Euroairlines selects Nuvei to accelerate its revenue and boost growth

Rhea-AI Summary

Nuvei Corporation partners with Euroairlines to process direct and indirect transactions globally, marking a pivotal step in Euroairlines' business growth strategy. Nuvei will support Euroairlines in launching its online B2B2C portal, enabling direct transactions and processing indirect traffic through the UATP-Nuvei partnership.

Insights

Market Research Analyst

The partnership between Nuvei and Euroairlines represents a strategic move that could potentially enhance the business operations of both entities. From a market research perspective, the integration of Nuvei's payment processing capabilities with Euroairlines' new B2B2C portal is a significant development. This initiative is expected to streamline the customer's purchase experience by eliminating the need for third-party online travel agencies, which could result in cost savings and increased customer loyalty.

Furthermore, the introduction of modern digital wallets, such as ApplePay and GooglePay, aligns with the increasing consumer preference for digital and contactless payment methods, especially in the post-pandemic era where such features have seen a surge in adoption. This could potentially lead to an increase in customer satisfaction and a wider customer base for Euroairlines.

It is also worth noting that the ability to process transactions for both direct and indirect traffic through UATP One Merchant Services could provide Euroairlines with a competitive edge in terms of transaction efficiency and financial reconciliation.

Financial Analyst

From a financial perspective, the collaboration between Nuvei and Euroairlines could result in a diversified revenue stream for Euroairlines through the direct sale of tickets. Direct sales typically offer higher profit margins than sales made through intermediaries due to the absence of commission fees. This new revenue stream could positively impact Euroairlines' financial performance and, in turn, potentially enhance investor confidence.

Nuvei's role in processing transactions for Euroairlines also indicates a growth in Nuvei's market share within the airline industry's payment processing sector. This expansion into global markets, including the US, Europe and Latin America, could contribute to Nuvei's revenue growth and strengthen its position in the fintech industry.

Investors should monitor the adoption rate of the new B2B2C portal and the subsequent impact on Euroairlines' sales volume, as well as any increase in processing volume for Nuvei, as these factors will be critical in evaluating the financial success of this partnership.

E-Commerce Specialist

The e-commerce landscape is continuously evolving and the airline industry is no exception. The launch of Euroairlines' online B2B2C portal signifies the airline's shift towards digital transformation. By leveraging Nuvei's agile payment technology, Euroairlines is positioning itself to meet the expectations of digitally savvy consumers who value convenience and flexibility in their purchasing decisions.

The ability to book flights directly via the airline's portal could lead to improved data analytics capabilities for Euroairlines. By collecting first-party customer data, Euroairlines can gain insights into consumer behavior, preferences and patterns, which can be used to tailor marketing strategies and optimize the customer journey. Such data-driven decision-making is crucial in the highly competitive airline industry.

Additionally, the partnership with Nuvei could enhance Euroairlines' cybersecurity posture by incorporating advanced payment security measures, which is a critical aspect of maintaining consumer trust in online transactions.

Nuvei, in conjunction with UATP, will process transactions for both direct and indirect traffic for Euroairlines in multiple regions globally

MONTREAL, Jan. 18, 2024 /PRNewswire/ -- 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

NVEI-IR

Contact: 

Public Relations

alexandra.bucur@nuvei.com

Investor relations

IR@nuvei.com

 

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SOURCE Nuvei

FAQ

What is the partnership between Nuvei and Euroairlines about?

The partnership involves processing direct and indirect transactions for Euroairlines globally, supporting the airline's business growth strategy.

What type of portal is Nuvei supporting Euroairlines in launching?

Nuvei is supporting Euroairlines in launching an online B2B2C portal, enabling direct transactions for the first time.

What payment methods will be available for Euroairlines customers through the portal?

Customers will be able to pay using cards (Visa, Mastercard, and soon American Express) as well as digital wallets like ApplePay and GooglePay.

How will indirect traffic for Euroairlines be processed through the UATP-Nuvei partnership?

Indirect traffic for Euroairlines will be processed via UATP One Merchant Services for both BSP and ARC transactions.

What did Euroairlines CEO, Antonio Lopez-Lazaro, say about the partnership with Nuvei?

Lopez-Lazaro stated that partnering with Nuvei aligns perfectly with their growth plans, enabling the addition of a new revenue stream with the launch of the portal.