The Canadian fintech company Nuvei Corporation has partnered with Cash App, introducing Cash App Pay as an online payment method. This collaboration aims to enhance the payment experience and open new avenues for businesses seeking to broaden their customer base and accelerate revenue growth.
Simplifying Online Payments
With the option to make payments by scanning a QR code or tapping Cash App Pay during checkout, the new platform enables users to transact using their Cash App balance or linked debit cards. According to the company, businesses integrating Cash App Pay can benefit from high payment acceptance rates.
Philip Fayer, Nuvei's Chair and CEO, mentioned in a statement on the company's website: "Cash App Pay is being rapidly adopted as a payment method in the US, especially with younger consumer demographics. Our mission is to support our partners to engage with their customers, wherever they are and however they want to pay."
"This partnership enables businesses to integrate Cash App Pay into their online payments experience effortlessly, attracting new customers and accelerating revenue growth in the process."
This partnership is part of Nuvei's efforts to expand its portfolio of alternative payment methods (APMs). Nuvei's customizable platform empowers businesses to incorporate relevant APMs into their online checkouts for customers across diverse markets.
Nuvei's Forge Key Partnerships
Last month, Nuvei Corporation and Adobe partnered to enhance eCommerce payments. By integrating the fintech company's payment suite with Adobe Commerce, businesses can tap into a wide range of regional payment methods, totaling 680 options.
Nuvei's collaboration with Adobe signified a pivotal step towards enhancing payment experiences in the eCommerce landscape. With the rise in online shopping demand, businesses are increasingly focused on providing personalized and convenient payment solutions for their customers.
The integration covers various regional alternative payment methods, ensuring merchants can offer localized and tailored payment experiences to their customers. Moreover, businesses operating in the US can leverage automated Clearing House transactions, aligning with the growing trend of account-to-account payments.
Besides that, Nuvei has partnered with Microsoft to optimize transactions in the Middle East and Africa through access to diverse local payment methods and authorization processes.
Nuvei's geographical expansion in the Asia Pacific region involves establishing a presence in China and securing local licenses in key markets. The company has partnered with Mastercard to offer instant payouts to bank cards, catering to the growing online trading activity worldwide.
