Nuvei, a Canadian fintech firm, has recently launched its direct payment acquiring service in Canada, allowing businesses in the region to process domestic transactions locally through its platform. This move is expected to benefit Canadian merchants by increasing sales capture, reducing lost transactions, and providing a smoother purchasing experience for consumers.
One of the key features of Nuvei’s new service is its focus on providing higher transaction approval rates through local processing and intelligent routing. By eliminating the complexity associated with multiple payment intermediaries, Nuvei aims to streamline the payment process for businesses in Canada. In addition, the platform offers real-time payout options and access to over 700 alternative payment methods in 150 different currencies.
Furthermore, Nuvei’s direct payment acquiring service includes unified reporting, simplified reconciliation, and enhanced omnichannel capabilities. This integrated approach is part of Nuvei’s global strategy to simplify and amplify payment processes for businesses across various markets through a single platform. The platform covers payment acceptance, optimisation, risk management, and payout functionalities.
Phil Fayer, Nuvei’s chair and CEO, highlighted the significance of becoming a direct acquirer in Canada, stating that it reflects the company’s strategy to build direct acquiring capabilities in major markets. By combining local acquiring with a global platform, Nuvei aims to help merchants achieve higher approval rates, better conversions, and more predictable interchange costs. With powerful omnichannel capabilities and simplified reconciliation, Nuvei is providing businesses worldwide with the infrastructure needed to grow faster and compete globally.
In a recent development, Nuvei integrated the Wero digital wallet into its suite of payment solutions for e-commerce businesses. This integration offers Nuvei’s merchant clients early access to the Wero payment solution through their existing Nuvei platform integration.
The launch of Nuvei’s direct payment acquiring service in Canada underscores the company’s commitment to simplifying and enhancing payment processes for businesses. By providing a seamless and efficient payment solution, Nuvei aims to support businesses in Canada and globally in achieving their growth objectives.
This article was originally published by Electronic Payments International, a GlobalData-owned brand.
