Montreal-based payments technology company Nuvei is looking to navigate choppy waters with a new product.
Founded in 2003, the Canadian company known as “tomorrow’s payments platform” is a relative incumbent in the fintech space. And with more than 1,300 employees it is also notable presence in the arena.
However fintech is a cutthroat sector, especially in this current market. Nuvei went public in 2020 in what was at the time the largest-ever technology company offering on the Toronto Stock Exchange. Over the past year, shares are down 69%.
To combat this woe is the launch of a fully customizable product that enables businesses to embed payments into their own platforms as either a Nuvei-branded or white label offering. The recently unveiled “Nuvei for Platforms” has been designed to serve the payment needs of ecommerce platforms, marketplaces, banks, and large fintechs and is being rolled out globally by the company.
“We are thrilled to launch Nuvei for Platforms and help more companies accelerate their business,” Nuvei CEO Philip Fayer stated recently.
According to Fayer, the new payment-platform-as-a-service solution is suited for businesses that see payments as a customer retention and revenue generation priority through delivering the best possible experience for their customers.
Fayer says the product “reflects our drive to further diversify our distribution across both direct merchant integrations and through channels such as platforms and banks, making our offering even more ubiquitous.”
Nuvei for Platforms comes with the functionality of Nuvei’s core modular platform, including onboarding, pay-in and pay-outs, optimization, fraud, and risk management.
“Our offering gives our clients access to the most cutting-edge payment processing technology,” Fayer affirmed. “And under their own brand if they prefer.”
Nuvei provides technology and insights for customers and partners to succeed across 200 markets and 150 currencies.