Nuvei, the Canadian fintech company, has launched its full suite of payments solutions in Australia.
Its technology offers Australian businesses access to acquiring, processing, alternative payment methods, and risk management services. This launch will help local businesses optimise operating costs, enhance the customer payment experience, and boost conversion rates by maximising payment acceptance and minimising risk.
The move into Australia is part of Nuvei’s global expansion plan and its efforts to strengthen its presence and capabilities in the Asia-Pacific region. The launch follows Nuvei’s successful entry into Singapore and Hong Kong in 2022.
Philip Fayer, Nuvei’s chair and CEO, said: “Our mission is to help our customers connect with their customers regardless of location, payment method or currency. Launching in Australia is a natural step for our continued expansion in APAC, having already established a strong and growing presence in the region.”
The Nuvei offering
Nuvei’s platform offers businesses the ability to accept all local and relevant payment methods, including alternative payment methods such as Australia’s account-to-account fast payments open access infrastructure, New Payments Platform (NPP), giving consumers even more choice over their payments experience.
This payment method offers instant, 24/7/365 settlements, making it particularly relevant for industries where payouts are critical to the overall payment experience.
With an e-commerce market value of $47billion and 8.9 per cent growth in 2022, Australia is a significant market for e-commerce in APAC and globally. Nuvei has also secured regulatory and scheme licences to support customers with local acquiring in the country.
Nuvei connects businesses to their customers in more than 200 markets, with local acquiring in over 45 markets, 150 currencies, and more than 600 alternative payment methods. It provides technology and insights for customers and partners to succeed globally with one integration.
Last month, Nuvei completed its acquisition of Paya Holdings, a US provider of integrated payment and frictionless commerce solutions.