Nuvei enters global payments partnership with Microsoft

Rhea-AI Summary

Nuvei Corporation (Nasdaq: NVEI) (TSX: NVEI) partners with Microsoft to enhance checkout experience and open new revenue streams for customers. Nuvei's payments technology will be used in the Middle East and Africa, optimizing payments for recurring billing and individual transactions across Office and Xbox products. The partnership aims to extend to additional markets and explore new use cases, including Microsoft Dynamics 365.

Positive

• Partnership with a global brand like Microsoft opens new revenue streams for Nuvei
• Nuvei's technology will optimize payments for Microsoft's products across different markets and use cases

Negative

• None.

Nuvei's agile payments technology is enhancing Microsoft's checkout experience and opening new revenue streams for its customers

MONTREAL, Dec. 4, 2023 /PRNewswire/ -- 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

NVEI-IR

Contact: 

Public Relations

alexandra.bucur @nuvei.com  

Investor Relations

IR@nuvei.com

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SOURCE Nuvei

FAQ

What is the ticker symbol for Nuvei Corporation?

The ticker symbol for Nuvei Corporation is NVEI on Nasdaq and TSX.

What are the benefits of Nuvei's payments technology for Microsoft?

Nuvei's payments technology offers optimized authorization rates, superior risk management, and local alternative payment methods for Microsoft's products.

In which regions will Microsoft start using Nuvei's payments technology?

Microsoft will start using Nuvei's payments technology in the Middle East and the Africa region.

What are the future plans for the partnership between Nuvei and Microsoft?

The partnership aims to extend to additional markets and explore new use cases, including Microsoft Dynamics 365.