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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) has announced an automatic share purchase plan (ASPP) related to its previously disclosed normal course issuer bid (NCIB). This plan enables the purchase of up to 6,617,416 subordinate voting shares during regulatory blackout periods. The designated broker will make purchases based on pre-set parameters, effective March 18, 2022. As of now, Nuvei has already acquired 1,175,766 shares under the NCIB.
Nuvei Corporation (Nasdaq: NVEI) has partnered with Ledger to offer direct on-ramps for over 125 cryptocurrencies via its Simplex solution. Users can purchase crypto using various fiat options like Visa and Mastercard, enhancing security and usability by eliminating the need for external exchanges. This integration allows Ledger users to have broader funding options and guarantees protection against fraud. The CEO of Nuvei emphasized the importance of streamlined access to crypto for ecosystem growth, while Ledger's VP noted that the partnership expands their service offerings.
Nuvei Corporation (Nasdaq: NVEI) has partnered with Scout Gaming to enhance online payments for its US-based daily fantasy sports platform, FanTeam. This collaboration will grant FanTeam access to over 500 innovative payment methods across 200+ markets, allowing for improved customer retention and increased acceptance rates. The support from Nuvei is expected to solidify its position as a leading payments partner in the rapidly growing fantasy sports and sports betting industries, backed by its advanced payment processing services.
Nuvei Corporation (Nasdaq: NVEI) has announced significant leadership changes to enhance its global growth strategy. Yuval Ziv has been promoted to President, overseeing product, sales, and AI capabilities. Praful Morar has been appointed Global Expansion Officer to lead international growth, relocating to Singapore. Netanel Kabala becomes Chief Data and Analytics Officer, focusing on data-led services. These strategic appointments aim to strengthen Nuvei's management team and support its commitment to high-growth markets and innovation.
On February 15, 2022, Nuvei (Nasdaq: NVEI), a global payment technology partner, announced a donation to Youth Development Now (YDN), a North American non-profit organization aimed at improving youth mental and physical health through athletics. This initiative is part of Nuvei's broader Corporate Social Responsibility (CSR) program for 2022. The company, in collaboration with partner SMB Global and client SOLE Fitness, emphasizes its commitment to social causes that empower youth and promote well-being.
Nuvei Corporation (Nasdaq: NVEI) has launched as a payment provider for THG plc, enhancing payment services for THG's brands like Myprotein and Glossybox. This collaboration utilizes Nuvei’s recurring billing service, enabling secure automated purchases. Philip Fayer, CEO of Nuvei, expressed enthusiasm for the partnership, emphasizing shared values of innovation and service.
Nuvei's platform supports over 500 payment methods across 200 markets, solidifying its position as a key player in online retail payments.
Nuvei Corporation (Nasdaq: NVEI) has received approval from the New York State Gaming Commission to process payments for newly licensed digital sports betting platforms. This includes five approved operators: Caesars Sportsbook, BetMGM, DraftKings, FanDuel, and Rush Street Interactive. The approval allows New Yorkers to place bets online, enhancing accessibility beyond physical betting locations. CEO Philip Fayer noted this development as a strategic move to support the expanding online sports betting industry, utilizing Nuvei's advanced payment processing solutions.
Nuvei Corporation (Nasdaq: NVEI) has partnered with Wix (Nasdaq: WIX) to enhance payment processing for Wix merchants in North America. This collaboration aims to provide fast, secure payment solutions for various industries, including those with complex regulatory requirements. Nuvei will facilitate local acquiring and payment processing, increasing transaction success rates and expanding Nuvei's brand visibility. Both companies are experiencing significant growth, indicating a robust alignment in their market strategies.
Nuvei Corporation (Nasdaq: NVEI) has released a new white paper titled Mystery to Opportunity: The Future of Crypto Payments, focusing on the increasing role of cryptocurrencies in eCommerce. The paper reveals that crypto payments currently account for about $6 billion of the $10 trillion global eCommerce market, highlighting an ongoing market inflection point. CEO Philip Fayer emphasizes that technological innovations, including NFTs and stablecoins, are driving the mainstream adoption of crypto payments, which is anticipated to evolve significantly over the next three to five years. The white paper is available for download on Nuvei's website.
Nuvei Corporation (Nasdaq: NVEI) has partnered with Project Ark to facilitate the purchase of NFTs using fiat currencies via its Simplex platform. This collaboration aims to enhance consumer access to Project Ark's ImpactNFTs, which support environmental and social causes. The initiative eliminates the need for users to set up external wallets, expanding the reach of these digital collectibles. The partnership aligns with both companies' goals of promoting sustainable practices and increasing global awareness of environmental issues.
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