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 Singapore Pte Ltd, has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore
MONTREAL, April 9 2024 – Nuvei Corporation (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today announces that its Singapore entity, Nuvei Singapore Pte Ltd, has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore.
This new license enables Nuvei to operate three types of payments services in Singapore, including domestic money transfer, cross-border money transfer, and merchant acquisition services. Businesses in Singapore are now benefiting from Nuvei’s cutting-edge, agile technology that’s built to accelerate their growth, as well as Nuvei’s global reach and expertise in local markets across Asia-Pacific (APAC).
Nuvei’s payments platform enables businesses to optimize operating costs and boost conversion rates by consolidating their payments solutions, maximizing payments acceptance, minimizing risk, and enhancing the consumer payment experience.
“Securing this MPI license is another significant milestone as we continue accelerating our growth in APAC,” commented Philip Fayer, Nuvei's Chair and CEO. “This license enhances our service offering for customers in Singapore by enabling us to provide additional payment solutions, including international money transfers through direct card payouts. It also provides another validation of our steadfast commitment to optimizing the payment experience for businesses and consumers throughout this critically important region.”
The MPI license complements Nuvei's expansion across APAC, including launching direct card acquiring capabilities in Australia, and its continued growth in China.
This announcement follows a recent Nuvei launch of near instantaneous payout capabilities for businesses in Singapore via its partnership with Mastercard Send™. Through this strategic partnership with Mastercard, Nuvei can now enable businesses to process rapid cross-border payouts to over 1.5 billion Mastercard debit, credit and prepaid cards globally.
Nuvei continues to invest in building its presence across APAC to support businesses looking to scale both locally and cross-border. The Company's modular payments platform enables clients to securely connect with customers in over 200 markets worldwide through a single integration, accepting 680 alternative payment methods and offering acquiring in over 50 markets.
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 680 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 Invoice Financing integrated into leading enterprise resource planning (ERP) platforms, including Sage and Acumatica
MONTREAL, April 11 2024 – Nuvei Corporation (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today announces the launch of its new Invoice Financing services that have been integrated into several leading enterprise resource planning (ERP) platforms, including Sage and Acumatica. This new service enables merchants to access Nuvei's Invoice Financing solutions directly within their ERP systems to optimize cash flow and unlock working capital more efficiently.
Nuvei’s flagship Accounts Receivable Automation suite is built with the intent of helping customers manage and improve DSO (Days Sales Outstanding). The launch of Invoice Financing represents an off-balance sheet extension of this solution, providing new and existing customers with a high degree of certainty to same day or next day cash.
Invoice Financing has emerged as a crucial tool for businesses to scale as they seek innovative solutions to manage their finances effectively during a period of high interest rates. With one click, Nuvei’s Invoice Financing solution enables businesses to expedite payments from any customer invoiced through their ERP. Invoice Financing from Nuvei ensures that businesses not only receive the cash they need promptly, but they also benefit from uniquely favorable rates made available by existing payment transaction data.
The key benefits and features of Nuvei's integrated Invoice Financing services include:
1) Instant access to capital: Businesses can gain access to cash within 24 hours by converting outstanding invoices into immediate working capital, enabling them to address immediate financial needs such as paying suppliers, covering operational expenses, or seizing time-sensitive business opportunities.
2) Enhanced cash flow management: With one-click invoice financing seamlessly integrated into the ERP, businesses can maintain a healthier cash flow by converting outstanding invoices into immediate working capital.
3) Seamless integration with existing workflows: Loan and repayment general ledger (GL) entries are automatically reflected in the ERP system and associated with the financed invoice.
The integration process features frictionless onboarding and quick funds disbursement within 24 hours of choosing to finance an invoice.
"Our mission is to bring our customers closer to their customers through our proprietary payments technology and solutions, and to enable them to accelerate their growth," commented Philip Fayer, Nuvei Chair and CEO. "By integrating our Invoice Financing services with leading ERP platforms, we're empowering businesses to unlock financial flexibility and optimize their cash flow management, ultimately supporting their success in the ever-evolving business landscape."
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 680 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 to Publish First Quarter 2024 Results on May 7, 2024
MONTREAL, April 24, 2024 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today announced it will publish its first quarter 2024 results after market close on May 7, 2024.
On April 1, 2024, Nuvei announced that it entered into a definitive arrangement agreement to be taken private by Advent International 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 first 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 680 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
Nuvei Financial Highlights for the Three Months Ended March 31, 2024
Nuvei reports in U.S. dollars and in accordance with International Financial Reporting Standards (“IFRS”)
MONTREAL, May 7, 2024 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today reported its financial results for the three months ended March 31, 2024. The Company’s results are also included in a quarterly shareholder letter which can be found in the “Events and presentations” and “Financial information” sections of the Company’s Investor Relations website at https://investors.nuvei.com.
Financial Highlights for the Three Months Ended March 31, 2024
(a) Total volume, Organic total volume at constant currency and Proforma total volume do not represent revenue earned by the Company, but rather the total dollar value of transactions processed by merchants under contractual agreement with the Company. See “Non-IFRS and Other Financial Measures”.
(b) Adjusted EBITDA, Adjusted EBITDA margin, Revenue at constant currency, Revenue growth at constant currency, Organic revenue at constant currency, Organic revenue growth at constant currency, Nuvei pro forma revenue growth, 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”.
Revenue by channel
(a) Pro forma revenue growth by channel is calculated as (i) Nuvei's reported revenue for the relevant channel for the three months ended March 31, 2024 divided by (ii) Nuvei pro forma revenue for the relevant channel for the three months ended March 31, 2023. Nuvei pro forma revenue for the three months ended March 31, 2023 consists of (x) Nuvei's reported revenue for the relevant channel for the three months ended March 31, 2023, plus (y) Paya's revenue from January 1, 2023 to February 21, 2023 and Till payments revenue from January 1, 2023 to March 31, 2023, net of interchange fees in order to align with Nuvei's presentation of revenue calculated in accordance with the accounting policies used to prepare the revenue line item presented in the Company’s financial statements under IFRS. See "Supplemental Financial Measures" for more detail.
Revenue by geography
.
Advent 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, 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[1], 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. Implementation of the transaction will be subject to, among other things, the following shareholder approvals at a special meeting of shareholders to be held to approve the Proposed transaction (the “Meeting”): (i) the approval of at least 66 2/3% of the votes cast by the holders of Multiple Voting Shares and Subordinate Voting Shares, 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) the approval of not less than a simple majority of the votes cast by holders of Multiple Voting Shares; (iii) the approval of not less than a simple majority of the votes cast by holders of Subordinate Voting Shares; (iv) if required, the approval of not less than a simple majority of the votes cast by holders of Multiple Voting Shares (excluding the Multiple Voting Shares held by the Rollover Shareholders and any other shares required to be excluded pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61-101”); and (v) the approval of not less than a simple majority of the votes cast by holders of Subordinate Voting Shares (excluding the Subordinate Voting Shares held by the Rollover Shareholders and any other shares required to be excluded pursuant to MI 61-101). The Proposed transaction is also subject to court approval and customary closing conditions, including receipt of key regulatory approvals, 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 June 6, 2024 to shareholders of record on May 21, 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 March 31, 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 take-private with Advent, going forward we will be suspending earnings conference calls as well as our practice of providing financial outlook, thereby withdrawing our financial outlook for the year ending December 31, 2024, as well as our medium and long-term 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 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
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 EBITDA margin, Revenue at constant currency, Revenue growth at constant currency, Organic Revenue at constant currency, Organic revenue growth at constant currency, Nuvei pro forma revenue and Nuvei pro forma revenue growth, Adjusted net income, Adjusted net income per basic share, Adjusted net income per diluted share, Adjusted EBITDA less capital expenditures, Adjusted EBITDA less capital expenditures conversion, Total volume, Organic total volume at constant currency and Pro forma 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
Revenue at constant currency: Revenue at constant currency means revenue, as reported in accordance with IFRS, adjusted for the impact of foreign currency exchange fluctuations. This measure helps provide insight on comparable revenue growth by removing the effect of changes in foreign currency exchange rates year-over-year. Foreign currency exchange impact in the current period is calculated using prior period quarterly average exchange rates applied to the current period foreign currency amounts.
Organic revenue at constant currency: Organic revenue at constant currency means revenue, as reported in accordance with IFRS, adjusted to exclude the revenue attributable to acquired businesses for a period of 12 months following their acquisition and excluding revenue attributable to divested businesses, adjusted for the impact of foreign currency exchange fluctuations. Foreign currency exchange impact in the current period is calculated using prior period quarterly average exchange rates applied to the current period foreign currency amounts. This measure helps provide insight on organic and acquisition-related growth and presents useful information about comparable revenue growth.
Adjusted EBITDA: We use Adjusted EBITDA as a means to evaluate operating performance, by eliminating the impact of non-operational or non-cash items. Adjusted EBITDA is defined as net income (loss) before finance costs (recovery), finance income, depreciation and amortization, income tax expense, acquisition, integration and severance costs, share-based payments and related payroll taxes, loss (gain) on foreign currency exchange, and legal settlement and other.
Adjusted 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
Revenue growth at constant currency: Revenue growth at constant currency means the year-over-year change in Revenue at constant currency divided by reported revenue in the prior period. We use Revenue growth at constant currency to provide better comparability of revenue trends year-over-year, without the impact of fluctuations in foreign currency exchange rates.
Organic revenue growth at constant currency: Organic revenue growth at constant currency means the year-over-year change in Organic revenue at constant currency divided by comparable Organic revenue in the prior period. We use Organic revenue growth at constant currency to provide better comparability of revenue trends year-over-year, without the impact of acquisitions, divestitures and fluctuations in foreign currency exchanges rates.
Adjusted EBITDA margin: Adjusted EBITDA margin means Adjusted EBITDA divided by revenue.
Adjusted EBITDA less capital expenditures conversion: Adjusted EBITDA less capital expenditures conversion means Adjusted EBITDA less capital expenditures divided by Adjusted EBITDA. We use Adjusted EBITDA less capital expenditures conversion to measure our capacity to convert Adjusted EBITDA into Adjusted EBITDA less capital expenditures.
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.
Organic total volume at constant currency: Organic total volume at constant currency is used as an indicator of performance of our business on a more comparable basis. This measure helps provide insight on organic and acquisition-related growth and presents useful information about comparable Total volume growth. This measure also helps provide better comparability of business trends year-over-year, without the impact of fluctuations in foreign currency exchange rates. Organic total volume at constant currency means Total volume excluding Total volume attributable to acquired businesses for a period of 12 months following their acquisition and excluding Total volume attributable to divested businesses, adjusted for the impact of foreign currency exchange fluctuations. Foreign currency exchange impact in the current period is calculated using prior period quarterly average exchange rates applied to the current period foreign currency amounts.
Pro forma total volume: Pro forma total volume represents Nuvei’s reported volume after giving effect to the acquisition of Paya and Till Payments as though such acquisition had occurred at the beginning of the period presented. This measure helps provide insight on the combined Total volume of the Nuvei, Paya and Till Payments businesses.
Nuvei pro forma revenue: Nuvei pro forma revenue represents Nuvei’s reported revenue after giving effect to the acquisition of Paya and Till Payments as though such acquisition had occurred at the beginning of the period presented. Nuvei pro forma revenue is presented both on an aggregated basis and by channel. In order to align with the Company's presentation of revenue calculated in accordance with the accounting policies used to prepare the revenue line item presented in the Company’s financial statements under IFRS, Paya's and Till Payments’ revenue contribution amounts are presented net of interchange fees, which was not the case for Till Payments and for a small portion of fees prior to the acquisition of Paya by the Company. This presentation is consistent with the pro forma disclosure required under IFRS in Nuvei’s condensed interim consolidated financial statements for the three months ended March 31, 2024. This measure helps provide insight on the combined revenue of the Nuvei, Paya and Till Payments businesses.
Nuvei pro forma revenue growth: Nuvei pro forma revenue growth represents Nuvei reported revenue divided by Nuvei pro forma revenue in the comparative year. This ratio is presented both on an aggregated basis and by channel. This ratio helps provide a better understanding of the additional contribution of the Paya and Till Payments businesses on Nuvei’s year-over-year revenue growth. Nuvei pro forma revenue is used as a component of this ratio only until the completion of a full financial year following the acquisition of Paya and Till Payments.
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., 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 March 31, 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 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.
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
IR@nuvei.com
(a) Revenue from acquisitions primarily reflects revenue from Paya which was acquired on February 22, 2023 and from Till Payments which was acquired on January 5, 2024.
[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.
Uncover Nuvei's strategic move to privatization with Advent and key Canadian shareholders, aiming for innovation and global expansion.
Key highlights:
MONTREAL, April 1, 2024 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), today announced that it has entered into a definitive arrangement agreement (the “Arrangement Agreement”) to be taken private by Advent International (“Advent”), one of the world’s largest and most experienced global private equity investors, with the support of each of the Company’s holders of multiple voting shares (“Multiple Voting Shares”), being Philip Fayer, certain investment funds managed by Novacap Management Inc. (collectively, “Novacap”) and CDPQ, via an all-cash transaction which values Nuvei at an enterprise value of approximately US$6.3 billion. The Company will continue to be based in Montreal.
One of the most advanced technology providers in the global payments industry, Nuvei accelerates the growth of its customers and partners around the world through a modular, flexible and scalable solution that enables leading companies across all verticals to accept next-gen payments, offer all payout options, and benefit from card issuing, banking, risk and fraud management services. Nuvei’s global reach extends to more than 200 markets across the globe, with local acquiring in 50 markets and connectivity to 680 local and alternative payment methods.
In its recent 2023 annual financial statements Nuvei announced that it had processed more than US$200 billion in Total volume[2], and US$1.2 billion in revenue.Advent is a longstanding investor in the payments space. Nuvei will benefit from the significant resources, operational, and sector expertise, as well as the capacity for investment provided by Advent.
Philip Fayer will remain Nuvei’s Chair and Chief Executive Officer and will lead the business in all aspects of its operations. Nuvei’s current leadership team will also continue following the conclusion of the transaction.
Fayer commented on the announcement: “This transaction marks the beginning of an exciting new chapter for Nuvei, and we are glad to partner with Advent to continue to deliver for our customers and employees and capitalize on the significant opportunities that this investment provides.
”Fayer continued: “Our strategic initiatives have always focused on accelerating our customers revenue, driving innovation across our technology, and developing our people. Bringing in a partner with such extensive experience in the payments sector will continue to support our development.”
“Nuvei has created a differentiated global payments platform with an innovative product offering that serves attractive payments end markets like global eCommerce, B2B and embedded payments,” said Bo Huang, a Managing Director at Advent. “Our deep expertise and experience in payments give us conviction in the opportunity to support Nuvei as it continues to scale from its base in Canada as a global player in the space. We look forward to collaborating closely with Nuvei to capitalize on emerging opportunities to help shape the future of the payments industry.”
“As an existing and long-term shareholder, we continue to stand behind management's proven dedication to innovation, efficiency, and market adaptation, which has consistently propelled Nuvei forward. With our continued support, we entrust management to navigate the evolving landscape adeptly, driving expansion, and delivering on our shared commitment to long-term growth for Nuvei employees and customers,” said David Lewin, 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.
Transaction Highlights
Advent will acquire all the issued and outstanding subordinate voting shares of Nuvei (the “Subordinate Voting Shares”) and any Multiple Voting Shares that are not Rollover Shares (as defined below). These Subordinate Voting Shares and Multiple Voting Shares (collectively, the “Shares”) will each be acquired for a price of US$34.00 per Share, in cash.
This price represents a 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[3] per Subordinate Voting Share as of such date.
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[4]. 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.
The proposed transaction has the support of each of the holders of Multiple Voting Shares, namely Philip Fayer, Novacap and CDPQ, who collectively represent approximately 92% of the voting power attached to all the Shares.
Nuvei’s Board of Directors, after receiving advice from the Company’s financial advisor and outside legal counsel, is unanimously recommending (with interested directors abstaining from voting) that the Nuvei shareholders vote in favour of the transaction. This recommendation follows the unanimous recommendation of a special committee of the Board of Directors which is comprised solely of independent directors and was formed in connection with the transaction (the “Special Committee”). The Special Committee was advised by independent legal counsel and retained TD Securities Inc. (“TD”) as financial advisor and independent valuator.
Further Transaction Details
The transaction will be implemented by way of a statutory plan of arrangement under the Canada Business Corporations Act. Implementation of the transaction will be subject to, among other things, the following shareholder approvals at a special meeting of shareholders to be held to approve the proposed transaction (the “Meeting”): (i) the approval of at least 66 2/3% of the votes cast by the holders of Multiple Voting Shares and Subordinate Voting Shares, 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) the approval of not less than a simple majority of the votes cast by holders of Multiple Voting Shares; (iii) the approval of not less than a simple majority of the votes cast by holders of Subordinate Voting Shares; (iv) if required, the approval of not less than a simple majority of the votes cast by holders of Multiple Voting Shares (excluding the Multiple Voting Shares held by the Rollover Shareholders and any other shares required to be excluded pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61-101”); and (v) the approval of not less than a simple majority of the votes cast by holders of Subordinate Voting Shares (excluding the Subordinate Voting Shares held by the Rollover Shareholders and any other shares required to be excluded pursuant to MI 61-101). The transaction is also subject to court approval and customary closing conditions, including receipt of key regulatory approvals, 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.The Arrangement Agreement provides for a non-solicitation covenant on the part of Nuvei, which is subject to customary “fiduciary out” provisions that enable Nuvei to terminate the Arrangement Agreement and accept a superior proposal in certain circumstances. A termination fee of US$150 million would be payable by Nuvei in certain circumstances, including in the context of a superior proposal supported by Nuvei. A reverse termination fee of US$250 million would be payable to Nuvei if the transaction is not completed in certain circumstances.
In connection with the proposed transaction, each director and member of senior management of Nuvei and each Rollover Shareholder has entered into a customary support and voting agreement pursuant to which it has agreed, subject to the terms thereof, to support and vote all of their Shares in favour of the transaction. Consequently, holders of approximately 0.3% of the Subordinate Voting Shares and holders of 100% of the Multiple Voting Shares, representing approximately 92% of the total voting power attached to all of the Shares, have agreed to vote their Shares in favour of the transaction.
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”).
Fairness Opinions and Formal Valuation and Voting Recommendation
The Arrangement Agreement was the result of a comprehensive negotiation process with Advent that was undertaken with the supervision and involvement of the Special Committee advised by independent and highly qualified legal and financial advisors.
The Special Committee retained TD as financial advisor and independent valuator. In arriving at its unanimous recommendation in favour of the transaction, the Special Committee considered several factors which will be outlined in public filings to be made by Nuvei. These include a formal valuation report prepared by TD in accordance with MI 61-101 (the “Formal Valuation”) and a fairness opinion rendered by TD. TD orally delivered to the Special Committee the results of the Formal Valuation, completed under the Special Committee’s supervision, opining that, as of April 1, 2024, subject to the assumptions, limitations and qualifications communicated to the Special Committee by TD and to be contained in TD’s written Formal Valuation, the fair market value of the Shares is between US$33.00 and US$42.00 per Share. TD orally delivered a fairness opinion to the Special Committee to the effect that, as of April 1, 2024, subject to the assumptions, limitations and qualifications communicated to the Special Committee, and to be contained in TD’s written fairness opinion (the “TD Fairness Opinion”), the consideration to be received by shareholders (other than the Rollover Shareholders and any other shareholders required to be excluded pursuant to MI 61-101) pursuant to the Arrangement Agreement is fair, from a financial point of view, to such shareholders. Barclays Capital Inc., financial advisor to the Company (“Barclays”), delivered a fairness opinion to the Board of Directors to the effect that, as of April 1, 2024, subject to the assumptions, limitations and qualifications described therein, the consideration to be received by shareholders (other than the Rollover Shareholders in respect of the Rollover Shares) pursuant to the Arrangement Agreement and the Plan of Arrangement is fair, from a financial point of view, to such shareholders (together with the TD Fairness Opinion, the “Fairness Opinions”).The Board of Directors received the Fairness Opinions and the Formal Valuation and, after receiving the unanimous recommendation of the Special Committee and advice from the Company’s financial advisor and outside legal counsel, the Board of Directors unanimously (with interested directors abstaining from voting) determined that the transaction is in the best interests of Nuvei and is fair to its shareholders (other than the Rollover Shareholders and any other shareholders required to be excluded pursuant to MI 61-101) and unanimously recommended (with interested directors abstaining from voting) that shareholders vote in favour of the transaction.
Copies of the Formal Valuation and the Fairness Opinions, as well as additional details regarding the terms and conditions of the transaction and the rationale for the recommendation made by the Special Committee and the Board of Directors will be set out in the management proxy circular to be mailed to shareholders in connection with the Meeting and filed by the Company on its profile on SEDAR+ at www.sedarplus.ca and on EDGAR as an exhibit to the Schedule 13E-3 Transaction Statement to be filed by Nuvei at www.sec.gov.
Important Additional Information and Where to Find It
In connection with the transaction, Nuvei intends to file relevant materials on its profile on SEDAR+ and with the SEC on EDGAR. Shareholders will be able to obtain these documents, as well as other filings containing information about Nuvei, the transaction and related matters, without charge from the SEDAR+ website at www.sedarplus.ca and from the SEC’s website at www.sec.gov.AdvisorsBarclays Capital Inc. acted as exclusive financial advisor to the Company, and TD Securities Inc. acted as independent valuator and financial advisor to the Special Committee. Stikeman Elliott LLP and Davis Polk & Wardwell LLP acted as legal advisors to the Company. Norton Rose Fulbright Canada LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisors to the Special Committee. RBC Capital Markets acted as financial advisor to Advent, while Kirkland & Ellis LLP and Blake, Cassels & Graydon LLP acted as legal advisors to Advent. BMO Capital Markets is acting as left lead arranger and administrative agent for the new US$600 million revolving credit facility and US$2,550 million term loan financing. Osler, Hoskin & Harcourt LLP acted as legal advisor to Philip Fayer. Fasken Martineau DuMoulin LLP and Willkie Farr & Gallagher LLP acted as legal advisors to Novacap. CIBC Capital Markets acted as financial advisor to CDPQ, and McCarthy Tétrault LLP and Mayer Brown LLP acted as its legal advisors.
Early Warning Disclosure by Mr. Philip Fayer
Further to the requirements of Regulation 62-104 respecting Take-Over Bids and Issuer Bids and Regulation 62-103 respecting the Early Warning System and Related Take-Over Bid and Insider Reporting Issues, Mr. Philip Fayer will file an amended early warning report in connection with his participation in the transaction as Rollover Shareholder and for which he has entered into a support and voting agreement pursuant to which he has agreed, subject to the terms thereof, to support and vote all of his Shares in favour of the transaction. A copy of Mr. Fayer’s related early warning report will be filed with the applicable securities commissions and will be made available on SEDAR+ at www.sedarplus.ca. Further information and a copy of the early warning report of Mr. 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 680 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
Contact:
Public Relations
Investor Relations
About Advent International
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 415 private equity investments across more than 40 countries and regions, and as of September 30, 2023, had US$91 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 295 private equity investment professionals across North America, Europe, Latin America, and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer, and leisure; and technology. For 40 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.
For more information, visit:
Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international
Contact:
Leslie Shribman, Head of Communications
lshribman@adventinternational.com
About Novacap
Founded in 1981, Novacap is a leading North American private equity firm with over C$8B of AUM that has invested in more than 100 platform companies and completed more than 150 add-on acquisitions. Applying its sector-focused approach since 2007 in Industries, TMT, Financial Services, and Digital Infrastructure, Novacap’s deep domain expertise can accelerate company growth and create long-term value. With experienced, dedicated investment and operations teams as well as substantial capital, Novacap has the resources and knowledge that help build world-class businesses. Novacap has offices in Montreal, Toronto, and New York.
For more information, please visit www.novacap.ca.
Contact: Marc P. Tellier, Senior Managing Director
514-915-5743
About CDPQ
At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at December 31, 2023, CDPQ’s net assets totalled C$434 billion. For more information, visit cdpq.com, consult our LinkedIn or Instagram pages, or follow us on X.
CDPQ is a registered trademark owned by Caisse de dépôt et placement du Québec and licensed for use by its subsidiaries.
Contact:
Kate Monfette, Media Relations
514 847-5493
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. 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 “Risk Factors” of the Company’s annual information form filed on March 5, 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.
[1] Based on Canadian composite (Toronto Stock Exchange and all Canadian marketplaces) and U.S. composite (Nasdaq and all U.S. marketplaces).
[2] 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. The Company refers the reader to the “Non-IFRS and Other Financial Measures” section of the Company’s Management’s discussion and analysis in respect of the Company’s financial year ended December 31, 2023 (“2023 MD&A”), which section is incorporated by reference herein, for a definition of Total volume presented by the Company. The 2023 MD&A is available at https://investors.nuvei.com and under the Company’s profiles on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.
[3] Based on Canadian composite (Toronto Stock Exchange and all Canadian marketplaces) and U.S. composite (Nasdaq and all U.S. marketplaces).
[4] 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 addresses speculation on a potential privatization deal, affirming discussions. Stay updated on developments.
MONTREAL, March 17 2024 – Nuvei Corporation (NASDAQ: NVEI) (TSX: NVEI) (the “Company” or “Nuvei”) announces today that it is aware of recent media reports speculating as to a potential going-private transaction involving the Company.
While the Company’s policy is to not comment on rumours or speculation, the Company confirms that, in connection with expressions of interest received by the Company, the board of directors of the Company formed a special committee of independent directors (the “Special Committee”) to evaluate and consider, in consultation with the Special Committee’s and the Company’s respective financial and legal advisors, such expressions of interest as well as any other strategic alternatives that may be available under the circumstances in the best interest of the Company. The Company further confirms that it is engaged in discussions with certain third parties in connection with a potential transaction involving continued significant ownership by certain of the holders of multiple voting shares, including Phil Fayer, Nuvei’s founder, Chair and Chief Executive Officer.
The Company cautions readers that it has not entered into any agreements or understandings to effect a privatization or similar transaction, and there can be no assurance that any discussions that have taken place will result in any such agreements or understandings. The Special Committee is continuing its evaluation of the proposals received to date and the strategic alternatives available to the Company, and no decision has been made at this time whether to pursue a transaction or maintain the status quo. Given the nature of the process, the Company does not intend on commenting further unless otherwise required pursuant to applicable securities laws and regulations.
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 680 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, including with respect to the Company’s evaluation of the expressions of interest and proposals received as well as any other strategic alternatives that may be available under the circumstances and the possible outcomes thereof. 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. 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. 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 that the strategic review process may not result in a transaction on suitable terms, or at all, and the other risk factors described in detail under “Risk Factors” of the Company’s annual information form filed on March 5, 2024.
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
Chris Mammone, Head of Investor Relations
Charles & Keith partners with Nuvei for global e-commerce growth, leveraging advanced payment technologies for enhanced customer experiences.
MONTREAL and SINGAPORE, March 19 2024 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that it has partnered with Charles & Keith, the Singaporean-based fashion house specializing in footwear, handbags and accessories, to optimize the brand's eCommerce payments solution as it continues its rapid global expansion.
Through a single integration with Nuvei's full stack payments technology platform, Charles & Keith is now able to accept a wide range of alternative payment methods (APMs), tailoring its online checkout experience to local customer preferences across the brand's markets in Southeast Asia, Europe and the United States. This includes enabling popular digital wallets such as Apple Pay and Google Pay, allowing for a more seamless checkout flow.
Nuvei's smart routing technology is also maximizing Charles & Keith's card payment authorization rates in each region, helping drive increased revenue conversion. The brand has already seen double-digit growth in eCommerce revenues since partnering with Nuvei."
Our ambition is to make our unique contemporary fashion accessible to customers worldwide. Nuvei shares that vision and is empowering us to localize our payments experience in every market through a single integration," commented Charles Wong, Co-Founder and CEO at Charles & Keith. "Nuvei’s dedicated support, technological expertise and payment optimization capabilities have exceeded our expectations from the very start of this partnership."
In addition to Nuvei's suite of APMs and optimization features, Charles & Keith highlighted the Company's hands-on service as a key factor in their decision to choose Nuvei."
Meeting the diverse payment needs of today's global consumers demands a truly localized approach combined with deep payments intelligence," added Philip Fayer, Chair and CEO of Nuvei. "Our single integration gives Charles & Keith the ability to stay agile while accessing all the payment methods, optimization tools and on-the-ground expertise they need to maximize conversions at the checkout in each geography."
Through its partnership with Nuvei, Charles & Keith plans to further expand its international eCommerce presence, leveraging Nuvei's global reach in over 200 markets covering 150 currencies and APM portfolio. The brand also looks to continue enhancing its online and mobile checkout experiences as it scales.
About Charles & Keith
Charles & Keith Pte. Ltd., also known as C&K, is a Singaporean fashion house label founded in 1996, specializing in footwear, handbags and fashion accessories. Based in Singapore, the brand has a global footprint, operating more than 600 stores worldwide across 37 countries. For more information, visit https://www.charleskeith.com.
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 680 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
Leveraging Nuvei's solutions, The Master Group enhances its omnichannel payments, offering seamless online and in-store experiences.
MONTREAL, March 14 2024 – Nuvei Corporation ("Nuvei" or the "Company") (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that it has partnered with The Master Group, Canada’s largest distributor in the HVAC-R industry, to optimize The Master Group's payments functionality and drive faster growth through an enhanced omnichannel experience.
The Master Group is leveraging Nuvei's unified commerce solution to accept credit and debit card payments seamlessly across its online and in-store sales channels. By adding card acceptance capabilities online through this new partnership, The Master Group can now provide a more convenient payment experience to customers who previously may have relied on cash or check payments on delivery, or to pick up orders in person.
In addition to streamlining payments for existing customers, Nuvei's technology is enabling The Master Group to expand into a broader market by enabling delivery and online payment options for the first time. Customers can now complete purchases through their preferred payment methods and channels for a fully digitized checkout experience that meets modern expectations.
The Master Group has selected Nuvei as its exclusive Canadian payments partner based on its ability to simplify payments, unify reporting and customer data across channels, and provide best-in-class checkout capabilities backed by enterprise-grade security and optimization features.
“Our customers' needs are evolving, and we required a payments partner that could provide the innovation, agility and scalability to keep pace with changing demands,” stated John Kaul, President of The Master Group. “Nuvei's unified commerce solution equips us to meet our customers wherever and however they want to pay while streamlining our own operations. We're excited about the growth opportunities this partnership unlocks.”
“Businesses across industries are recognizing the value of offering true omnichannel payments to create frictionless customer experiences and expand into new sales channels and markets,” added Philip Fayer, Nuvei Chair and CEO. “We're proud to partner with The Master Group as they embrace digital transformation and look forward to supporting their continued success.”
About The Master Group
The Master Group is Canada’s largest and one of North America’s leading heating, ventilation, air conditioning and refrigeration industry distributors. The company celebrated 70 years in business in March 2022 and has been named one of Canada’s Best-Managed Companies since 2010. Master provides solutions to customers in the residential, commercial, institutional and industrial sectors. Today, the company employs over 1,500 dynamic and dedicated team members. Together, the Master team serves the industry from 85 branches and seven distribution centres across Canada and the United States.To learn more about The Master Group, visit www.master.ca
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 680 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
Enhance your online revenue with Nuvei's network tokenization, improving transaction security and boosting conversion rates.
MONTREAL, March 7 2024 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today announces the latest enhancements to its payment platform, an advanced network tokenization solution that enables its partners to benefit from smoother, more efficient, and more secure transactions in their online checkouts.
Utilizing tokens issued directly by card schemes and banks, Nuvei's solution enhances overall transaction visibility and reduces false declines. This improvement in the authorization process directly contributes to a smoother payment experience and has been shown to boost card payment conversion rates by as much as 2.1%.[1]
Nuvei’s network tokenization solution also introduces a suite of advanced features that significantly improve the checkout experience, setting a new standard for efficiency and customer satisfaction in online transactions:
These features are already being rolled out globally, supporting partners to optimize card payment acceptance. A solution to offer ‘tokenization-as-a-service’ via universal tokens applicable across multiple acquirers will be available in the near future.
A secure, integrated payment platform
Nuvei’s proprietary technology and distinctive approach to supporting tokenization optimizes card payments beyond meeting card scheme requirements to prioritize payments security, as well as enabling effortless PCI DSS compliance.
This solution, which is seamlessly integrated into its full stack payments platform, boosts card-not-present (CNP) payments security through comprehensive protection against data exposure and the threat of fraudulent transactions typically associated with CNP payments. By replacing sensitive card details, such as the primary account number (PAN), with a unique, secure identifier, tokenization offers significant security advantages over traditional encryption methods. This approach has been proven to decrease fraud rates in the payments industry by up to 26%.
Nuvei Chair and CEO Philip Fayer commented on the announcement: “Seamless transactions and conversion rates are the key to unlocking eCommerce revenue growth. Our unique approach to network tokenization not only optimizes card payments security and the protection of consumers’ financial data, but also extends the boundaries of what is possible for transaction success.”
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 680 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 IR@nuvei.com
[1] Convenience and control: Embedding tokenization in everyday ecommerce | Visa Navigate
Mark your calendar for Nuvei's financial update on March 5, 2024, detailing Q4 and annual progress. Insights to follow in the March 6 webcast.
MONTREAL, February 21, 2024 – Nuvei Corporation (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today announced it will publish its fourth quarter and fiscal year 2023 earnings press release and shareholder letter after market close on Tuesday, March 5, 2024. Management will host a conference call and webcast to discuss fourth quarter and fiscal year 2023 financial results at 8:30 am ET on Wednesday, March 6, 2024. Hosting the call will be Philip Fayer, Chair and CEO, and David Schwartz, CFO.
The conference call will be webcast live from the Company’s investor relations website at https://investors.nuvei.com under the “Events & Presentations” section. A replay will be available on the investor relations website following the call.
The conference call can also be accessed live over the phone by dialing 877-425-9470 (US/Canada toll-free), or 201-389-0878 (international). A replay will be available one hour after the call and can be accessed by dialing 844-512-2921 (US/Canada toll-free), or 412-317-6671 (international); the conference ID is 13743233. The replay will be available through Wednesday, March 20, 2024.
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 680 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
Explore how strategic payment optimizations can significantly increase eCommerce revenue, according to Nuvei's latest research findings.
MONTREAL, February 15, 2024 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today the launch of its latest research whitepaper, Accelerating revenue growth: How incremental payment optimization can drive up to 30% revenue gains, which places a spotlight on the role that strategic payment optimization can play in significantly enhancing an eCommerce business' revenue.
To compile the whitepaper data, Nuvei commissioned research to survey more than 300 global merchants and interviewed payments leaders from worldwide brands. Key takeaways from the research include:1) 30-40% of authenticated transactions for eCommerce merchants are declined2) 20-40% of those declines result in a fully lost transaction3) 70% of overall cart abandonment happens after the customer enters the checkout flow.
The extensive research offers a wealth of insights, practical strategies, case studies, and convenient scorecards for businesses seeking to harness the full power of their payments to combat these issues and optimize their revenue growth.
Philip Fayer, Nuvei Chair and CEO, commented on the announcement: “Payment optimization is key to helping our customers accelerate their revenue. Our latest research highlights the reasons it should be at the core of any payment strategy. At Nuvei, we're not just enhancing payment processing; we're revolutionizing it. By understanding the nuances of payments optimization, we intelligently apply functionality and features at every stage; pre-transaction, during transaction routing, and post-transaction to achieve the highest approval rates possible.”
Accelerating revenue growth: How incremental payment optimization can drive up to 30% revenue gains is available to download now.
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 680 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 launches direct local acquiring in Colombia, empowering eCommerce with faster, more localized payment solutions for growth.
MONTREAL, February 20 2024 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that it has launched direct local acquiring capabilities in Colombia, further expanding its presence in Latin America (LATAM) and strengthening its overall footprint in the region.
Nuvei is the first global payments company to offer direct local acquiring in Colombia, enabling local and international partners to accept card payments from their customers in the country without relying on intermediaries or third-party payment processors. Simplifying payments relationships in Colombia enables eCommerce businesses to maintain greater control over transaction flow management, as well as develop a more localized payments experience for customers.
This announcement is the latest from Nuvei as it continues to expand its global reach and enable its partners to engage with their customers more deeply through payments, wherever they are and however they want to pay. In addition to unifying international operations via a single processing platform, businesses operating in Colombia are benefitting from enhanced reporting capabilities through consolidation of all global transaction data, making data easier to analyze and inform decision making.
Colombian businesses looking to scale rapidly, including through quick and efficient international expansion, are also able to leverage Nuvei’s global reach to enter new markets with ease.Other benefits of direct local acquiring to eCommerce businesses selling to customers in Colombia through their global integration with the Nuvei platform include card authorization rate uplift, reduced settlement times from days to potentially less than 24 hours, and optimized processing resource commitments.
Latin America is one of the world’s fastest-growing regions, making it an increasingly attractive region for international eCommerce businesses. Within LATAM, Colombia is the third-largest eCommerce market, reaching US$42.3 billion in volume in 2023. Annual volume in Colombia is forecasted reach US$87 billion in 2026 at a projected compound annual growth rate (CAGR) of 27%.[1]
Philip Fayer, Nuvei Chair and CEO, commented on the announcement: “Launching our direct local acquiring capabilities in Colombia augments our presence in LATAM and reinforces our commitment to growth in the region. We are already active in more than eleven markets in LATAM through direct integration into local acquirers and networks, and adding direct local acquiring capabilities in Colombia strengthens our ability to provide best-in-class services to our customers across the region.
”With local acquiring capabilities in 50 markets and connectivity to 680 local APMs, Nuvei is elevating payments to a hyper-localized level on a global setting, and supporting businesses to expand internationally while still optimizing their payments function.
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 680 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://paymentscmi.com/insights/colombia-e-commerce-market/
Nuvei rolls out an enhanced omnichannel solution, empowering businesses with unified commerce.
MONTREAL, February 7 2024 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that it is launching its enhanced omnichannel payments solution for merchants and platforms. Nuvei’s unified commerce offering, which is now available to customers operating outside of North America for the first time, is enabling businesses to develop new customer payments experiences with greater control and unified analytics effortlessly.This proprietary, flexible solution supports merchants and partners by enhancing their payment offering across a wide variety of use cases. Businesses from diverse end markets including consumer retail, restaurant and hospitality, travel, and iGaming are leveraging Nuvei’s omnichannel technology to offer their customers an enhanced, convenient experience at the checkout specifically tailored for each channel, however and wherever consumers want to pay.
Philip Fayer, Nuvei Chair and CEO, commented on the announcement: “A unified approach to payments across channels is increasingly critical for businesses to meet customer expectations, optimize revenues, and accelerate growth. Combining industry-leading technology in online and retail payments into a single, truly unified solution not only supports our existing customers to meet their growth goals, but also opens exciting new opportunities as we execute on our strategy to develop new use cases for the Nuvei platform and grow our total addressable market.”Nuvei’s unified commerce omnichannel solution deeply aligns the best of its card-present (“CP”) and card-not-present (“CNP”) technology for eCommerce, mobile, and in-store transactions. This enables merchants to unify their online and retail payment acceptance into a single, seamless integration for multiple jurisdictions without compromising the agility required to customize and scale payments effortlessly to facilitate growth.
Additional features of unified commerce for consumers include the ability to buy or add products to the checkout basket through one channel and amend the purchase or request a refund through another. Businesses are also able to run separate pricing, loyalty and incentive programs for online and physical channels.
Nuvei’s platform features a single view of comprehensive reporting analytics and insights for both CP and CNP transactions, equipping businesses with the data required to make the smarter, more informed decisions required to optimize their payments function holistically. Other streamlined operations through a common API optimizes payments further, including a single consistent developer experience and centralizing payment processing across channels through tokenizing transactions. Nuvei’s flexible approach to retail payments hardware enables merchants to utilize its in-house, semi-integrated cloud solution Verifone Android terminals, or to adopt a ‘bring your own device’ model. Nuvei’s in-house solutions are constructed using the latest hardware technology and are fully customizable, enabling businesses to craft custom value-added applications tailored to their unique needs.
In addition to accessing each element of its full stack payments technology through the same single integration for multiple geographies, Nuvei’s global reach, including local acquiring capabilities in 50 countries and connectivity to 680 alternative online payment methods (APMs), enables businesses to scale their omnichannel payments internationally as they expand into new markets. Nuvei’s unique approach to global customer support from integration through to geographic expansion simplifies the pursuit of growth further.
Fayer continued: “As businesses expand into new markets, they are increasingly looking to partner with payments providers that can remove complexity while still offering the agility and insights to optimize growth. Omnichannel payments are intricate, so it is imperative for customers to work with a partner that understands their business to optimize revenue and the customer experience. Our omnichannel solution enables businesses to reach customers through payments on every channel effortlessly.”
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 680 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 IR@nuvei.com
Unlock seamless online payments with Nuvei and Cash App Pay partnership. Perfect for U.S. businesses aiming to boost customer satisfaction and sales.
MONTREAL, February 1 2024 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that is has partnered with Cash App, a fast and simple payment method that enables U.S. customers to make online payments either by scanning a simple QR code or by tapping Cash App Pay during the checkout process. Partners in the U.S. can seamlessly add Cash App Pay to their online checkout through their existing integration with Nuvei.
Cash App Pay’s simple, intuitive payment experience encourages customers to return to repeat shop, as well as appeals to younger consumers by providing them with a convenient way to pay using their Cash App balance or linked debit card. In addition to winning new customers, diversifying away from a reliance on card payments also boosts overall payment acceptance rates and optimizes costs, boosting revenue acceleration further.
Philip Fayer, Nuvei Chair and CEO, commented on the announcement: “Cash App Pay is being rapidly adopted as a payment method in the U.S., especially with younger consumer demographics. Our mission is to support our partners to engage with their customers, wherever they are and however they want to pay. This partnership enables businesses to integrate Cash App Pay into their online payments experience effortlessly, attracting new customers and accelerating revenue growth in the process.
”This announcement is the latest from Nuvei as it continues to build out its industry-leading portfolio of alternative payment methods (APMs) for its partners to access through a single integration. Nuvei’s agile, customizable platform enables businesses to effortlessly tailor their online checkouts with all the relevant APMs in each market they operate.
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 680 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
About Cash App
Cash App is the money app. It's the easy way to spend, send, and store money. Sending and receiving money is free and fast, and most payments can be deposited directly to a bank account in just a few seconds. With Cash App, customers can also buy and sell Bitcoin instantly, get a paycheck deposited right to the app, create a unique $cashtag to share with anyone to get paid, and use the Cash App Card to spend the money anywhere VISA is accepted. Download Cash App for free at cash.app/download.
Debit cards issued by Sutton Bank pursuant to a license from Visa U.S.A., Inc. Visa is a registered trademark of Visa U.S.A., Inc. All other trademarks and service marks belong to their respective owners.
Contact: Public Relations
Investor Relations
Explore how Nuvei's partnership with Adobe enhances ecommerce payments. Dive in for innovative, customer-focused solutions.
Key highlights:
MONTREAL January 23 2024 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company announces today that they are partnering with Adobe to provide customers access to their payments technology through their existing integration with Adobe Commerce, which is part of Adobe Experience Cloud, and enables businesses to create, manage and scale their commerce offerings. The partnership enables B2B and B2C businesses operating on Adobe Commerce to simplify payments relationships and expand into new markets.B2B and B2C businesses specializing in a wide spectrum of verticals including retail and consumer products, manufacturing, technology, and healthcare, can benefit from the reduction in complexity of a single integration to Nuvei’s agile, full stack technology.
Nuvei’s API integration to over 680 regional alternative payment methods (APMs) enables Adobe Commerce merchants to reach their customers, where they are and however they want to pay, through local, tailored payment experiences. Businesses are also able to expand internationally through the same, single integration.
In addition to offering APMs in markets across the globe, Adobe Commerce customers can also enable Automated Clearing House (ACH) account-to-account transactions in the U.S.
Growth in both volume and value of account-to-account payments continues to be rapid in the U.S. for both B2C and B2B transactions, and this trend is set to continue as consumer adoption accelerates alongside the introduction of the FedNow instant payment infrastructure to the existing Clearing House Real Time Payments network.“After a record-setting holiday season for eCommerce, businesses are having to adapt quickly to keep up with customer demand for personalized and convenient online shopping experiences,” said Jason Knell, Senior Director of Content and Commerce Partnerships at Adobe. “By working with Nuvei, Adobe Commerce provides merchants greater flexibility in the payment experience, for consumers shopping online, as well as across B2B channels.”
“We want to enable our customers to reach their customers, wherever they are in the world and however they want to conduct ecommerce,” said Philip Fayer, Nuvei Chair and CEO. “For businesses, an effective, personalized approach to payments strategy is key, and that is what this partnership is delivering for users of Adobe Commerce.”
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 680 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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Public Relations
Elevate your business with Nuvei's ERP integration for Microsoft Dynamics 365. Streamline payments and financial operations today.
MONTREAL, January 30 2024 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that is has launched its first integration into Microsoft Dynamics 365 Business Central, an Enterprise Resource Planning (ERP) solution for small and medium-sized organizations.
Businesses across the globe can now seamlessly integrate all relevant payment methods including card payments and instant bank transfers (including ACH transactions in the U.S.), and disbursement services into their business operations through their existing Dynamics 365 Business Central module. Nuvei’s deep knowledge of embedded ERP payments and best-in-class accounts receivable (AR) automation software is removing friction around accounting workflows, back-office reconciliation, and streamlining performance for finance departments of Business Central customers in verticals such as manufacturing, distribution, wholesale, and construction.
Nuvei's robust integration and proprietary technology includes invoice matching and proprietary cash acceleration tools, which can be leveraged to enable shorter DSO (Days Sales Outstanding) or receivables cycles. Businesses can also access near-real-time payment information, enabling them to reconcile financial information across systems with greater efficiency which enables faster, more informed decision-making.
Nuvei Chair and CEO Philip Fayer commented on the announcement: “Our mission is to enable our customers to accelerate their growth through better engagement with their customers. Our technology and expertise of B2B payments and ERP systems enables us to equip businesses with payments through their integrated commerce platform to reach their customers, improve working capital, and drive internal efficiencies.”
“Payments, including AR automation, is a critical component of the user experience for ERP. We’re thrilled that Nuvei has integrated their payment platform with Microsoft Dynamics 365 Business Central, enhancing our offering for our customers,” said Mike Morton, Vice President, Dynamics 365 Business Central at Microsoft.
This announcement is the latest from Nuvei as it continues to build upon two decades of experience in the B2B payments space and expand its sizeable portfolio of ERP integrations during a period of rapid growth for the industry. In total, B2B payment volumes are expected to exceed $120tn this year.
Fayer continued: “Integrating our payments technology to the market leader in ERP directly connects us to thousands of businesses and millions of users across the globe in a market with substantial total addressable market (TAM). This is an exciting strategic milestone as we grow our emerging payments channel.”Integrating Nuvei to Dynamics 365 Business Central is the latest stage in the rollout of the global payments collaboration with Microsoft that was announced last month. Nuvei will continue to explore ways to work collaboratively with Microsoft across geographies and use cases through this partnership.
About Nuvei
uvei (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 680 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 elevates Galeries Lafayette UAE's online payments, enhancing customer experience and global market reach. Learn more about the partnership.
MONTREAL, January 16 2024 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, is today announcing its strategic partnership to provide payments for Galeries Lafayette UAE's eCommerce platform. Galeries Lafayette UAE is a subsidiary of French Department Stores LLC, the esteemed French department store in Dubai Mall, synonymous with fashion and events for over 130 years.
Nuvei is enhancing Galeries Lafayette UAE’s payment capabilities, facilitating their expansion into global markets and driving better authorization rates. Nuvei is leveraging its smart routing capabilities and 3D Secure (3DS) technology integration to increase transaction success rates while maintaining the strongest stance on security.
The eCommerce platform will benefit from Nuvei’s proactive approach to payment optimization, by receiving detailed, in-depth analysis on improving its authorization rates securely via 3DS. The Nuvei cPanel, a platform designed to offer merchants real-time analytics and reporting at the transaction level, will offer the department store an unprecedented level of control and insight into their payment processes, further driving payment optimization.
Though its partnership with Nuvei, Galeries Lafayette UAE's eCommerce platform is also integrating popular digital wallets such as Apple Pay and Google Pay into its online checkout, giving its customers a more flexible and seamless payment experience. Nuvei expects the partnership to expand into additional markets with more payment methods beyond wallets and cards added into the payment flow.
"We chose Nuvei as our payment partner for its in-depth understanding of our needs as well as its proven track record,” said Patrick Abchee, Head of Digital Business at Galeries Lafayette UAE. “Nuvei’s sophisticated technology and comprehensive analytics will play a crucial role in maximizing our transaction authorization rates, while offering us the ability to easily expand into new markets,” he added.
Philip Fayer, Nuvei Chair and CEO, commented on the announcement: "Our technology ensures that our customers are able to optimize their payment flow – even in markets such as the UAE, where acceptance rates have characteristically been lower. We are delighted to partner with Galeries Lafayette UAE and look forward to enabling the business to maximize its eCommerce sales and accelerate revenue growth."
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 680 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
Euroairlines teams up with Nuvei for an advanced payment portal, aiming to enhance revenue and expand market reach. Dive into the partnership details.
MONTREAL, January 18, 2024 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today its partnership with Euroairlines, a Spanish-based aviation operator known for its comprehensive passenger and freight services. This collaboration marks a pivotal step in Euroairlines' strategy to grow its business and enhance payment processing in its main markets across the US, Europe, and Latin America, and further signifies Nuvei’s continued momentum as the partner of choice with global airline customers.
Euroairlines is a Spanish airline founded in 2000 and based in Castellón, Spain. In 20 years, Euroairlines has performed more than 2,000 flights to more than 200 destinations carrying more than 3,000 passengers. Euroairlines provides both cargo and passenger commercial and distribution services in Europe and northern Africa through a robust and low-cost solution.
Nuvei is supporting Euroairlines in launching its newly developed online B2B2C portal, which enables the airline to process direct traffic for the first time. Once the portal is launched, customers will be able to use aggregators to search and purchase Euroairlines flight tickets directly, without having to use an online travel agency. Nuvei is processing all direct transactions captured through the portal and enabling Euroairlines customers to pay using cards (Visa, Mastercard and soon American Express) as well as modern digital wallets such as ApplePay and GooglePay.
Euroairlines CEO, Antonio Lopez-Lazaro commented on the agreement: “Partnering with Nuvei aligns perfectly with our growth plans. Their agile payment technology is enabling us to add an additional revenue stream with the launch of our portal, and we look forward to continuing our collaboration and adding more payment methods in the future.”
Through the UATP-Nuvei partnership, indirect traffic for Euroairlines will be processed via UATP One Merchant Services (Universal Air Travel Plan) for both BSP (Billing and Settlement Plan) and ARC (Airlines Reporting Corporation) transactions. Euroairlines adds to the growing list of airlines globally utilizing UATP One for processing services.
Philip Fayer, Nuvei Chair and CEO commented: "We are excited to partner with Euroairlines to support the launch of their direct channel and process transactions from their indirect channel. Our collaboration is a step forward in optimizing their payment strategy and fueling Euroairlines' ambitious growth plans; and we are delighted to be a part of their journey.”Fayer added, “The UATP One product is opening doors for Nuvei and UATP, and we look forward to continuing to grow our partnership.”
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 680 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 Familiprix's digital leap with Nuvei, enhancing online pharmacy payments for a seamless customer experience. Learn more now.
MONTREAL, December 13, 2023 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, is today announcing its partnership with Familiprix, a leading retail pharmacy network based in Quebec, Canada, to launch an eCommerce app that enables their affiliated pharmacists to accept online payments for the first time.
Through its full suite of payment services, including authorization, settlement, and user management solutions, Nuvei is empowering the pharmacists of Familiprix to optimize their payment operations, maximize acceptance rates, and provide a frictionless and secure checkout experience for eCommerce customers. Nuvei’s full stack core payments platform, including its Web Store Front technology, is enabling Familiprix customers to shop and pay online via credit cards, as well as all the relevant alternative payment methods in Quebec.
Familiprix’s network, which comprises over 400 independent pharmacies located across Quebec and New Brunswick, serves local communities with a wide range of pharmaceutical and health-related products and services. With a strong commitment to customer satisfaction, Familiprix’s network is both extending its market reach to new customers and enhancing the shopping experience by enabling consumers to make purchases through an e-commerce platform for at-home delivery or in-store pick-up for the first time.In addition to enabling consumers to pay conveniently, Nuvei is also supporting Familiprix to onboard new pharmacies to accept online payments efficiently when they join the Familiprix network. Familiprix’s Control Panel Master Account enables management of each store in the independent network through a single CPanel login, while individual pharmacy agents can simultaneously access Nuvei’s Control Panel PayLink solution.
Charles Nadeau, Familiprix E-commerce and Digital Experience Director, commented on the announcement: “It is a big step for Familiprix and our affiliated members to launch an e-commerce platform and we are glad that Nuvei supported us to handle the online payment. Being able to accept online payments for the first time is a step-change in the service we can offer our customers. The process to launch our online checkout with Nuvei has been very smooth. We’re looking forward to growing our partnership in the future, and to attracting more consumers interested in buying online at www.familiprix.com.
”Philip Fayer, Nuvei Chair and CEO, commented: "We are thrilled to partner with Familiprix to support its digital transformation journey. Our solutions and expertise will enable Familiprix to move seamlessly into the digital commerce space and accelerate its revenue growth through winning new customers and optimizing payments. As a global payments company with a deep Canadian heritage, we are proud to be working with such a strong Canadian brand that is depended upon by so many Quebec and New Brunswick citizens.”
About Familiprix
Familiprix, with its headquarters in Québec City, consists of 431 pharmacies with over one billion dollars in retail sales. Recognized by its forward-thinking mindset and high level of professionalism, Familiprix and it’s affiliated members employs more than 7000 people throughout its network and covers all of Quebec and parts of New Brunswick. The banner’s pharmacies are organized by surface area into four categories: clinique, régulière, extra and santé which is focused on people and healthy lifestyles.
Familiprix is among the most admired companies in Quebec (source : Reputation Study, Léger, 2023) and ranks first regarding the consumer experience in the pharmacy sector (Source : Wow study, Léger, 2023)Familiprix is one of the few group of independent pharmacist-owners with its own distribution centres. Located in Quebec City, the centres supply the daily needs of pharmacies owned by their affiliated members.Familiprix is a group of dynamic healthcare professionals who are actively involved in their communities and listen to the needs of their clients.
For more information, visit www.familiprix.com
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 more than 669 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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Public Relations
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Discover how Blik enhances Nuvei's APM suite, boosting your online sales. Act now for seamless payment solutions.
MONTREAL, November 13, 2023 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that it has added direct connectivity to BLIK, the leading mobile payment method (APM) in Poland, into its suite of 669 APMs available for eCommerce businesses to offer through a single integration.
BLIK enables users to make instant payments directly through their mobile banking app. The APM is connected to 19 of the country’s leading financial institutions and has enabled almost 2.8 billion transactions valued at 371.4 billion Polish zloty in just 8 years. Consumers with a bank account with any of these institutions can complete an online transfer by requesting a BLIK payment in the merchant’s eCommerce checkout, and entering a six-digit code that is generated in their online banking app.
In addition to traditional BLIK payments, Nuvei also enables merchants to offer BLIK One Click. After the initial transaction, the consumers’ financial details are stored, meaning subsequent transactions can be completed through a single-click user experience.
Nuvei Chair & CEO Phil Fayer commented: “It is critical for eCommerce businesses to offer their customers a choice of all the payment methods they prefer, and BLIK is rapidly becoming one of the most relevant payment methods in Poland. Adding BLIK to our suite of over 600 APMs through a single integration enables our partners to efficiently reach their customers more completely.”
BLIK is a common standard for mobile payments. Currently, virtually every customer of domestic payment institutions offering a mobile application has the option of using BLIK in mobile banking applications. Polish Payment Standard (Polski Standard Płatności, PSP) is responsible for the development of the system. PSP constantly develops BLIK's capabilities so that the system is as functional as possible. The shareholders of PSP are: Alior Bank, Bank Millennium, Santander Bank Polska, ING Bank Śląski, mBank, PKO Bank Polski, and Mastercard.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 47+ markets, 150 currencies and 669 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
IR@nuvei.com
Discover how Nuvei's collaboration with Microsoft revolutionizes global payments. Secure, versatile solutions await.
MONTREAL, December 4 2023 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that it has partnered with Microsoft to deliver leading payment experiences for customers of its products, solutions, and services across many of its key markets.
Microsoft will start using Nuvei’s customizable and agile payments technology in the Middle East and the Africa region, while benefiting from Nuvei’s deep knowledge of local markets to optimize its payments for recurring billing and individual transactions across both its Office and Xbox product ranges.
Other benefits of Nuvei’s global payments capabilities Microsoft is harnessing include optimized authorization rates through local acquisition and superior risk management that minimize false declines, as well as Nuvei’s ability to offer all of the relevant local alternative payment methods (APMs) to each market through a single integration.
Philip Fayer, Nuvei Chair and CEO said: “Enabling Microsoft to connect to its customers across a wide range of products is testament to our technology and dedication to world-class customer service. We’re excited to optimize payments for such a universal brand that is trusted and relied upon by so many people.”
“We're pleased to extend our payment solutions to the Middle East and African region,” added Ajith Thekadath, Vice President Global Payments at Microsoft. “Whether it is a one-off purchase, software subscription, or in-game purchasing, payments are critical to our overall customer experience. Partnering with Nuvei enables our customers to pay wherever they are and whenever they want to.”
Extending the partnership across geographies and use cases
Nuvei and Microsoft are committed to extending this partnership across additional markets, as well as exploring new use cases to enhance the overall Microsoft experience. This includes Microsoft Dynamics 365, its business applications technology suite that drives operational efficiency and improved enterprise resource management.Fayer commented: “As two innovative, technology-led businesses that provide solutions to many of the leading international brands across the globe, it makes sense to explore how we can work more cooperatively as we grow our commercial relationship.”
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the global fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 47+ markets, 150 currencies and 669 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's commitment to top-tier security is ISO certified. Explore what this means for your business's safety today.
MONTREAL, December 12, 2023 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that it has received official certification under ISO ISO27001 and ISO27017 for information security management. This extends the Company’s certification to include all regions globally, as well as Nuvei’s full cloud environment.
The certification shows Nuvei’s commitment to implementing the most stringent security guidelines available. The Company first received certification under ISO 27001 in 2020, for its European entity, Nuvei Limited. The certification has now been extended to cover the company’s global operation, under Nuvei Corporation as well as adding ISO27017. ISO27017 is a global security standard developed to create a safer cloud-based environment for both providers and users.
The certification further solidifies Nuvei’s position as a leading payment technology provider offering a diverse set of payment capabilities built on cloud native architecture. These capabilities enable high-growth eCommerce merchants to accept well over 600 payment methods globally, and provide reconciliation, fraud prevention and risk management services, all through one integration.
Nuvei Chair and CEO, Philip Fayer commented on the certification: “Building on our existing ISO 27001 certification and now adding ISO 27017, reflects our relentless commitment to providing our customers with the safest possible environment for all their transactions. Our products are designed to accelerate revenue for our business customers and having the right security certifications in place provides the perfect foundation to build on in achieving this ambitious goal.”
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 669 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
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Discover why Solutions by Text chose Nuvei for seamless embedded payment solutions. Enhance your transactions now.
MONTREAL, November 21, 2023 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that it has been selected by Solutions by Text (SBT), a leading platform that enables consumer finance businesses to engage their customers in real-time time over text, to launch its embedded payments function.
This partnership facilitates SBT’s customers to streamline their billing and payments processes through SBT’s FinText platform. Consumers who receive text notifications that a bill is due are now able to initiate the transaction directly through messaging instead of via a separate online portal or physical payment. This greatly enhances the overall consumer experience. In addition to card payment processing, SBT’s single integration with Nuvei’s core platform technology enables businesses to accept payments from all relevant alternative payment methods (APMs), including account-to-account transactions (e.g. ACH in the U.S.) and digital wallets such as Google Pay and Apple Pay.
Enhancing the speed and convenience of the user experience will not only help SBT strengthen its connections with consumers, but also lead to increased digital payment rates and reduced resource commitment in managing payments.
David Baxter, CEO of Solutions by Text, commented on the announcement: “We’re dedicated to offering consumer finance businesses a solution with the ultimate consumer experience for paying bills. Partnering with Nuvei to enable customers to make payments directly through texts smoothly and securely is a huge upgrade that will underpin our future market expansion and growth.
”Philip Fayer, Nuvei Chair and CEO, added: “We’re thrilled to partner with Solutions by Text to bring this huge consumer experience upgrade to the consumer finance market. Enabling payments of bills directly through text reminders is another example of how businesses can get closer to their customers through payments.”
About Solutions by Text
Solutions by Text (SBT) is the pioneer of FinText™, empowering consumer finance companies to engage, interact and transact with their consumers in real-time. SBT has been providing compliance-first enterprise conversational messaging solutions since 2008. Solutions by Text's vision is to bring real-time payments to the text channel, creating a seamless and optimized bill pay experience for businesses and their consumers.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 47+ markets, 150 currencies and 669 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
Elevate your payment experience with Nuvei's latest card issuing service. Transform how you transact today.
MONTREAL, November 28, 2023 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that it has launched its card issuing solution in 30 markets globally. Nuvei clients can now offer their customers, employees, or contractors physical and virtual white-labelled cards.
The company’s global acquiring footprint, combined with the newly launched issuing capability, creates a differentiated value proposition for both Nuvei and its clients. The combination of issuing and acquiring capabilities offers revenue accelerating benefits to customers through same day funding, on-us processing, interchange optimization, and instant transaction reporting.
The new offering is currently available in 30 markets across the European Economic Area, with a roll-out to the UK, US and Latin America planned for 2024.
The new service will offer businesses a variety of use cases, including:
There are multiple benefits Nuvei issued cards can bring to businesses, their employees, and their customers. These include:
Nuvei Chair and CEO, Philip Fayer commented on the announcement: “We’re thrilled to launch card issuing as an additional module to our full stack technology platform. This solution has practical applications for our clients, benefiting their customers by improving their own working capital and simplifying their back-office processing. The launch of our card issuing solution is another example of our dedication to finding new ways to accelerate the business of our clients across the different verticals we operate in, all while growing our own total addressable market.”
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 47+ markets, 150 currencies and 669 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
Stay updated with Nuvei's Q3 earnings call time change. Mark your calendars and join us for crucial insights.
MONTREAL, November 2, 2023 – Nuvei Corporation (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today announced that, to better accommodate schedules, it will be moving the third quarter 2023 earnings conference call 30 minutes earlier to begin at 8:00 am ET on Wednesday, November 8, 2023.Nuvei plans to release its third quarter 2023 financial results along with a shareholder letter prior to the conference call. Hosting the earnings conference call at 8:00 am ET on Wednesday, November 8, 2023, will be Philip Fayer, Chair and CEO, and David Schwartz, CFO.
The conference call will be webcast live from the Company’s investor relations website at https://investors.nuvei.com under the “Events & Presentations” section. A replay will be available on the investor relations website following the call.
The conference call can also be accessed live over the phone by dialing 877-425-9470 (US/Canada toll-free) or 201-389-0878 (international). A replay will be available one hour after the call and can be accessed by dialing 844-512-2921 (US/Canada toll-free) or 412-317-6671 (international); the conference ID is 13740869. The replay will be available through Wednesday, November 22, 2023.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 47+ markets, 150 currencies and 634 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: IR@nuvei.com
Discover how KoreConX's partnership with Nuvei revolutionizes payments on its investment platform.
MONTREAL and NEW YORK, November 1, 2023 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that it has been selected by KoreConX, a leading infrastructure technology platform that enables individuals to invest in private companies with regulated intermediaries, as its primary payments partner.
Through its global partnership with Nuvei, private businesses based in the U.S. that are connected to the KoreConX infrastructure platform can accept SEC-compliant investments from as little as $50 via card payments and account-to-account transactions. Nuvei’s international reach connects these businesses to potential retail investors wherever those investors are located.
In addition to investors and businesses, the KoreConX technology infrastructure connects broker-dealers, FINRA registered funding platforms, Marketplaces ATS and auxiliary investment services to the private investment sector. KoreConX’s partnership with Nuvei enables all parties in the ecosystem, including businesses and investors, to interact on a modern scalable payments technology infrastructure that is fully capable of streamlining compliant investor transactions.
The market for investment in private companies has grown exponentially since the introduction of the Jumpstart Our Business Startups (JOBS) Act in 2012, which eased the requirements for private businesses and entrepreneurs to raise capital following the 2008 financial crisis to boost economic growth. Many industry participants reacted to the new legislation by creating inefficient and non-compliant solutions that have fallen outside SEC regulations and been subject to redemptions and fines. KoreConX is the first infrastructure platform that is fully compliant with SEC regulations.
KoreConX CEO and Co-Founder Oscar A. Jofre commented on the announcement: “KoreConX is democratizing investment in private companies, enabling individuals to invest alongside institutions safely, securely, and compliantly for the first time. In 2012 this wasn’t possible at all; today the market cap for this industry is billions of dollars and still rapidly accelerating. But trust is everything, and KoreConX is leading the way in offering a mechanism for investing that is compliant with SEC regulations.”Jofre continued: “We needed a payments partner with capabilities that extend beyond our requirements from a technology, reach, and customer services standpoint. It was also critical to find a payments partner with a deep understanding of our business, and that could supplement that level of trust and comfort in the eyes of investors that underpin our platform. We’re delighted to have found a partner in Nuvei that exceeded our expectations across all of these important mandates.”
Nuvei Chair and CEO Philip Fayer added: “We’re excited to partner with KoreConX as it reshapes the investing landscape for private businesses. Facilitating SEC-compliant investments for entrepreneurs and private businesses is a game-changer for democratizing investing.”
About KoreConX
Founded in 2016, KoreConX is the first secure, All-In-One platform that manages private companies’ capital market activity and stakeholder communications. With an innovative approach and to ensure compliance with securities regulations and corporate law, KoreConX offers a single environment to connect companies to the capital markets and now secondary markets. Additionally, investors, broker-dealers, law firms, accountants and investor acquisition firms, all leverage our eco-system solution.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 47+ markets, 150 currencies and 634 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 and American Express streamline payments for merchants and customers. Dive in for a smoother transaction journey.
MONTREAL, November 2, 2023 – Pay with Bank transfer, powered by American Express (“PwBt”), announces it has selected Nuvei Corporation (“Nuvei”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, as its first acquirer authorised to promote and sell PwBt’s Open Banking-enabled payment method.
The innovative payment method enables consumers to complete transactions seamlessly from their bank accounts, without having to enter card details or complete additional authentication checks. For merchants, PwBt delivers a frictionless payment where funds are reconciled instantly, with attractive processing fees. Nuvei will be promoting PwBt to both existing and prospective UK merchants, supporting them with the integration of the Open Banking payment method into their ecommerce platforms.
In the UK, more than seven million consumers are making payments directly from their bank accounts that are powered by Open Banking. Companies in the travel and utility sectors have been early adopters, with the security benefits of PwBt making it an attractive option for high value, one off payments, such as holidays, and seamless and instant bill payments.
Nuvei customers will be able to integrate PwBt directly into their online checkout through their existing connection to Nuvei technology. Nuvei’s agile and customizable full stack payments solution enables online businesses to optimize their checkouts and back-end payments flow through one connection, streamlining relationships and giving a single view of all payments data from all customer transactions.
Philip Fayer, Nuvei Chair and CEO, commented: “We’re proud to be offering Pay with Bank transfer to our merchant partners to help them meet growing customer demand for efficient, secure payment options. “Our mission is to enable our customers to get closer to their customers through payments, wherever they are and however they want to pay. Powered by American Express, but available to anyone with a UK bank account, we know Pay with Bank transfer goes above and beyond to ensure a secure, yet frictionless, service that is available to everyone, and we’re delighted to be working together to bring these benefits to a new customer base.”
Holly Coventry, Vice President, International Open Banking Payments, said: “In today’s digital-first world, consumers are looking for simple and secure ways to make payments. Merchants that recognise this are seeing stronger conversion numbers and reduced cart abandonment. “The partnership with Nuvei will help us bring PwBt to more merchants, addressing these pain points and offering them a host of other benefits such as instant reconciliation and attractive processing fees. “This will help ramp up more widespread consumer adoption as the more frequently they’re given the option to use Open Banking payments, the more they will begin to trust and understand the benefits.”
All Nuvei partners that sell to consumers in the UK can now instantly integrate PwBt. The technology is powered by American Express but open to everyone with a UK bank account, meaning that customers can benefit from the frictionless payment method and enjoy American Express’ bank-level security.
Diving deeper into exploring what needs to happen to fully realise the potential of Open Banking payments from entering the mainstream, Nuvei and American Express are publishing a co-authored whitepaper: Reaching the tipping point: What needs to happen to realise the potential of Open Banking payments. The whitepaper examines consumer attitudes, awareness and understanding of Open Banking payments, and explores the factors which could be influencing or inhibiting merchant adoption.
Reaching the tipping point: What needs to happen to realise the potential of Open Banking payments is available to download now.
About American Express Pay By Bank Transfer
Pay with Bank transfer allows consumers to pay online or instore directly from their bank account. It unlocks the potential of open banking to deliver financial and processing benefits to merchants, while offering their customers a simple, speedy, secure way to pay. It’s powered by American Express but open to everyone. Email pwbt@aexp.com
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 47+ markets, 150 currencies and 634 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
Learn why Curve picked Nuvei to elevate the customer experience and spearhead its global growth.
MONTREAL and LONDON, October 19, 2023 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that it has been selected by Curve, the fast-growing financial super app that consolidates your cards into one smart card, to provide card acquiring and alternative payment methods (APMs) for consumer transfer of funds to and from their Curve digital wallet.
Nuvei’s agile, customizable, full stack payments technology enables the fintech app and card issuer to accept VISA and Mastercard transactions. Card payments are optimized through Nuvei’s smart routing engine to maximize card payment acceptance and reduce operating costs. All the relevant APMs in each market Curve operates will be available to Curve customers soon.
Curve also benefits from Nuvei’s customizable, real-time reporting tools, which enables the company to monitor all transactions through a single, comprehensive analytics portal. This capability is of particularly high relevance to the financial services industry, in order to route payments traffic effectively and optimize payments flow.
Curve’s Founder & CEO, Shachar Bialick, commented on the announcement: “Our goal at Curve is to be the most customer-centric app, simplifying the way they spend, so industry-leading customer experience is critical to Curve’s service. Consumers simply will not tolerate delays or the inability to transfer funds, so we are proud to partner with Nuvei. Their proven optimized card acceptance rates, platform stability and low latency guarantees that we’re offering the peak payments service to our customers.”
In addition to providing payments services in Curve’s established markets in Europe, Curve is leveraging Nuvei’s global acquiring reach to accelerate its international growth plans.
Bialick continued: “Nuvei enables us to accelerate our growth and scale at pace without compromising the optimization of our payments function. Partnering with a global payments provider fast-tracks our growth plans. Nuvei’s agile technology and single integration access to all the global APMs we need to localize payments anywhere in the world enables us to adapt quickly to changing conditions in the payments landscape in every market we currently operate or plan to operate in the future.”
Philip Fayer, Nuvei Chair and CEO, added: “Payments play a critical role in the user experience for financial services providers, and the market is becoming increasingly competitive. We are proud to partner with Curve to enhance the product it is offering to its customers, and to enable to Curve to reach its customers, wherever they are and however they want to pay.”
About Curve
Curve is a financial super app. Its mission is to be a one-stop shop for all the financial needs of a consumer; a single point of access to a wide range of financial products and services, bundling together all your money into one smart card and an even smarter app. Unlike other services available in the market today, Curve allows customers to connect and supercharge their legacy banks to the 21st century, without leaving their bank or signing up to a new bank. Curve is live in 31 markets across the UK and European Economic Area (EEA).Curve supports Mastercard, Visa and Diners Club networks. The Curve Card and e-money, related to cards issued in the UK, is issued by CurveUK Limited, authorised in the UK by the Financial Conduct Authority to issue electronic money (firm reference number 900926). The Curve Card and e-money, related to cards issued in the EEA, is issued by Curve Europe UAB, authorised in Lithuania by the Bank of Lithuania (electronic money institution license No. 73 issued on 22 of October, 2020).For more information go to www.curve.com, follow us on LinkedIn, Twitter @imaginecurve and Instagram @imaginecurve, or like our Facebook page.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 47+ markets, 150 currencies and 634 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
At Nuvei, we’re fast-forwarding to the next generation of payments. Our agile and customizable platform connects seamlessly with your existing technologies, boosts conversion rates, and offers unparalleled reporting. See how we can help you accelerate your business.
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