Nuvei enables near-instant payouts via Mastercard in Canada

This functionality is made possible through an integration with Mastercard Move, Mastercard’s global money movement platform. 

The service enables funds to be transferred directly to eligible cards, bypassing the need for traditional bank transfers or cheques. According to representatives from Nuvei, businesses can access this capability through their current integration with the company’s platform, allowing for faster disbursement of funds in scenarios such as online gaming payouts and customer refunds.

Mastercard expands reach of Move platform 

Mastercard Move is designed to support fast money transfers for financial institutions, fintechs, and their end users. The platform can move funds to nearly 10 billion endpoints, including bank accounts, digital wallets, cards, and cash-out locations in 180 countries and over 150 currencies. 

Officials from Mastercard stated that access to near real-time payments has become increasingly important across sectors where users expect quick access to funds. They added that by partnering with Nuvei, the payment experience can be streamlined for Canadian businesses, especially in areas requiring quick reconciliation, such as gig economy payments and refund processing. 

This latest initiative extends the existing partnership between Nuvei and Mastercard, which has already been rolled out in other international markets. Both companies have indicated ongoing efforts to expand the availability of such services globally.

What else has Nuvei been up to?

In other developments from Nuvei, the company has recently expanded its B2B payments capabilities to include integration with Sage Intacct Construction Real Estate (CRE).  

The move added to the company’s existing support for Sage 100 Contractor and Sage 300 CRE. This development aimed to better serve the US construction market by enabling digital payments directly within software systems commonly used in the industry. 

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