ACE Money Transfer accelerate their global expansion plans in partnership with Nuvei

About ACE Money Transfer

'A quick, secure and easy way to transfer money all around the globe’, ACE Money Transfer’s mission has not wavered throughout its 16 years of operation. Today, ACE provides global remittance services, connecting customers to over 375,000 payout locations and servicing 1.3 million users worldwide. With offices spanning the UK, Europe, Australia, Pakistan, and Bangladesh, ACE Money Transfer has built a reputation for fast, secure, and cost-effective money transfers, ensuring their customers can pay-in and send funds seamlessly across the globe.

The challenge

ACE Money Transfer needed to modernize its remittance services to align with the growing digitization of cross-border payments. Remittances are largely bank or card-driven and most of the inbound payment traffic ACE handles is from the UK and Europe. Here, customers are used to digital transfers but often prefer more localized payment methods. Therefore, ACE needed to support a wider variety of digital pay-in methods across European markets. Any changes to the associated card scheme mandates also needed further consideration. Visa and Mastercard’s shifts to greater authentication processes, for example, were not something ACE wanted to navigate alone.  

They needed a payment partner capable of facilitating this change while ensuring continued compliance across multiple jurisdictions. ACE had big ambitions for the future, seeking to expand into UAE, USA and Saudi Arabia and strengthen their existing presence in European markets. Enabling more APMs and card coverage would be critical to achieving that goal.

The solution

Nuvei provided ACE Money Transfer with a fully integrated solution that enables seamless card processing in a greater number of established markets, ACE could also launch their local business in Canada benefiting from Nuvei's licenses. Through that same, single Nuvei integration, ACE’s localized support now has access to the likes of IDeal, BLIK, MBWay, Bancontact or Mybank, supporting all of ACE’s key remittance corridors. For customers sending money through ACE, it's as seamless and simple as ever - and now even more flexible.  

In addition, Nuvei’s extensive compliance coverage ensures ACE can still operate across a patchwork of regulated markets, mitigating potential risks, which further streamlines their cross-border transaction costs.

ACE Money Transfer's ambition to providing secure and seamless global remittances aligns perfectly with Nuvei’s own mission to provide payment solutions that really accelerate business. We’re proud to support their rapid growth and expansion into new markets with our global payment solutions.

Jasper Goeman, SVP Sales, Europe at Nuvei

The results

ACE Financial has experienced significant improvements in transaction efficiency and market reach. Acceptance rates are up ~2% globally, while processing costs are down. ACE is achieving an impressive 40% year-over-year growth, reinforcing its position as a key player in the global remittance industry. ACE is now looking to expand into the U.S. market too, unlocking new opportunities for their growing brand.

Nuvei’s support has been instrumental in our digitization journey. Their expertise and payments solutions have allowed us to scale into new markets while ensuring an exceptional customer experience.

Raza Malik, Executive Head at ACE Money Transfer

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