Nuvei has launched card issuing solution globally as part of its financial offerings. This step allows the Canadian fintech company's clients to provide customized physical and virtual cards to customers, employees, or contractors across 30 markets.

Philip Fayer, the Chair and CEO of Nuvei, mentioned: "This solution has practical applications for our clients, benefiting their customers by improving their own working capital and simplifying their back-office processing."

Initially available across the European Economic Area, this service will expand into the UK, US, and Latin America by 2024. Currently, Nuvei offers services that encompass various use cases, including virtual cards facilitating B2B payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term and payment cards for various sectors, such as insurance and gaming.

Nuvei Expands Services in the Financial Space

Additionally, Nuvei offers Wallet-as-a-Service to support specific needs, such as loyalty programs for businesses. Notably, virtual cards optimize working capital efficiency by granting businesses instant access to collected funds. Nuvei is paving the way in the fintech landscape through strategic partnerships.

Enabling a range of applications from consumer payouts to B2B payments, our latest solution is tailored to the diverse needs of modern businesses, accelerating revenue and streamlining capital efficiency.

Read the full press release here: https://t.co/SsA5kPbLVh 💳 pic.twitter.com/aeEFxPiPbX

— Nuvei (@Nuvei) November 29, 2023

Last month, the company joined forces with Curve, a banking platform, to enhance digital wallet Digital Wallet A digital wallet is a popular mechanism referring to an electronic device, online service, or software program that allows one party to make electronic transactions with another party.This involves the bartering or exchange of digital currency, including cryptocurrency for goods and services. Money can be deposited in the digital wallet prior to any transaction, which also includes an individual's bank account that is linked to the digital wallet. A digital wallet can include more than just digi A digital wallet is a popular mechanism referring to an electronic device, online service, or software program that allows one party to make electronic transactions with another party.This involves the bartering or exchange of digital currency, including cryptocurrency for goods and services. Money can be deposited in the digital wallet prior to any transaction, which also includes an individual's bank account that is linked to the digital wallet. A digital wallet can include more than just digi Read this Term payments. This collaboration intends to optimize card transactions and introduce alternative payment methods within Curve's ecosystem.

In the partnership, Nuvei's payment technology will enable Curve to accept VISA and Mastercard transactions using a smart routing engine that maximizes the chances of a transaction being accepted while minimizing operational costs.

Recently, Nuvei launched its office in China as part of its commitment to expand its presence across the Asian-Pacific region. This move aligns with Nuvei's objective to empower e-commerce entities with global reach and localized market expertise. The company is focusing on supporting e-commerce businesses seeking international scalability in the region.

Nuvei’s Partnerships beyond Regional Expansion

Nuvei's foray into China builds upon its existing partnerships with Chinese firms like Geekbuying, Vakatrip, and Cupshe, which are already utilizing its cross-border payment services. Its collaborations extend beyond regional expansions. Recently, the company partnered with Mastercard to enable faster and more secure deposits and payouts in its services. This initiative targets markets in Singapore, Australia, and Hong Kong.

Currently, Nuvei's customers in Singapore are benefiting from the instant payout system offered through MasterCard Send. The service is set to expand to Australia and Hong Kong, connecting disbursements and funding transactions involving 1.5 billion debit, credit, and prepaid MasterCard cards.