Australian businesses operating locally and globally will benefit from Nuvei’s technology that’s built to accelerate their growth. Nuvei’s payments platform enables businesses to optimise operating costs and boost conversion rates by maximising payments acceptance, minimising risk, and enhancing the consumer payment experience. This includes offering all local and relevant payment methods.
Launching in Australia is the latest initiative from Nuvei as it continues to grow its presence and capabilities in the Asia-Pacific region, following its successful launch in Singapore and Hong Kong in 2022.
Company officials stated that their mission is to their clients connect with customers regardless of location, payment method, or currency. Launching in Australia is a natural step for their continued expansion in APAC, having already established a strong and growing presence in the region.
Nuvei is launching in Australia having secured regulatory and scheme licenses to support customers with local acquiring in the country.
Nuvei’s officials added that they know the role local acquiring plays in payments optimisation, which is why Nuvei’s local acquiring network across the globe is useful. Being able to support merchants in Hong Kong, Singapore, and now Australia with local acquiring solutions demonstrates their commitment to their customers’ growth.
While debit and credit card payments are the preeminent online payment method for Australian consumers, alternative payment methods (APMs) are also growing in popularity. Nuvei technology enables businesses to accept all the relevant payment methods in the region (including local currencies for cross-border transactions) in addition to card acquiring. This includes New Payments Platform (NPP), Australia’s account-to-account fast payments open access infrastructure, giving consumers even more choice over their payments experience.
Australia is a significant market for ecommerce in APAC and globally. It is the world’s 12th largest economy and had an ecommerce market value of USD 47 billion (with 8.9% growth) in 2022, as per the press release. Internet penetration in Australia is 91% and over 90% of Australian internet users make online purchases.
For more information about Nuvei, please check out the company profile in The Paypers Company Database.
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