Nuvei’s B2B payment capabilities and enterprise resource planning (ERP) integrations now come with increasingly robust Canadian processing capabilities.
Based on the information detailed in the press release, following this upgrade, B2B businesses working with Nuvei are now enabled to provide their Canada-based customers with a holistic payments solution including card-not-present and account-to-account processing capabilities, Level 3 processing, and Nuvei’s advanced proprietary accounts receivable (AR) solution, directly integrated within their ERP system. Nuvei’s AR solution includes benefits of the like of simplified workflows and back-office efficiencies, unique payment capabilities designed to address the nuances and complexities associated with B2B commerce, and shortened invoice-to-cash cycles.
B2B payments make up a quickly growing sector of the Canadian payments landscape, as well as a requirement for the continuous growth of multiple businesses with a focus on domestic or cross-border commerce in Canada. Nuvei is making use of existing deep integrations into multiple ERP solution providers operating in Canada through partnerships in other geographies to expedite its launch in the country. Additionally, Nuvei’s B2B payment capabilities are oftentimes powered through back-end integrations with ERP software systems that enable organisations to manage day-to-day activities across operations, finance, procurement, and commerce.
New features of Nuvei’s B2B payment function that are now available to Canadian businesses include the ability to offset the cost of card acceptance with fee recovery, automated invoicing – saving both time and money, tokenized payment account information stored on file and accessible, and dynamic discounting to further decrease the time length to access cash.
When commenting on the announcement, company officials said that B2B payments mark a key growth vertical for Nuvei. Having been successful in supporting its partners and their customers with advanced payment solutions in the US, the company is planning to expand its capabilities internationally. More to this point, as an international payment services provider with roots in Canada, Nuvei is looking forward to bringing a much-needed holistic payment solution to businesses and its partners supporting businesses in the Canadian market.
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