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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.
Nuvei's latest research, in collaboration with Edgar, Dunn & Company, reveals that 75% of eCommerce businesses require improved support for payment optimization due to their dependence on multiple payment providers. The study indicates that 54% of online firms utilize at least six providers, recognizing the potential for revenue growth in a competitive landscape. However, 59% acknowledge that customers experiencing payment declines may not return. Nuvei emphasizes the importance of Payment Orchestration in enhancing payment performance and operational efficiency. The whitepaper offers guidance on implementing these solutions effectively.
Nuvei Corporation (Nasdaq: NVEI), the Canadian fintech company, has announced the renewal of its normal course issuer bid (NCIB) for purchasing up to 5,556,604 subordinate voting shares, representing about 10% of its public float with a total value of approximately U.S.$228.3 million.
The NCIB will be effective from March 22, 2023 to March 21, 2024, allowing purchases at market price through various platforms. This renewal follows a previous NCIB where 3,660,743 shares were repurchased at an average price of U.S.$45.51. Nuvei aims to utilize excess cash for these repurchases, aligning with their strategy to enhance shareholder value.
Nuvei Corporation (Nasdaq: NVEI) reported its financial results for Q4 and FY 2022, highlighting a total volume growth of 39% on a constant currency basis. For Q4, total volume reached $40.3 billion, with eCommerce making up 91%. Revenue increased by 4% to $220.3 million, impacted by foreign exchange fluctuations. Net income decreased by 24% to $9.4 million, while adjusted EBITDA fell by 6% to $85.7 million. For FY 2022, total volume grew 34% to $127.7 billion, with revenue up 16% to $843.3 million. The company expects organic revenue growth, excluding digital assets, to range between 23% and 28% for FY 2023.
Nuvei has launched its payment solutions in Australia, catering to the country's robust eCommerce sector, valued at $47 billion with 8.9% growth in 2022. This expansion follows successful launches in Singapore and Hong Kong. With regulatory licenses secured, Australian businesses can utilize local acquiring to enhance payment acceptance and minimize risks. The integration of the New Payments Platform (NPP) allows for instant, year-round settlements, greatly benefiting fast-paced industries. Nuvei's platform supports over 600 alternative payment methods, aligning with Australia's high internet penetration of 91%, where over 90% of online users shop online.
MONTREAL, March 02, 2023 (GLOBE NEWSWIRE) -- Nuvei Corporation (Nasdaq: NVEI, TSX: NVEI) announced participation in two upcoming investor conferences. The Wolfe FinTech Forum in New York City will be held on March 15, 2023, starting at 8:00 am ET, lasting for 35 minutes. The Bank of America Electronic Payments Symposium (Virtual) is scheduled for March 21, 2023, commencing at 4:15 pm ET, for approximately 40 minutes. Audio webcasts and archived replays will be available on Nuvei’s investor relations website.
Nuvei is a Canadian fintech firm providing flexible payment solutions across over 200 markets.
Nuvei Corporation, a global payments technology company, has entered a multi-year sponsorship deal with the Mercedes-AMG PETRONAS Formula One Team ahead of the 2023 F1 season. This partnership will enhance Nuvei's brand visibility as its logo appears on team gear, including driver helmets and overalls. Nuvei operates in over 200 markets, providing flexible payment solutions with services like fraud prevention and risk management. Team Principal Toto Wolff and CEO Philip Fayer expressed enthusiasm for the alignment of their innovative approaches. The partnership signifies a strategic opportunity for Nuvei to connect with a global audience through the high-profile world of Formula One.
Nuvei Corporation (Nasdaq: NVEI) has been chosen as the exclusive payment technology provider for Le Panier Bleu, an online marketplace in Quebec. This partnership aims to enhance eCommerce services for small and medium-sized enterprises (SMEs) by leveraging Nuvei for Platforms, which offers integrated payments solutions. The initiative is focused on helping local merchants compete against larger eCommerce players by providing customizable payment services. Le Panier Bleu currently features over 200 merchants and aims to triple its offerings by year's end. This collaboration reflects Nuvei’s commitment to supporting regional economies and strengthening the local eCommerce landscape.
Nuvei Corporation (Nasdaq: NVEI) has announced a significant partnership with Colombia's leading payment processor, Redeban, integrating its Nuvei for Platforms solution. This collaboration aims to enhance payment processing capabilities for merchants served by Redeban. The solution allows businesses to embed payment functionalities seamlessly, providing features such as onboarding, payment optimization, risk management, and fraud detection. Nuvei's CEO, Philip Fayer, emphasized the solution’s potential to drive revenue growth and improve customer experiences, highlighting increasing interest from companies in Latin America and beyond.
Nuvei Corporation (NVEI) has partnered with VTEX to enhance eCommerce payment solutions for retailers globally, focusing on faster revenue generation and increased flexibility. VTEX, serving over 2,400 customers across 38 countries, is expanding into Latin America and Asia Pacific with this collaboration. Nuvei will provide tailored payment technology and optimization capabilities, leveraging its extensive experience in local and cross-border payment methods. This partnership is strategic for both companies, aiming to address the evolving needs of the retail industry and support rapid business growth.
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.
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