OnBuy selects Nuvei for digital marketplace payments
Nuvei Corporation (Nasdaq: NVEI) partners with OnBuy, a UK marketplace, to enhance payment services as part of its 2023 growth initiatives. This partnership aims to leverage over 580 alternative payment methods and advanced payment technologies, supporting OnBuy’s goal to expand and innovate its eCommerce platform. OnBuy has invested millions into upgrading its site ahead of its 2023 enhancements, focusing on creating a trusted marketplace. Nuvei emphasizes its role in helping clients accelerate revenues and expand internationally.
- Strategic partnership with OnBuy enhances Nuvei's presence in the UK market.
- OnBuy's investment of millions in technology upgrades could increase transaction volumes.
- Access to over 580 alternative payment methods positions Nuvei favorably for diverse customer preferences.
- Dependence on OnBuy's success may pose risks if OnBuy's growth initiatives do not meet expectations.
Partnership to help accelerate OnBuy’s 2023 transformation
Montreal and London, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today it has been selected by UK marketplace OnBuy as its payment partner to help the business execute on its growth initiatives in and beyond the UK.
OnBuy is investing in new, innovation-led partnerships using latest technologies to support the marketplace’s disruptive eCommerce model as it expands. The payment technology partnership with Nuvei is a key part of its growth strategy to cement its name as a trusted marketplace powerhouse in the UK.
OnBuy will draw on more than 580 alternative payment methods Nuvei provides and its on-demand payment technology support. Card processing and acquiring are also part of a mix of payment technology services provided to OnBuy by Nuvei.
“This partnership with Nuvei is the first step on our roadmap to give our customers and retailers a new, incredibly exciting version of OnBuy. We have invested millions of pounds in adding new features and functions to our site ahead of going live in 2023,” said OnBuy CEO Cas Paton.
“These changes require the most comprehensive, flexible, and scalable payment options. That’s why we partnered with Nuvei. We're dedicated to being a trusted eCommerce alternative, providing a fair and transparent marketplace that is always moving forward. Nuvei, with its excellent support and next-generation technology, is helping us succeed in that mission,” Paton added.
Commenting on the partnership, Nuvei Chair and CEO Philip Fayer said: “As a technology-first company, we're always innovating and developing new ways to help our customers accelerate their revenues and execute their own international expansion initiatives. We are delighted to be supporting OnBuy as they grow in the UK and beyond.”
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 45+ markets, 150 currencies and more than 580 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.
Attachment
FAQ
What is the partnership between Nuvei and OnBuy about?
When will OnBuy's new features go live?
How many alternative payment methods does Nuvei offer?
What is Nuvei's stock symbol?
