New license extends Nuvei's global reach and
enables customers in the region to benefit from additional
services
MONTREAL, April 9,
2024 /PRNewswire/ -- Nuvei Corporation (Nasdaq: NVEI)
(TSX: NVEI), the Canadian fintech company, today announces that its
Singapore entity, Nuvei Singapore
Pte Ltd, has been granted a Major Payment Institution (MPI) license
by the Monetary Authority of Singapore.
This new license enables Nuvei to operate three types of
payments services in Singapore,
including domestic money transfer, cross-border money transfer, and
merchant acquisition services. Businesses in Singapore are now benefiting from Nuvei's
cutting-edge, agile technology that's built to accelerate their
growth, as well as Nuvei's global reach and expertise in local
markets across Asia-Pacific
(APAC).
Nuvei's payments platform enables businesses to optimize
operating costs and boost conversion rates by consolidating their
payments solutions, maximizing payments acceptance, minimizing
risk, and enhancing the consumer payment experience.
"Securing this MPI license is another significant milestone as
we continue accelerating our growth in APAC," commented
Philip Fayer, Nuvei's Chair and CEO.
"This license enhances our service offering for customers in
Singapore by enabling us to
provide additional payment solutions, including international money
transfers through direct card payouts. It also provides another
validation of our steadfast commitment to optimizing the payment
experience for businesses and consumers throughout this critically
important region."
The MPI license complements Nuvei's expansion across APAC,
including launching direct card acquiring capabilities in
Australia, and its continued
growth in China.
This announcement follows a recent Nuvei launch of near
instantaneous payout capabilities for businesses in Singapore via its partnership with Mastercard
Send™. Through this strategic partnership with Mastercard, Nuvei
can now enable businesses to process rapid cross-border payouts to
over 1.5 billion Mastercard debit, credit and prepaid cards
globally.
Nuvei continues to invest in building its presence across APAC
to support businesses looking to scale both locally and
cross-border. The Company's modular payments platform enables
clients to securely connect with customers in over 200 markets
worldwide through a single integration, accepting 680 alternative
payment methods and offering acquiring in over 50 markets.
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 50 markets, 150 currencies and 680
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
NVEI-IR
Contact:
Public Relations
alex.hammond@nuvei.com
Investor Relations
IR@nuvei.com
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SOURCE Nuvei