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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, TSX: NVEI) has expanded its partnership with Eyas Gaming to offer a comprehensive payment solution across its UK iGaming brands. This collaboration, initiated in October 2021, now enables Eyas to integrate carrier billing and various payment methods through Nuvei's advanced cashier technology. Eyas Gaming's Head of Fraud, Risk and Payments expressed excitement about the partnership, highlighting Nuvei’s industry expertise. The announcement underscores Nuvei's commitment to becoming the preferred payment technology provider in the iGaming sector.
Nuvei Corporation (Nasdaq: NVEI) announces a partnership with Multi Wholesale Supplies, a leading B2B medical retailer, to enhance global card processing and fraud management. This collaboration aims to boost B2B conversion rates by transitioning merchants from invoice billing to real-time payments. Leveraging over 550 alternative payment methods across 46 markets, Multi Wholesale Supplies will streamline payments for medical professionals. Nuvei's CEO Phil Fayer highlights the company's commitment to innovation and superior service in the evolving European B2B payments landscape.
Nuvei Corporation (Nasdaq: NVEI) expands its partnership with GoldBet, enhancing payment options for players in Italy.
This update allows GoldBet users to deposit and withdraw using Apple Pay, positioning GoldBet as one of the first Italian operators to offer this feature. Since teaming up with Nuvei in 2020, GoldBet has reported significant revenue growth, driven by improved player experiences and frictionless transactions. Nuvei emphasizes its commitment to tailored payment solutions that support business growth across global markets.
Nuvei Corporation (Nasdaq: NVEI) announces a new collaboration with international clothing retailer Hatley to enhance their payment offerings. The partnership covers in-store card payments across over 40 retail locations in North America, as well as B2B and eCommerce payment processing in the US, Canada, and Europe. Hatley's CEO asserts this collaboration supports their growth in the retail market, aiming for a seamless omnichannel payment experience. Nuvei aims to empower Hatley with advanced payment solutions to facilitate its expansion.
Nuvei Corporation (Nasdaq: NVEI) and GAN Limited announce a strategic partnership that enables gaming operators to access Nuvei’s payment solutions through GAN’s software platform. This collaboration follows the regulated gaming market launch in Ontario and aims to expand support across the U.S. and Canada. Players can now benefit from instant deposits and payouts via multiple payment methods. Both companies highlight their commitment to providing best-in-class solutions for the gaming industry, positioning themselves for significant growth.
Nuvei Corporation (Nasdaq: NVEI) partners with WeCook, a ready-to-eat meal delivery service, to enhance its payment processing capabilities across Canada. WeCook is experiencing rapid growth, having delivered over 4 million meals and secured CAD$40 million in strategic investments. The partnership will leverage Nuvei's advanced payment technology to streamline B2B and B2C transactions, facilitating WeCook's goal of expanding nationally by 2023. This collaboration aims to boost customer retention and increase conversion rates through innovative payment solutions.
Nuvei Corporation (Nasdaq: NVEI), a leading payment platform, has launched an advanced risk management model for its Instant Bank Transfer service in North America. Utilizing machine learning, the new model enhances fraud detection by analyzing transaction factors such as account age and value. Key benefits include improved customer retention, smarter payment acceptance, reduced risks, and lower costs associated with fraud. The detection rate for fraudulent transactions is expected to improve by 30% from launch, with ongoing enhancements anticipated as the system learns from more data.
Nuvei Corporation (Nasdaq: NVEI) has announced that the Québec Superior Court approved its plan of arrangement under the Canada Business Corporations Act. This arrangement amends the articles of amalgamation to incorporate constrained securities ownership provisions, enhancing compliance with share ownership restrictions. The amendments became effective on June 1, 2022, following the Court's final order.
Details on these amendments can be found in the management information circular dated April 14, 2022, available on SEDAR and EDGAR.
MONTREAL, May 31, 2022 - Nuvei Corporation (Nasdaq: NVEI) announces participation in two investor conferences. The first presentation will occur on June 1, 2022, at Cowen’s 50th Annual Technology, Media and Telecom Conference at 2:10 pm ET. The second will be on June 14, 2022, at RBC Capital Markets Financial Technology Investor Day at 1:45 pm ET. Both presentations will be available via live webcast on Nuvei’s investor relations website. Nuvei is a global payment technology partner that offers multi-currency solutions and extensive payment methods.
Nuvei Corporation (Nasdaq: NVEI) announced the results of its annual and special meeting of shareholders held on May 27, 2022. All six director nominees were elected with over 96% support. PricewaterhouseCoopers LLP was appointed as auditors with 99.95% approval. A special resolution for amendments to the articles of amalgamation passed with 98.14% support. These amendments await approval from the Quebec Superior Court on May 31, 2022. Final voting results will be filed on SEDAR and EDGAR.
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