Nuvei enters new global partnership with Adobe to enhance eCommerce payments

Rhea-AI Summary

Nuvei Corporation partners with Adobe to provide customers access to their payments technology through a single integration with Adobe Commerce, enabling businesses to simplify payments relationships and expand into new markets. Nuvei's API integration to over 680 regional alternative payment methods (APMs) allows Adobe Commerce merchants to reach their customers with local, tailored payment experiences. Additionally, businesses can expand internationally through the same, single integration, and enable Automated Clearing House (ACH) account-to-account transactions in the U.S.

Insights

Market Research Analyst

The integration of Nuvei's payment suite with Adobe Commerce represents a strategic move in the fintech and e-commerce sectors. By offering a single API for a full range of payment options, the partnership addresses a growing demand for seamless payment experiences across various platforms. This is particularly relevant as e-commerce continues to expand, with businesses seeking to simplify the customer journey and reduce friction in the checkout process.

For businesses operating on Adobe Commerce, the ability to access a diverse set of payment methods, including local alternative payment methods (APMs), Automated Clearing House (ACH) transactions and one-click payments, can be a game-changer. It significantly enhances the customer experience by providing convenience and flexibility, which are critical factors in driving conversion rates and customer loyalty. Moreover, the expansion into international markets facilitated by this integration is aligned with the trend of globalization in e-commerce, enabling businesses to tap into new customer bases and revenue streams.

The mention of the FedNow instant payment infrastructure indicates a forward-thinking approach, as real-time payments are expected to become the norm in the near future. The ability to offer such services could position Adobe Commerce merchants at the forefront of payment innovation, potentially increasing their competitive edge.

Financial Analyst

The announcement of Nuvei's partnership with Adobe Commerce could have positive implications for Nuvei's financial performance, as reflected in its stock (NVEI). The integration widens Nuvei's potential customer base to include all businesses using Adobe Commerce, which could lead to increased transaction volumes and revenue growth for Nuvei. Furthermore, the ease of integration could result in a competitive advantage, attracting more e-commerce platforms to opt for Nuvei's payment solutions.

From an investor's perspective, the partnership may be seen as a strategic move to capture a larger share of the growing e-commerce market. As payment processing is a volume-driven business, Nuvei's expansion through Adobe Commerce could positively impact its market share and profitability. However, investors will likely monitor the adoption rate and customer feedback closely to gauge the long-term success of the partnership.

Given the rapid growth of account-to-account payments, as mentioned in the announcement, Nuvei's ability to process ACH transactions is particularly noteworthy. This positions the company to benefit from the increasing trend towards digital and instant payments in the U.S., which may contribute to sustained growth.

E-Commerce Specialist

The strategic partnership between Nuvei and Adobe Commerce is indicative of the evolving landscape of e-commerce, where a personalized and convenient payment experience is becoming a key differentiator for online merchants. The integration's emphasis on providing a full suite of payment options, including mobile and in-app payments, aligns with the shift towards mobile commerce and the increasing prevalence of app-based shopping experiences.

Additionally, the integration's support for over 680 local APMs suggests a strong focus on localization, which is essential for businesses looking to provide a tailored shopping experience to customers in different regions. This level of customization is crucial for businesses aiming to reduce cart abandonment rates and improve overall sales.

For B2B and B2C businesses, the simplification of payment relationships through a single integration can lead to operational efficiencies and cost savings. By reducing the complexity of managing multiple payment gateways and processors, businesses can allocate more resources to other growth-driving initiatives, such as marketing and product development.

Single API integration provides Adobe Commerce customers access to Nuvei's full payment suite

Key highlights

• Adobe Commerce customers can now access Nuvei's payment suite through a single API
• Nuvei's global reach and connectivity provides Adobe Commerce customers with access to card payment acceptance and 680 local alternative payment methods
• Full suite of payment types are available to Adobe Commerce customers, including online, offline, mobile, in-app, ACH, one-click and recurring payments

MONTREAL, Jan. 23, 2024 /PRNewswire/ -- 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."

NVEI-IR

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

alex.hammond@nuvei.com

Investor Relations

IR@nuvei.com

 

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SOURCE Nuvei

FAQ

What is the partnership between Nuvei and Adobe about?

Nuvei Corporation has partnered with Adobe to provide customers access to their payments technology through a single integration with Adobe Commerce, allowing businesses to simplify payments relationships and expand into new markets.

How many regional alternative payment methods does Nuvei's API integration support?

Nuvei's API integration supports over 680 regional alternative payment methods (APMs), enabling Adobe Commerce merchants to reach their customers with local, tailored payment experiences.

What additional transactions can Adobe Commerce customers enable in the U.S. through the partnership with Nuvei?

Adobe Commerce customers can enable Automated Clearing House (ACH) account-to-account transactions in the U.S. through the partnership with Nuvei.

What does the partnership aim to deliver for users of Adobe Commerce?

The partnership aims to deliver an effective, personalized approach to payments strategy for users of Adobe Commerce, enabling businesses to reach their customers, wherever they are in the world and however they want to conduct ecommerce.