The main purpose of this collaboration is to streamline billing and payment processes for SBT's consumer finance business customers, allowing consumers to initiate transactions directly through text notifications rather than navigating separate online portals or physical payment methods.
Nuvei's core platform technology, integrated with SBT, enables businesses to accept payments through various alternative payment methods, including account-to-account transactions such as ACH in the US, and digital wallets such as Google Pay and Apple Pay. The improved user experience is anticipated to strengthen SBT's consumer connections, boost digital payment rates, and reduce resource commitment in payment management.
Representatives from Solutions by Text emphasised the importance of the partnership in delivering an optimal consumer experience for bill payments. The ability for customers to make payments directly through text messages is seen as a significant upgrade that aligns with SBT's plans for future market expansion and growth.
Officials from Nuvei expressed enthusiasm about the partnership, highlighting how enabling bill payments through text reminders is a strategic move for businesses aiming to enhance their relationship with customers through payment interactions.
Solutions by Text specialises in FinText, and it has provided real-time engagement and transaction solutions for consumer finance companies since 2008. The company aims to bring real-time payments to the text channel, optimising the bill pay experience for businesses and consumers.
Nuvei is a Canadian fintech company that offers modular, flexible, and scalable technology to accelerate businesses around the world. Nuvei's technology supports next-gen payments, diverse payout options, and services such as card issuing, banking, risk management, and fraud prevention. With connectivity in over 200 markets, local acquiring in more than 47 markets, support for 150 currencies, and 669 alternative payment methods, Nuvei provides integrated solutions for customers and partners to succeed on both local and global scales.
In November 2023, Nuvei partnered with Nayax to enable Circle K and Couche-Tard to accept cashless payments at their EV charging points in Canada.
Through this partnership, Nuvei and Nayax intended to allow the two gas station and convenience store brands to integrate cashless payment methods at their electric vehicle (EV) charging stations in the region. The two companies aimed to enable a simplified customer experience while ensuring EV drivers could leverage the same cashless payment methods they use when completing purchases at existing gas stations.
For more information about Nuvei, please check out their detailed profile in our dedicated, industry specific, Company Database.
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