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 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.

Last month, the company joined forces with Curve, a banking platform, to enhance digital wallet 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.