Nuvei and Microsoft Partner to Optimize Payments Tech for ‘Future of Commerce’

Montreal-born financial technology Nuvei this month announced a “major expansion of their strategic partnership” with Microsoft.

The expanded collaboration enables the Quebec-based fintech’s core payment processing APIs to run on Microsoft Azure and use Azure AI to optimize transactions in real time, according to a statement from the firms.

This “significantly expands Nuvei’s global processing capabilities,” establishing an AI-powered foundation designed to support more than $1 trillion in annual payment volume as businesses scale internationally.

“Every payment should succeed with speed and accuracy, every time, wherever our customers operate,” believes Phil Fayer, chief executive officer of Nuvei.

Fayer says that “Running our core processing on Microsoft Azure gives us an AI-native foundation that adapts in real time, optimizes transactions globally, and meets regional data-residency requirements.”

The tactic “strengthens performance today and enables us to deliver new AI-driven capabilities as our clients scale,” according to the Canadian fintech CEO.

The modernized architecture will also provide a “larger runway for ongoing innovation, enabling Nuvei to accelerate future enhancements.”

Microsoft Azure’s AI-ready infrastructure “complements Nuvei’s enterprise payments expertise,” according to Tyler Pichach, who serves Microsoft as Global Head of Payments Strategy.

“This step positions Nuvei to deliver the resilient, responsive, and optimized payment experiences required for the future of global commerce,” Pichach stated.

After experiencing a high north of $170 per share back in 2021, Montreal’s Nuvei struggled to recover on the public markets, with shares dipping to a low of less than $20. Last year, the company decided to go private. Advent International, Novacap, and CDPQ acquired the fintech in a deal valuing the firm at $6 billion.

Nuvei was founded in 2003, with the platform today reaching 150 countries and 700 alternative payment methods.

Microsoft trades publicly as one of the largest companies in the world with a global market cap of nearly $5 trillion.