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Nuvei Corporation (Nasdaq: NVEI, TSX: NVEI) is a leading provider of payment technology solutions, enabling businesses around the world to accept next-generation payments, offer a variety of payout options, and benefit from services such as card issuing, banking, and risk and fraud management. Headquartered in Canada, Nuvei’s modular, flexible, and scalable technology connects businesses to their customers in over 200 markets, with local acquiring in 50 markets and support for 150 currencies and 700 alternative payment methods, including cryptocurrencies.
Core Business
Nuvei delivers mobile, online, and in-store payment solutions across key geographical segments including North America, Europe, the Middle East and Africa (EMEA), Latin America, and the Asia Pacific. The company's technology is designed to optimize operating costs and boost conversion rates by consolidating payment solutions, maximizing payment acceptance, minimizing risk, and enhancing the consumer payment experience.
Recent Achievements and Current Projects
- In April 2024, Nuvei’s Singapore entity, Nuvei Singapore Pte Ltd, was granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore. This license allows Nuvei to operate domestic and cross-border money transfer services and merchant acquisition services in Singapore.
- Nuvei recently launched Invoice Financing services integrated into leading enterprise resource planning (ERP) platforms, such as Sage and Acumatica. This service helps merchants optimize cash flow and unlock working capital more efficiently.
- Nuvei partnered with Visa to offer Visa Direct in Colombia, enabling near real-time fund delivery directly to financial accounts using card credentials.
Financial Condition
Nuvei generates the majority of its revenue from North America and EMEA. The company’s financial condition remains strong, as evidenced by its recent strategic initiatives and partnerships aimed at expanding its global reach and service offerings.
Partnerships and Products
Nuvei’s strategic partnerships, such as with Mastercard and Visa, have strengthened its product offerings and market presence. The company's full stack modular payments technology platform supports over 700 alternative payment methods, ensuring businesses can offer a wide range of payment options to their customers.
For more detailed information, visit Nuvei's official website.
Nuvei has established a strategic partnership with Gaming Innovation Group (GiG), integrating its payment solutions directly into GiG's CoreX platform. This collaboration enables iGaming operators to optimize their payment functionality through GiG's AI-driven player account management solution.
The integration provides operators access to Nuvei's payment services across 200+ countries and 720 alternative payment methods through a single platform. CoreX, GiG's advanced platform, allows operators to localize operations in any regulated jurisdiction while leveraging Nuvei's 20+ years of industry expertise in payment optimization, risk management, and regulatory compliance.
The partnership aims to enhance acceptance rates and streamline payment processes for iGaming operators, facilitating their international expansion while improving player satisfaction and operational efficiency.
Nuvei has launched a blockchain-based payment solution for merchants across Latin America through partnerships with Rain, BitGo, and Visa. The solution enables businesses to use stablecoins, including USD Coin (USDC), for faster global settlement and reduced reliance on traditional payment methods.
The integrated system allows LATAM merchants to make payments using stablecoins from a digital asset wallet anywhere Visa is accepted, offering benefits such as faster cross-border transactions, secure digital asset custody, reduced currency complexity, and improved operational liquidity.
This launch is part of Nuvei's broader expansion in LATAM, where the company has already established direct local acquiring in Colombia, implemented local acquiring services in Mexico, and acquired a Payment Institution license in Brazil.
Nuvei has been selected by Delaware North's interactive gaming division to power deposits and payouts for Betly, their online casino and sports betting brand operating in West Virginia, Arkansas, Tennessee and Ohio. The partnership enhances player experience by streamlining checkout processes, leveraging Nuvei's local acquiring capabilities for card payment deposits and enabling real-time account-to-account transactions through their Instant Bank Transfer product.
Nuvei announced the completion of its going private transaction through a plan of arrangement with Advent International. The deal valued shares at US$34.00 per share. Following the transaction, ownership is distributed among Advent (46%), Philip Fayer (24%), Novacap (18%), and CDPQ (12%). Philip Fayer will continue as Chair and CEO, rolling approximately 95% of his shares into the new structure. The company expects delisting from TSX around November 18, 2024, and from Nasdaq around November 25, 2024.
Nuvei (Nasdaq: NVEI) has secured all necessary regulatory approvals for its previously announced going-private transaction through a plan of arrangement with Neon Maple Purchaser Inc., an entity formed by Advent International. The arrangement includes participation from Philip Fayer, investment funds managed by Novacap Management Inc., and CDPQ. The transaction, which received shareholder approval on June 18, 2024, and court approval on June 20, 2024, is expected to close around November 15, 2024.
Nuvei (NVEI) reported strong Q3 2024 financial results with total volume increasing 27% to $61.3 billion and revenue growing 17% to $357.6 million year-over-year. The company posted net income of $17.2 million, compared to a net loss of $18.1 million in the previous year. However, Adjusted EBITDA decreased 2% to $108.8 million, and Adjusted net income fell 8% to $52.3 million. The company is proceeding with its previously announced take-private transaction by Advent International, valued at approximately $6.3 billion or $34.00 per share, expected to close in Q4 2024. A quarterly dividend of $0.10 per share was declared, payable December 12, 2024.
Nuvei (Nasdaq: NVEI) (TSX: NVEI) has been named Payment Service Provider of the Year for the 2024 American Gambling Awards, produced by Gambling.com Group (Nasdaq: GAMB). This accolade highlights Nuvei's leadership in iGaming payment solutions and its commitment to empowering operators in the regulated U.S. online gambling industry.
With over 20 years of expertise, Nuvei offers innovative payment solutions tailored to the highly regulated U.S. market, connecting operators to over 200 local acquirers and more than 700 alternative payment methods. The company's services address critical challenges such as regulatory compliance and optimization of player engagement.
Nuvei's adoption of Open Banking through its Instant Bank Transfer platform, powered by Clearing House's RTP Network, showcases its commitment to addressing key operator payment challenges, including speed, reliability, and user experience.
Nuvei (Nasdaq: NVEI) (TSX: NVEI) has partnered with BigCommerce (Nasdaq: BIGC) to provide comprehensive omnichannel payment solutions to BigCommerce customers through its Nuvei for Platforms solution. The partnership, launching across North America, Europe, and APAC, offers a suite of services including payment acceptance, pre-authorization, refund management, advanced 3DS2 technology, multi-currency support, and embedded checkout integration.
Benefits for BigCommerce brands and retailers include bank-agnostic fast settlements, access to alternative payment methods, centralized payment management, and dedicated integration support. The collaboration aims to streamline operations, cater to diverse customer preferences, and optimize payment processing costs with same-day or next-day funding options.
JCB and Nuvei have expanded their global partnership to include Singapore and Hong Kong, enabling businesses in these markets to accept payments by JCB credit and debit cards through their existing Nuvei integration. This expansion builds on Nuvei's existing relationship with JCB in Europe, strengthening Nuvei's position in the rapidly growing Asia-Pacific (APAC) eCommerce market.
Key points:
- Nuvei now offers JCB acceptance to its global merchant ecosystem
- JCB's 158 million cardmembers can pay directly to online businesses integrated with Nuvei
- Nuvei is a fully licensed direct local acquirer in Singapore and Hong Kong
- Singapore's eCommerce market is predicted to grow at a CAGR of nearly 10%, reaching US$23.5 billion by 2027
- Hong Kong's eCommerce market is projected to grow at a CAGR of nearly 9%, exceeding US$7 billion by 2029
Nuvei (Nasdaq: NVEI) (TSX: NVEI) has announced new features and enhancements for its Nuvei for Platforms product. The upgrades aim to accelerate growth and drive revenue for various business models, including marketplaces, commerce platforms, and payment facilitators. Key features include:
1. Decoupled pay-ins and payouts for greater flexibility in managing cash flow and expanding geographic reach.
2. Split Payments for automatic transaction splitting and PSD2 compliance.
3. Auto Reconciliation to simplify accounting and operations.
4. Enhanced Balance Management and Seller Invoicing capabilities.
The Embedded Payments market is projected to grow from $83bn in 2023 to $730bn by 2032, presenting significant revenue opportunities for Nuvei. The company also recently acquired marketplace technology provider Payaut to further support innovation in the payments space.
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