) the Company’s ability to successfully identify, complete, integrate and realize the expected benefits of past and recent acquisitions and manage the associated risks, as well as future acquisitions, (g) the absence of adverse changes in legislative or regulatory matters, (h) the Company’s continued ability to upskill and modify its compliance capabilities as regulations change or as the Company enters new markets or offers new products or services, (i) the Company’s continued ability to access liquidity and capital resources, including its ability to secure debt or equity financing on satisfactory terms, and (j) the absence of adverse changes in current tax laws. 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.
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 ("AIF") and the “Risk Factor’s” in the Company’s management’s discussion and analysis of financial condition and results of operations for the three months ended June 30, 2024 (“MD&A”), such as: risks relating to our business, industry and overall economic uncertainty; the rapid developments and change in our industry; substantial competition both within our industry and from other payments providers; challenges implementing our growth strategy; challenges to expand our product portfolio and market reach; changes in foreign currency exchange rates, interest rates, consumer spending and other macroeconomic factors affecting our customers and our results of operations; challenges in expanding into new geographic regions internationally and continuing our growth within our markets; challenges in retaining existing customers, increasing sales to existing customers and attracting new customers; reliance on third-party partners to distribute some of our products and services; risks associated with future acquisitions, partnerships or joint-ventures; challenges related to economic and political conditions, business cycles and credit risks of our customers, such as wars like the Russia-Ukraine and Middle East conflicts and related economic sanctions; the occurrence of a natural disaster, a widespread health epidemic or pandemic or other similar events; history of net losses and additional significant investments in our business; our level of indebtedness; challenges to secure financing on favorable terms or at all; difficulty to maintain the same rate of revenue growth as our business matures and to evaluate our future prospects; inflation; challenges related to a significant number of our customers being small and medium businesses ("SMBs"); a certain degree of concentration in our customer base and customer sectors; compliance with the requirements of payment networks; reliance on, and compliance with, the requirements of acquiring banks and payment networks; challenges related to the reimbursement of chargebacks from our customers; financial liability related to the inability of our customers (merchants) to fulfill their requirements; our bank accounts being located in multiple territories and relying on banking partners to maintain those accounts; decline in the use of electronic payment methods; loss of key personnel or difficulties hiring qualified personnel; deterioration in relationships with our employees; impairment of a significant portion of intangible assets and goodwill; increasing fees from payment networks; misappropriation of end-user transaction funds by our employees; frauds by customers, 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; deterioration in the quality of the products and services offered; managing our growth effectively; challenges from seasonal fluctuations on our operating results; changes in accounting standards; estimates and assumptions in the application of accounting policies; risks associated with less than full control rights of some of our subsidiaries and investments; challenges related to our holding company structure; impacts of climate change; development of AI and its integration in our operations, as well as risks relating to intellectual property and technology, risks related to data security incidents, including cyber-attacks, computer viruses, or otherwise which may result in a disruption of services or liability exposure; challenges regarding regulatory compliance in the jurisdictions in which we operate, due to complex, conflicting and evolving local laws and regulations and legal proceedings and risks relating to our Subordinate Voting Shares. These risks and uncertainties further include (but are not limited to) as concerns the Proposed transaction with Advent, the failure of the parties to obtain the necessary regulatory approvals or to otherwise satisfy the conditions to the completion of the transaction, failure of the parties to obtain such approvals or satisfy such conditions in a timely manner, significant transaction costs or unknown liabilities, failure to realize the expected benefits of the transaction, and general economic conditions. Failure to obtain the necessary shareholder, regulatory and court approvals, or the failure of the parties to otherwise satisfy the conditions to the completion of the transaction or to complete the transaction, may result in the transaction not being completed on the proposed terms, or at all. In addition, if the transaction is not completed, and the Company continues as a publicly-traded entity, there are risks that the announcement of the Proposed transaction and the dedication of substantial resources of the Company to the completion of the transaction could have an impact on its business and strategic relationships (including with future and prospective employees, customers, suppliers and partners), operating results and activities in general, and could have a material adverse effect on its current and future operations, financial condition and prospects. Furthermore, in certain circumstances, the Company may be required to pay a termination fee pursuant to the terms of the arrangement agreement which could have a material adverse effect on its financial position and results of operations and its ability to fund growth prospects and current operations.
Our dividend policy is at the discretion of the Board. Any future determination to declare cash dividends on our securities will be made at the discretion of our Board, subject to applicable Canadian laws, and will depend on a number of factors, including our financial condition, results of operations, capital requirements, contractual restrictions (including covenants contained in our credit facilities), general business conditions and other factors that our Board may deem relevant. Further, our ability to pay dividends, as well as make share repurchases, will be subject to applicable laws and contractual restrictions contained in the instruments governing our indebtedness, including our credit facility. Any of the foregoing may have the result of restricting future dividends or share repurchases.
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.
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Chris Mammone, Head of Investor Relations
(a) These expenses relate to:
(i) professional, legal, consulting, accounting and other fees and expenses related to our acquisition and financing activities, including the expenses related to the Proposed transaction. For the three months and six months ended June 30, 2024, these expenses were $4.2 million and $14.5 million ($1.1 million and $19.6 million for the three months and six months ended June 30, 2023). These costs are presented in the professional fees line item of selling, general and administrative expenses.
(ii) acquisition-related compensation was $0.6 million and $1.7 million for the three months and six months ended June 30, 2024 and $0.7 million and $2.8 million for the three months and six months ended June 30, 2023. These costs are presented in the employee compensation line item of selling, general and administrative expenses.
(iii) change in deferred purchase consideration for previously acquired businesses. No amount was recognized for the three months and six months ended June 30, 2024 and 2023. These amounts are presented in the contingent consideration adjustment line item of selling, general and administrative expenses.
(iv) severance and integration expenses, which were $0.2 million and $0.5 million for the three months and six months ended June 30, 2024 ($4.8 million and $9.5 million for three months and six months ended June 30, 2023). These expenses are presented in selling, general and administrative expenses and cost of revenue.
(b) These expenses are 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 six months ended June 30, 2024, the expenses consisted of non-cash share-based payments of $20.6 million and $50.4 million ($35.9 million and $71.4 million for the three months and six months ended June 30, 2023), $4.1 million and $4.3 million for related payroll taxes ($0.4 million and $0.9 million for the three months and six months ended June 30, 2023),
(c) This 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. For the six months ended June 30, 2024, the gain consisted mainly of a gain on business combination of $4.0 million.
(a) 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.
(b) These expenses relate to:
(i) professional, legal, consulting, accounting and other fees and expenses related to our acquisition and financing activities, including the expenses related to the Proposed transaction. For the three months and six months ended June 30, 2024, these expenses were $4.2 million and $14.5 million ($1.1 million and $19.6 million for the three months and six months ended June 30, 2023). These costs are presented in the professional fees line item of selling, general and administrative expenses.
(ii) acquisition-related compensation was $0.6 million and $1.7 million for the three months and six months ended June 30, 2024 and $0.7 million and $2.8 million for the three months and six months ended June 30, 2023. These costs are presented in the employee compensation line item of selling, general and administrative expenses.
(iii) change in deferred purchase consideration for previously acquired businesses. No amount was recognized for the three months and six months ended June 30, 2024 and 2023. These amounts are presented in the contingent consideration adjustment line item of selling, general and administrative expenses.
(iv) severance and integration expenses, which were $0.2 million and $0.5 million for the three months and six months ended June 30, 2024 ($4.8 million and $9.5 million for the three months and six months ended June 30, 2023). These expenses are presented in selling, general and administrative expenses and cost of revenue.
(c) These expenses are 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 six months ended June 30, 2024, the expenses consisted of non-cash share-based payments of $20.6 million and $50.4 million ($35.9 million and $71.4 million for the three months and six months ended June 30, 2023), $4.1 million and $4.3 million for related payroll taxes ($0.4 million and $0.9 million for the three months and six months ended June 30, 2023).
(d) This 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. For the three months ended June 30, 2024, the gain consisted mainly of a gain on business combination of $4.0 million.
(e) This line item reflects income tax expense on taxable adjustments using the tax rate of the applicable jurisdiction.
(f) 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.
[1] Philip Fayer, Novacap and CDPQ (together with entities they control directly or indirectly, collectively, the "Rollover Shareholders") have agreed to roll approximately 95%, 65% and 75%, respectively, of their Shares (the "Rollover Shares") and are expected to receive in aggregate approximately US$560 million in cash for the Shares sold on closing. Philip Fayer, Novacap and CDPQ are expected to indirectly own or control approximately 24%, 18% and 12%, respectively, of the equity in the resulting private company. Percentages and amount of expected cash proceeds are based on current assumed cash position and are subject to change as a result of cash generated before closing.
Nuvei Corporation (Nasdaq: NVEI, TSX: NVEI) announces the acquisition of Pay2All, enhancing its payment capabilities in Brazil. This strategic move strengthens Nuvei's presence in the LATAM region and supports the growing iGaming and eCommerce markets.
MONTREAL, August 5 2024 – Nuvei Corporation ("Nuvei" or the "Company") (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today announces that it has entered into a definitive agreement to acquire Pay2All Instituição de Pagamento Ltda. (“Pay2All”), a licensed Payment Institution authorized by the Central Bank of Brazil. This strategic milestone is expected to enhance Nuvei's capabilities in the Brazilian market and reinforces its commitment to the Latin American (LATAM) region.
The Payment Institution license will enable Nuvei to offer comprehensive payment services in Brazil as an Issuer of Electronic Currency. These include accepting payments, managing e-wallets and betting accounts, and participating in all of Brazil's local payment systems, including processing Pagamentos Instantâneos (“PIX”) transactions.
A Payment Institution license is required to provide transactional services for authorized operators in the newly regulated market of sports betting and online gaming, in accordance with Law No. 14.790/23. Brazil's iGaming market presents significant growth opportunities for Nuvei. Revenue in the Brazilian iGaming market is projected to reach US$1.97bn in 2024 and is predicted to show an annual growth rate (CAGR 2024-2029) of 15.39%, resulting in a projected market volume of US$4.03bn by 2029.
By securing a Payment Institution license, Nuvei will be well positioned as a payment partner of choice to the iGaming and broader eCommerce ecosystems in Brazil. The proposed transaction is subject to customary closing conditions, including receipt of key regulatory approvals by the Central Bank of Brazil and local antitrust authorities.
Philip Fayer, Nuvei Chair and CEO, commented on the announcement: "Securing a Payment Institution license in Brazil has been a top priority, and will mark another significant milestone in our global expansion strategy. The proposed transaction not only strengthens our presence in LATAM but also demonstrates our commitment to providing fully localized and modern payment solutions to businesses in Brazil. We're excited to offer our full suite of services to help drive growth for the rapidly-growing eCommerce and iGaming operators in this dynamic market."
In 2024, Nuvei already signaled its commitment to growth in LATAM through its announcement that it was the first global payments company to offer direct local acquiring in Colombia. In addition to securing its impending Payment Institution license in Brazil, Nuvei is also currently implementing a local acquiring service in Mexico, leading to the fulfilment of processing requirements to become a direct acquirer under the Comisión Nacional Bancaria y de Valores (CNBV). Further strategic expansion in LATAM is scheduled to follow.
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 50 markets, 150 currencies and 700 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
Forward-Looking Statements
This press release contains "forward-looking information" and "forward-looking statements" (collectively, "Forward-looking information") within the meaning of applicable securities laws. 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, statements regarding the obtaining of the Payment Institution license and the anticipated impacts thereof are forward-looking information. 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 and 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 the heading "Risk Factors" in the Company's annual information form filed on March 5, 2024, and under the heading "Risk Factors" in the Company's management's discussion and analysis for the three months ended March 31, 2024.
Contact:
Public Relations
Investor Relations
MONTREAL, July 24, 2024 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today announced it will release its second quarter 2024 results after market close on August 6, 2024.
On April 1, 2024, Nuvei announced that it entered into a definitive arrangement agreement to be taken private by Advent International, alongside existing Canadian shareholders Philip Fayer, Novacap, and CDPQ for US$34.00 per share via an all cash transaction, which values the Company at an enterprise value of approximately US$6.3 billion. In light of the announced transaction, Nuvei will not host a conference call or webcast to review the second quarter 2024 financial results.
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 50 markets, 150 currencies and 700 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.
Nuvei Investor Contact:
Chris Mammone, Head of Investor Relations
Consumers are able to seamlessly convert assets such as cryptocurrencies into fiat funds
MONTREAL and LONDON – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today a partnership with Mastercard to launch a new off-ramping solution that enables consumers in Europe to seamlessly convert their Digital Assets, including cryptocurrencies, into traditional fiat currency via debit, credit and prepaid cards. This new functionality provides a bridge between digital and traditional finance that can be spent via Mastercard's global network. This off-ramping solution is integrated directly into Nuvei's modular payment platform, delivering a simple, secure user experience.
The off-ramping process is designed to be rapid and user-friendly. Consumers can seamlessly convert a wide range of supported Digital Assets into fiat currency. They can then transfer the funds to their eligible Mastercard in near real-time*, leveraging Mastercard Move’s money movement capabilities. No longer requiring third-party exchanges or money service businesses, this integrated solution simplifies transforming digital value into global spending circulation.
“We're excited to collaborate with Mastercard to accommodate access liquidity and payments for Digital Asset holders,” commented Philip Fayer, Chair and CEO of Nuvei. “Our mission is to enable businesses and their customers to connect through payments, wherever consumers are and however they want to pay. Offering crypto off-ramps through our single integration aligns perfectly with this mission to facilitate frictionless transactions across the digital economy.”
“Enabling choice how consumers can engage in Digital Assets in a safe, simple and secure manner in line with all relevant regulation is at the heart of our strategy in this space” added Christian Rau, Senior Vice President, Fintech and Crypto Enablement, Mastercard Europe. “Combining our global network of partners and digital solutions with Nuvei's advanced integration opens new opportunities and choice for businesses engaging in digital assets and consumers alike.”
Nuvei's off-ramp solution with Mastercard is the latest example of its strategy to connect the worlds of traditional payments, open banking and blockchain technology into one seamless experience.
*Actual posting times for approved transactions will depend on the receiving financial institution
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 50 markets, 150 currencies and 700 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
Investor Relations
Extends Nuvei’s local acquiring footprint into MENA and reaffirms overall commitment to the thriving region
MONTREAL, June25 2024 – Nuvei Corporation ("Nuvei" orthe "Company") (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today announced that it has secured an in-principle approval for a Retail Services Category II License from the Central Bank of the UAE, representing an important strategic expansion into the United Arab Emirates (UAE) and fortifying its global presence and commitment to the Middle East and North Africa (MENA) region.
The UAE is a crucial market for Nuvei's global customers due to its rapidly growing eCommerce sector, which is projected to surpass $10 billion in revenue by 2029 with an annual growth rate (CAGR 2024-2029) of approximately 9%[1].
The Retail Services Category II License enables Nuvei to offer its comprehensive suite of payments technology to businesses operating in the thriving UAE market, including direct local acquiring, payment aggregation services, and domestic and cross-border fund transfers. Through direct local acquiring, Nuvei gains greater control over the payment life cycle, ensuring further optimized payment acceptance rates and lower processing costs for its customers.
Nuvei already has a strong commercial presence and existing high-profile partnerships in the region. This expansion across the MENA region reaffirms Nuvei's commitment to supporting its customers' growth both locally and internationally.
Philip Fayer, Nuvei's Chair and CEO, commented on the announcement: “Our mission is to connect our customers to their customers more deeply through payments, wherever those customers are and however they want to pay. Expanding our global licenses portfolio has been a key focus in this regard, and we can now offer the full power of our payment platform to support the growth aspirations of businesses operating in the UAE.”
Fayer added: “We extend our gratitude to the Central Bank of the UAE for its in-principle approval of our Retail Payment Services License and facilitating this opportunity. We’re thrilled to be on the cusp of launching our best-in-class services, including direct local acquiring, in such a fast-growing digital eCommerce market.”
This announcement is the latest from Nuvei as it continues to strengthen its global reach, including extending its local acquiring capabilities in more than 50 countries.In 2024 Nuvei has already announced that it had secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore, and that it is the first global payments company to offer local direct acquiring in Colombia.
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 50 markets, 150 currencies and 700 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
Investor Relations
[1] https://www.statista.com/outlook/emo/ecommerce/united-arab-emirates
Nuvei Corporation announces final court approval for its going private transaction with Advent International. Shareholder and regulatory approvals are in progress, with completion expected by early 2025.
MONTREAL, June 20, 2024 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI)(TSX: NVEI), the Canadian fintech company, announced today that the Company has obtained a final order from the Superior Court of Québec (Commercial Division) approving the previously-announced plan of arrangement under section 192 of the Canada Business Corporations Act (the "Arrangement") involving the Company and Neon Maple Purchaser Inc., a newly-formed entity controlled by Advent International, L.P. This final court approval follows the shareholder approval that was obtained at the special meeting of Nuvei’s shareholders held on Tuesday, June 18, 2024.
The Arrangement remains subject to the satisfaction or waiver of certain other closing conditions customary in a transaction of this nature, including the receipt of key regulatory approvals. Assuming that these remaining conditions to closing are satisfied, the Arrangement is expected to be completed in late 2024 or in the first quarter of 2025.
Further details regarding the Arrangement are provided in the management information circular of the Company dated May 13, 2024, mailed to Nuvei shareholders in connection with the Arrangement, a copy of which is available under the Company's profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.
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 50 markets, 150 currencies and 700 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
This press release contains "forward-looking information" and "forward-looking statements" (collectively, "Forward-looking information") within the meaning of applicable securities laws. 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, statements regarding the Arrangement, including the proposed timing and various steps contemplated in respect of the Arrangement are forward-looking information.
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, and 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.
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 the heading "Risk Factors" in the Company's annual information form filed on March 5, 2024, and under the heading "Risk Factors" in the Company's management's discussion and analysis for the three months ended March 31, 2024. These risks and uncertainties further include (but are not limited to) as concerns the Arrangement, the failure of the parties to obtain the necessary regulatory approvals or to otherwise satisfy the conditions to the completion of the Arrangement, failure of the parties to obtain such approvals or satisfy such conditions in a timely manner, significant transaction costs or unknown liabilities, failure to realize the expected benefits of the Arrangement, and general economic conditions. Failure to obtain the necessary regulatory approvals, or the failure of the parties to otherwise satisfy the conditions to the completion of the Arrangement or to complete the Arrangement, may result in the Arrangement not being completed on the proposed terms, or at all. In addition, if the Arrangement is not completed, and the Company continues as a publicly-traded entity, there are risks that the announcement of the Arrangement and the dedication of substantial resources of the Company to the completion of the Arrangement could have an impact on its business and strategic relationships (including with future and prospective employees, customers, suppliers and partners), operating results and activities in general, and could have a material adverse effect on its current and future operations, financial condition and prospects. Furthermore, in certain circumstances, the Company may be required to pay a termination fee pursuant to the terms of the Arrangement Agreement which could have a material adverse effect on its financial position and results of operations and its ability to fund growth prospects and current operations.
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.
Investors
Kingsdale Advisors
contactus@kingsdaleadvisors.com
Chris Mammone, Head of Investor Relations
Media
Joel Shaffer
FGS Longview
Nuvei shareholders approve going private with Advent International. Completion expected by early 2025.
Montréal, June 18, 2024 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI)(TSX: NVEI), the Canadian fintech company, is pleased to announce that, at the special meeting (the “Meeting”) of the Company’s shareholders (the “Shareholders”) held on June 18, 2024, Shareholders approved the special resolution (the “Arrangement Resolution”) approving the previously-announced plan of arrangement under section 192 of the Canada Business Corporations Act (the "Arrangement") involving the Company and Neon Maple Purchaser Inc. (the “Purchaser”), a newly-formed entity controlled by Advent International, L.P. Pursuant to the Arrangement, the Purchaser will acquire all of the issued and outstanding subordinate voting shares ("Subordinate Voting Shares") and multiple voting shares ("Multiple Voting Shares" and collectively with the Subordinate Voting Shares, the "Shares") of the Company. The Shares that are not held by Philip Fayer, certain investment funds managed by Novacap Management Inc. (collectively, "Novacap") and Caisse de dépôt et placement du Québec ("CDPQ" and, collectively with Philip Fayer and Novacap and the entities they control directly or indirectly, the "Rollover Shareholders") will be acquired for a price of US$34.00 in cash per Share.
Each of the Rollover Shareholders has agreed to sell all of their Shares to the Purchaser in exchange for consideration consisting of a combination of cash and shares in the capital of the Purchaser or an affiliate thereof. Following completion of the Arrangement, Philip Fayer, Novacap and CDPQ are expected to hold or exercise control or direction over, directly or indirectly, approximately 24%, 18% and 12%, respectively, of the common equity in the resulting private company.
Further details regarding the Arrangement are provided in the management information circular of the Company dated May 13, 2024 (the "Circular") mailed to Nuvei shareholders in connection with the Arrangement, a copy of which is available under the Company's profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.
The Arrangement Resolution was adopted on a vote by way of ballot by (i) at least two-thirds of the votes cast by the holders of Multiple Voting Shares and Subordinate Voting Shares virtually present or represented by proxy at the Meeting, voting together as a single class (with each Subordinate Voting Share being entitled to one vote and each Multiple Voting Share being entitled to ten votes); (ii) not less than a simple majority (more than 50%) of the votes cast by the holders of Subordinate Voting Shares virtually present or represented by proxy at the Meeting; (iii) not less than a simple majority of the votes cast by the holders of Multiple Voting Shares virtually present or represented by proxy at the Meeting; and (iv) not less than a simple majority of the votes cast by the holders of Subordinate Voting Shares virtually present or represented by proxy at the Meeting (excluding the Subordinate Voting Shares held by the Rollover Shareholders and the persons required to be excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”)). In its interim order dated May 13, 2024, the Superior Court of Québec (Commercial Division) (the “Court”) declared that the vote of not less than a simple majority of the votes cast by the holders of Multiple Voting Shares virtually present or represented by proxy at the Meeting (excluding the Multiple Voting Shares held by the Rollover Shareholders and the persons required to be excluded pursuant to MI 61-101), which is required under MI 61-101, was satisfied as there are no holders of Multiple Voting Shares eligible to cast a vote thereunder, as all holders of Multiple Voting Shares are “interested parties” within the meaning of MI 61-101 and must be excluded from such vote.
Category of Voting: Holders of Subordinate Voting Shares and Multiple Voting Shares, voting together as a single class
Percentages of Votes For: 99.24%
Percentages of Votes Against: 0.76%
Category of Voting: Holders of Subordinate Voting Shares
Percentages of Votes For: 86.08%
Percentages of Votes Against: 13.92%
Category of Voting: Holders of Multiple Voting Shares
Percentages of Votes For: 100%
Percentages of Votes Against: 0%
Category of Voting: Holders of Subordinate Voting Shares, excluding the Rollover Shareholders and those required to be excluded under MI 61-101
Percentages of Votes For: 86.04%
Percentages of Votes Against: 13.96%
The Arrangement remains subject to the satisfaction or waiver of certain other closing conditions customary in a transaction of this nature, including the receipt of a final order from the Court approving the Arrangement (the “Final Order”) and certain regulatory approvals. The hearing in respect of the Final Order is scheduled to take place on June 20, 2024. Assuming that these remaining conditions to closing are satisfied, the Arrangement is expected to be completed in late 2024 or the first quarter of 2025.
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 50 markets, 150 currencies and 700 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
This press release contains "forward-looking information" and "forward-looking statements" (collectively, "Forward-looking information") within the meaning of applicable securities laws. 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, statements regarding the proposed transaction, including the proposed timing and various steps contemplated in respect of the transaction are forward-looking information.
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, and 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.
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 the heading "Risk Factors" in the Company's annual information form filed on March 5, 2024 and under the heading "Risk Factors" in the Company's management's discussion and analysis for the three months ended March 31, 2024. These risks and uncertainties further include (but are not limited to) as concerns the transaction, the failure of the parties to obtain the necessary regulatory and court approvals or to otherwise satisfy the conditions to the completion of the transaction, failure of the parties to obtain such approvals or satisfy such conditions in a timely manner, significant transaction costs or unknown liabilities, failure to realize the expected benefits of the transaction, and general economic conditions. Failure to obtain the necessary regulatory and court approvals, or the failure of the parties to otherwise satisfy the conditions to the completion of the transaction or to complete the transaction, may result in the transaction not being completed on the proposed terms, or at all. In addition, if the transaction is not completed, and the Company continues as a publicly-traded entity, there are risks that the announcement of the proposed transaction and the dedication of substantial resources of the Company to the completion of the transaction could have an impact on its business and strategic relationships (including with future and prospective employees, customers, suppliers and partners), operating results and activities in general, and could have a material adverse effect on its current and future operations, financial condition and prospects. Furthermore, in certain circumstances, the Company may be required to pay a termination fee pursuant to the terms of the Arrangement Agreement which could have a material adverse effect on its financial position and results of operations and its ability to fund growth prospects and current operations.
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.
Investors
Kingsdale Advisors
contactus@kingsdaleadvisors.com
Chris Mammone, Head of Investor Relations
Media
Joel Shaffer
FGS Longview
ViaPlus partners with Nuvei to offer 700+ new payment types in 150+ currencies, enhancing the payments experience for mobility services in Brazil, Peru, Colombia, and more.
CARROLLTON, TX and MONTREAL, June 11 2024 – ViaPlus, a subsidiary of VINCI Highways, and Nuvei Corporation (“Nuvei”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today announce a partnership to deliver an enhanced payment experience for consumers when purchasing mobility services.
The partnership will integrate ViaPlus’ mobility back office, which processes and financially reconciles large volumes of transactions, with Nuvei’s global acquiring and processing reach and capacity to manage a wide variety of digital applications through extensive Alternative Payment Methods (APM) integrations.
ViaPlus’ single, seamless integration to Nuvei’s payment technology platform introduces over 700 new payment types to the ViaPlus system to form a new digital payment network called ViaPlus Nexus™. ViaPlus consumers will be able to pay for mobility services with new methods including standard digital options like Apple Pay, as well as popular local choices in countries served by the VINCI Highways network: Brazil’s Pix, Peru’s Pago Efectivo, and Colombia’s Nequi. ViaPlus will also include China’s Alipay, one of the world’s most popular digital wallets.
Further benefits include broader accessibility for customers who choose to pay cash via Nuvei’s retail payment network, and the general convenience of increased paperless payments.
Richard Arce, president and CEO of ViaPlus, states: “This initiative reflects the commitment of ViaPlus and VINCI Highways to enhancing the driver experience with secure and efficient payment methods for the global mobility ecosystem.”
Philip Fayer, Nuvei Chair and CEO, added: “We’re thrilled to partner with ViaPlus. Our mission is to enable businesses to connect with their customers more deeply, and this partnership is another great example of the power of payments technology to do this. Enabling consumers to pay wherever they are, whenever they want to, and whichever payment methods they prefer is critical to the modern digital experience.”
ViaPlus is a global mobility company in the Intelligent Transportation Systems (ITS) market, specializing in revenue and services management solutions for the transportation industry. Our customer operations, data analytics, and full-featured, single-account back-office technology facilitate the high-volume transactions required for seamless multimodal mobility. As a VINCI Highways subsidiary, we are committed to technical innovation and to promoting a positive mobility experience for all.
Contact:
Nicole Busse
VINCI Highways, a VINCI Concessions subsidiary, is a leader in road concessions, operations and mobility services. We design, finance, build and operate highways, bridges, tunnels, urban roads and mobility services on a +3,000 km network in 14 countries. VINCI Highways leverages its expertise to deliver the highest performance and safety standards and provide drivers with a positive experience.
More information:
https://www.vinci-concessions.com/en/vinci-highways
https://www.linkedin.com/company/vinci-highways/
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 50 markets, 150 currencies and 700 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
Investor Relations
Glass Lewis advises Nuvei shareholders to vote FOR the Arrangement with Advent International. Vote by June 14, 2024.
MONTREAL, June 11 2024 – Nuvei Corporation ("Nuvei" or the "Company") (Nasdaq: NVEI) (TSX: NVEI), today announced that proxy advisory firm Glass, Lewis & Co. (“Glass Lewis”) has recommended that Nuvei shareholders vote FOR the previously announced statutory plan of arrangement (the “Arrangement”) involving the Company and Neon Maple Purchaser Inc. (the “Purchaser”), a newly-formed entity controlled by Advent International ("Advent"), pursuant to the provisions of the Canada Business Corporations Act. Pursuant to the Arrangement, the Purchaser will acquire all the issued and outstanding subordinate voting shares (“Subordinate Voting Shares”) and multiple voting shares (“Multiple Voting Shares”) of the Company (collectively, the “Shares”) that are not Rollover Shares for a price of US$34.00 cash per Share. The special meeting of shareholders (the “Meeting”) to approve the Arrangement will be held on June 18, 2024 at 10:00 a.m. (Eastern time), in a virtual format at the following link: https://web.lumiagm.com/432819058.
Glass Lewis is the second leading independent proxy advisory firm to recommend shareholders vote “FOR” the Arrangement, following the previously announced recommendation from Institutional Shareholder Services (“ISS”).
The board of directors of the Company (the “Board”) has unanimously concluded (with interested directors abstaining from voting) that the Arrangement is in the best interests of the Company and its shareholders and recommends that shareholders vote FOR the special resolution approving the Arrangement (the “Arrangement Resolution”). This recommendation followed the unanimous recommendation of a special committee of the Board which is comprised solely of independent directors and was formed in connection with the transaction.
The Company's management proxy circular and the Schedule 13E-3 required pursuant to the Rules under the U.S. Securities and Exchange Act of 1934, as amended, are available under Nuvei's profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.
Your vote is important regardless of the number of Shares you own. If you are unable to be virtually present at the Meeting, we encourage you to submit your proxy or voting instruction form, so that your Shares can be voted at the Meeting in accordance with your instructions. To be counted at the Meeting, votes must be received by Nuvei’s transfer agent, TSX Trust Company, no later than 10:00 a.m. (Eastern time) on June 14, 2024, or, if the Meeting is adjourned or postponed, at least 48 hours (excluding Saturdays and holidays) prior to the commencement of the reconvened Meeting.
If you have any questions or require more information with respect to the procedures for voting, please contact our strategic advisor, Kingsdale Advisors by telephone at 1 (888) 327-0819 (toll-free in North America) or at (416) 623-4173 (outside of North America), or by email at contactus@kingsdaleadvisors.com. For more information, please visit www.NuveiPOA.com.
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 50 markets, 150 currencies and 700 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
This press release contains "forward-looking information" and "forward-looking statements" (collectively, "Forward-looking information") within the meaning of applicable securities laws. 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, statements regarding the proposed transaction, including the proposed timing and various steps contemplated in respect of the transaction and statements regarding the plans, objectives, and intentions of Mr. Philip Fayer, Novacap, CDPQ or Advent are forward-looking information.
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, and 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.
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 the heading "Risk Factors" in the Company's annual information form filed on March 5, 2024 and under the heading “Risk Factors” in the Company’s management’s discussion and analysis for the three months ended March 31, 2024. These risks and uncertainties further include (but are not limited to) as concerns the transaction, the failure of the parties to obtain the necessary shareholder, regulatory and court approvals or to otherwise satisfy the conditions to the completion of the transaction, failure of the parties to obtain such approvals or satisfy such conditions in a timely manner, significant transaction costs or unknown liabilities, failure to realize the expected benefits of the transaction, and general economic conditions. Failure to obtain the necessary shareholder, regulatory and court approvals, or the failure of the parties to otherwise satisfy the conditions to the completion of the transaction or to complete the transaction, may result in the transaction not being completed on the proposed terms, or at all. In addition, if the transaction is not completed, and the Company continues as a publicly-traded entity, there are risks that the announcement of the proposed transaction and the dedication of substantial resources of the Company to the completion of the transaction could have an impact on its business and strategic relationships (including with future and prospective employees, customers, suppliers and partners), operating results and activities in general, and could have a material adverse effect on its current and future operations, financial condition and prospects. Furthermore, in certain circumstances, the Company may be required to pay a termination fee pursuant to the terms of the Arrangement Agreement which could have a material adverse effect on its financial position and results of operations and its ability to fund growth prospects and current operations.
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.
For further information, please contact:
Investors
Kingsdale Advisors
contactus@kingsdaleadvisors.com
Chris Mammone, Head of Investor Relations
Media
Joel Shaffer
FGS Longview
[1] Philip Fayer, certaininvestment funds managed by Novacap Management Inc. (collectively,"Novacap") and CDPQ (together with entities they control directly orindirectly, collectively, the "Rollover Shareholders") have agreed toroll approximately 95%, 65% and 75%, respectively, of their Shares (the"Rollover Shares") and are expected to receive in aggregateapproximately US$563 million in cash for the Shares sold on closing(percentages and amount of expected cash proceeds are subject to change as aresult of cash generated before closing).
Philip Fayer, our Chair and CEO, recently spoke to Yahoo Finance about our two IPOs in one year
Philip Fayer, our Chair and CEO, recently spoke to Yahoo Finance about our two IPOs in one year, Nuvei’s continually-expanding global presence, the company’s people-first culture, and the life-changing opportunities for everyone that chooses to work at Nuvei.
Meet Nuvei. Our future-proof technology allows businesses to accept cutting-edge payment options, optimize new revenue streams, and get the most out of your existing stack—all on one platform.
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