Last week, financial technology firm Nuvei unveiled a virtual white-labelled card issuing solution launching in 30 markets globally.
Chief executive Philip Fayer described the latest feature as an “additional module to our full stack technology platform.”
And on top of new features, Nuvei is forging new partnerships as well, such as a recent one with Plaid.
Even more recent, the Montreal-based fintech this week announced a collaboration with Microsoft.
The new agreement will see Microsoft leverage Nuvei’s agile payments tech in the Middle East and the Africa region, benefiting from Nuvei’s knowledge of local markets to optimize payments for recurring billing and individual transactions across the titan’s longstanding Office and Xbox product ranges.
“Whether it is a one-off purchase, software subscription, or in-game purchasing, payments are critical to our overall customer experience,” stated Ajith Thekadath, who serves as Vice President of Global Payments at Microsoft.
“We’re pleased to extend our payment solutions to the Middle East and African region,” the VP continued. “Partnering with Nuvei enables our customers to pay wherever they are and whenever they want to.”
Other benefits of Nuvei’s global payments capabilities Microsoft is harnessing include optimized authorization rates through local acquisition and risk management that minimizes false declines, according to Fayer, as well as Nuvei’s ability to offer relevant local alternative payment methods to each market through a single integration.
“Enabling Microsoft to connect to its customers across a wide range of products is testament to our technology and dedication to world-class customer service,” the CEO stated. “We’re excited to optimize payments for such a universal brand that is trusted and relied upon by so many people.”
Fayer says Nuvei and Microsoft are committed to extending their partnership across additional markets, as well as other products—including Dynamics 365, a business applications technology suite that drives operational efficiency and improves enterprise resource management.
“As two innovative, technology-led businesses that provide solutions to many of the leading international brands across the globe, it makes sense to explore how we can work more cooperatively as we grow our commercial relationship,” he said.
Connecting businesses to customers across 200 markets, 150 currencies, and more than 600 alternative payment methods, Nuvei provides technology and insights for partners to succeed locally and globally with one integration.
Despite high-profile investors, however, shares in Nuvei on the Toronto Stock Exchange are down 10% year-to-date.
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