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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.
GTCR announces Paya Holdings Inc. (NASDAQ: PAYA) is set to be acquired by Nuvei Corporation (NASDAQ: NVEI) for approximately $1.3 billion. This all-cash tender offer follows significant transformations within Paya, which processes over $45 billion in annual payments, serving more than 100,000 customers. GTCR has been Paya's largest shareholder since its 2017 acquisition and supported strategic growth, leading to this acquisition. The deal marks a major step in Paya's evolution in the integrated payments sector, enhancing its market presence.
Nuvei Corporation (NVEI) announced the acquisition of Paya Holdings (PAYA) in an all-cash transaction valued at approximately $1.3 billion, or $9.75 per share. This strategic move aims to enhance Nuvei's position in global eCommerce and integrated payments. The deal is expected to create a leading payment technology provider and accelerate growth by diversifying into key non-cyclical verticals with substantial total addressable markets, including B2B, healthcare, and government sectors. The transaction is projected to close by the end of Q1 2023 and is expected to be accretive to adjusted EPS in the same year.
Nuvei Corporation has partnered with Virgin Atlantic to enhance the airline's payment solutions, ensuring seamless and frictionless transactions for travelers. This collaboration will leverage Nuvei’s advanced modular platform, which aims to boost revenue and acceptance rates. The global travel industry is predicted to reach US$992.10 billion by 2026, with 73% of revenue coming from online sales, underscoring the importance of digital payments. This agreement follows similar partnerships Nuvei has made with other major travel brands, reflecting its commitment to innovate within the sector.
Nuvei Corporation (Nasdaq: NVEI) has launched Nuvei for Platforms, a global payment solution aimed at digital platforms, marketplaces, banks, and fintechs. This customizable product enables businesses to integrate payments into their platforms, either branded or white label. It includes comprehensive functionalities like merchant onboarding, pay-in and pay-out options, and fraud management, all in a single integration. CEO Philip Fayer emphasized the solution’s role in enhancing customer retention and revenue generation through superior payment experiences.
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.
Nuvei Corporation (Nasdaq: NVEI) announced its financial results for Q3 and nine months ended September 30, 2022. Key metrics include:
- Total volume grew 30% to $28 billion, with constant currency growth at 38%.
- Revenue increased by 7% to $197 million, though impacted by $11.5 million in foreign exchange losses.
- Net income dropped 54% to $13 million due to share-based payment increases.
- Cash balance remained stable at $754 million.
The company expects continued growth, reaffirming its full-year outlook.
Nuvei Corporation (Nasdaq: NVEI) has appointed Vicky Bindra as the new Chief Product and Operations Officer, effective November 14, 2022. Bindra, previously Chief Product Officer at FIS, brings extensive fintech experience, including leadership roles at Pine Labs, Mastercard, and Visa. His responsibilities will include overseeing product development and operations to enhance revenue generation for Nuvei’s customers. CEO Phil Fayer expressed optimism about Bindra's expertise and leadership, anticipating positive contributions to the company’s growth strategy.
Nuvei Corporation (Nasdaq: NVEI) has announced its third quarter 2022 financial results will be released on November 3, 2022, before market open. A conference call will follow at 8:30 am ET, led by CEO Philip Fayer and CFO David Schwartz. This call will be available via webcast on the company’s investor relations website, with a replay accessible after the live event. Nuvei operates in over 200 markets, providing scalable payment technology and fraud management services.
Nuvei Corporation (Nasdaq: NVEI) has introduced instant settlement options for merchants worldwide, specifically utilizing EUROC and USDT stablecoins. This enhancement allows merchants to benefit from round-the-clock liquidity, especially in regions lacking traditional payment solutions such as Instant SEPA or RTP. Stablecoins provide a bridge between cryptocurrency flexibility and traditional currency stability, facilitating better cash flow management. Nuvei's initiative aligns with its mission to support merchants in accelerating their business through innovative payment methods.
Nuvei (Nasdaq: NVEI) has been selected by Vanguard Truck Centers as a payment provider to enhance their operations across the U.S. commercial truck dealer group. This partnership aims to optimize business-to-business payment processing, benefiting from Nuvei’s end-to-end solutions.
The U.S. trucking industry was valued at $732 billion in 2020, demonstrating significant market potential. Vanguard operates in 24 locations and offers a range of services, including truck sales and leasing. This collaboration is expected to improve payment processes and customer experiences while supporting Vanguard's growth strategy.
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