MONTREAL, October 5 2023 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that it has launched its enhanced payments solution for business-to-business (B2B) payments in Canada.
B2B businesses working with Nuvei are now able to offer their customers in Canada a holistic payments solution including Card-Not-Present and account-to-account processing capabilities, Level 3 processing and Nuvei’s advanced proprietary accounts receivable (AR) solution, directly integrated with their enterprise resource planning (ERP) system. Benefits of Nuvei’s AR solution include simplified workflows and back office efficiencies, unique payment capabilities designed to handle the nuances and complexities of business to business commerce, and shortened invoice to cash cycles.
B2B payments is a rapidly growing sector of the Canadian payments landscape, as well as a requirement for the ongoing growth of many businesses focused on domestic or cross-border commerce in Canada.
Nuvei is leveraging existing deep integrations into many of the leading ERP solution providers operating in Canada through partnerships in other geographies to accelerate its launch in the country.
Nuvei’s unique B2B payment capabilities are often powered through back-end integrations with ERP software systems that allow organizations to manage day-to-day activities across operations, finance, procurement, and commerce. Additional features of Nuvei’s B2B payment function that are now available to Canadian businesses include the ability to offset the cost of card acceptance with fee recovery, automated invoicing – saving both time and money, tokenized payment account information that is stored on file and accessible, and dynamic discounting to further reduce the length of time to access cash.
Philip Fayer, Nuvei Chair and CEO, commented on the announcement: “B2B payments is a key growth vertical for Nuvei. We’ve had tremendous success supporting our partners and their customers with leading payments solutions in the U.S., so we are thrilled to be expanding our capabilities internationally.”
Fayer continued: “We’re an international payments services provider, but our roots are in Canada, so we are particularly pleased to be bringing this much-needed holistic payments solution to businesses and our partners supporting businesses in the Canadian market.”
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 47+ markets, 150 currencies and 634 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com
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