Nuvei has announced that it has become a direct payment acquirer in Canada, allowing businesses in the region to process domestic transactions locally through it.
Through this move, Nuvei seeks to eliminate the need for third-party processors and scale payment approval rates. Additionally, by processing transactions directly through Nuvei, merchants across Canada are set to be able to benefit from increased sales while also reducing lost transactions and providing a more optimal experience to customers.
Furthermore, becoming a direct payment acquirer in Canada further supports Nuvei’s global strategy to develop direct acquiring capabilities in major markets. At the same time, the company aims to advance its commitment to building local infrastructure that assists its objective of enabling payments regardless of location.
What will Nuvei provide Canadian businesses with?
As of the announcement, Nuvei is set to offer businesses in Canada higher approval rates through local processing and intelligent routing, as well as minimised payment complexity by mitigating the need for intermediaries. Also, the company will provide support for major card brands and real-time payout options, with businesses being able to access over 700 alternative payment methods and 150 currencies, in turn supporting their international development.
Moreover, Nuvei will facilitate unified reporting, simplified reconciliation, and improved interchange cost prediction through a single platform, as well as augmented omnichannel capabilities that allow businesses to serve customers across in-store and online environments. Along with this, the company plans to deliver increased conversions and optimised overall payment performance. Now, Canadian merchants benefit from the same approach used by Nuvei’s global clients operating across retail, digital goods, gaming, financial services, and marketplaces.
Commenting on the news, representatives from Nuvei emphasised that, by merging local acquiring with a global platform, their company aims to support merchants achieve higher approval rates, better conversions, and more predictable interchange costs. Through this, Nuvei seeks to enable businesses to expand their operations and compete globally.
For more information about Nuvei, please check out their detailed profile in our dedicated, industry-specific Company Database.
