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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 Corporation (Nasdaq: NVEI) announces the launch of Nuvei Simply Connect, a customizable payment interface aimed at helping businesses scale efficiently. This Software Developer Kit (SDK) offers a user-friendly solution for merchants lacking significant in-house development resources, providing them with enterprise-grade features such as extensive payment methods, fraud management, and compliance tools. Designed for businesses of all sizes, Simply Connect enhances customer experience by allowing easy customization of the transaction page to fit existing site layouts.
Nuvei has partnered with Kindred Group to enhance its payment services for online gambling in key European markets. This collaboration allows Kindred players to seamlessly deposit and withdraw funds using Nuvei's advanced payment technology, which optimizes card acceptance rates and boosts player conversion. With Kindred operating well-known brands like Unibet and 32Red, this partnership aims to drive revenue growth through improved payment experiences. Both companies express confidence in enhancing customer engagement and expanding market presence.
Nuvei Corporation (Nasdaq: NVEI) partners with Arcadier, enhancing their global expansion in the B2B and B2C marketplace sectors. This collaboration allows Arcadier's merchants to access tailored payment solutions, with over 570 alternative payment methods integrated into their platforms. Notably, Nuvei's technology simplifies payment processing and onboarding, crucial for accelerating revenue. With marketplaces accounting for 57% of eCommerce sales, this partnership is poised to leverage significant market opportunities.
Nuvei Corporation (Nasdaq: NVEI) has announced its participation in several investor conferences in September 2022.
The events include the Susquehanna Virtual Gambling and Technology Ecosystem Forum on September 7, Goldman Sachs 2022 Communacopia and Technology Conference on September 12, and the Autonomous 7th Annual Future of Commerce Symposium on September 16. Additionally, Nuvei will attend the BMO Digital Banking Summit on September 20 and the CIBC 21st Annual Eastern Institutional Investor Conference on September 22.
Webcasts of these presentations will be available on Nuvei’s investor relations website.
Nuvei Corporation has partnered with Air Transat, enhancing the airline's payment processing capabilities across 39 global markets.
This collaboration aims to offer a smooth payment experience to customers while improving revenue through optimized approval rates and fraud management.
Air Transat, Canada's third-largest airline, emphasizes that this partnership will help expand payment options and enhance working capital management.
Nuvei aims to solidify its position as a leading payment partner in the travel and airline sector as global travel resumes.
Nuvei Corporation (Nasdaq: NVEI, TSX: NVEI) has announced its participation in Canaccord Genuity’s 42nd Annual Growth Conference on August 11, 2022, at 2:30 pm ET. The management team’s presentation will be accessible through a live webcast and archived replay on the company’s investor relations website.
Nuvei is a leading payment platform connecting businesses in over 200 markets with 45+ local acquiring markets, supporting 150 currencies and over 570 alternative payment methods. For more details, visit nuvei.com.
Nuvei Corporation (NVEI) reported its Q2 2022 results, showing a 44% increase in total volume at constant currency, totaling $31.4 billion. Revenue rose 19% to $211.3 million, impacted by adverse currency fluctuations and volume mix changes. Adjusted EBITDA grew 17% to $92.9 million. However, net income saw a decline to $35.1 million due to increased share-based payments. The company amended its 2022 outlook, citing currency volatility and economic conditions, while maintaining long-term revenue targets of $1 billion. Cash flow from operations increased to $91.5 million.
Nuvei Corporation (Nasdaq: NVEI) announced the appointment of two new independent directors, Maren Lau and Tim Dent, expanding its Board to eight members. Lau brings expertise from Meta Platforms as Regional Vice President for Latin America, while Dent has over 20 years in online gaming, notably as Chief Financial Officer at DraftKings. The Board aims to achieve 30% female representation by the end of 2023. CEO Philip Fayer expressed confidence in their leadership and its relevance to Nuvei's growth in various industry verticals and geographies.
Nuvei Corporation (Nasdaq: NVEI) has been selected by Selina as its primary payment provider for card acquiring services across Europe and beyond. This collaboration aims to enhance payment experiences for Millennial and Gen Z travelers, who are projected to spend $350 billion annually on travel. Nuvei's services will expand to the US, Latin America, and Australia, with plans for additional payment methods in 2022. Selina, already a significant player in the hospitality sector, focuses on creating immersive experiences and adapting to the needs of remote workers.
Nuvei Corporation (Nasdaq: NVEI) announced it will release its Q2 2022 financial results before market opening on August 9, 2022. A conference call and webcast will follow at 8:30 am ET, hosted by Philip Fayer, Chair and CEO, and David Schwartz, CFO. The call will be accessible through the investor relations website and by phone. A replay will be available for a limited time after the call.
Nuvei is a global payment platform that supports businesses in accepting various payment methods across 200 markets, enhancing transaction efficiency.
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