The company’s global acquiring footprint, combined with the newly launched issuing capability, aims to create a differentiated value proposition for both Nuvei and its clients. The combination of issuing and acquiring capabilities offers revenue-accelerating benefits to customers through same-day funding, on-us processing, interchange optimisation, and instant transaction reporting.
Virtual cards for B2B customers to pay suppliers;
Payment cards for payouts, which has utility for customers operating in marketplaces, insurance, iGaming or the gig economy;
Wallet-as-a-Service, where Nuvei will manage the entire end-to-end process and distribution for customers, supporting specific use cases such as loyalty programs.
Working capital efficiency: virtual cards enable businesses to instantly access and utilise funds collected from their customers. Once the customer’s transactions have been captured, virtual cards can instantly be issued and used by the merchant to pay suppliers, employees, or other customers. There is no need to wait for the funds to settle before making use of them, thereby enhancing working capital. This benefit can be useful for instance, in the case of online travel agents purchasing flights or hotel tickets on behalf of their customers.
Improved authorisation rates: When merchant-branded cards are used for purchases and Nuvei is both the issuer and acquirer, transaction approval rates can increase. One use case for this capability can be seen in the retail sector when merchants issue their customers refunds on a virtual or physical card and those customers use their funds in the same store. If transactions are acquired through the same payment processor who issued the card, approval rate improvements will be seen.
Smooth and cost-effective payouts: virtual and physical cards are fast and easy to issue. They enable businesses to push funds out to their customers or workforce at speed, and often lower cost than traditional payouts to existing cards or directly into bank accounts. Insurance claims, government disbursements, and gig economy payouts are primary use cases where card issuing can add value. Because once issued, virtual cards can be used instantly, anywhere cards are accepted, this proposition also creates value in areas where businesses or governments must make payments to parts of the population that are unbanked.
Increased customer loyalty: merchant-issued cards can be both physical and virtual and are white labelled to the merchant’s brand. This can help increase brand awareness and affinity while giving merchants an opportunity to reward their customers.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now