Canadian fintech company Nuvei Corporation (TSX:NVEI) today announced the launch of several new features and enhancements for its Nuvei for Platforms product.
Nuvei for Platforms is designed to accelerate growth and drive revenue for various business models, including marketplaces, commerce platforms, the gig economy, payment facilitators, and independent software vendors (ISVs). Through a single integration, businesses can customize Nuvei’s comprehensive suite of payments technology, including merchant onboarding, pay-ins and payouts, optimization, orchestration, fraud prevention, and risk management.
Highlights of Nuvei for Platforms’ new features and enhancements include:
- Decoupled pay-ins and payouts to provide greater flexibility in managing cash flow, optimize currency conversions, and tailor payment strategies to specific market needs. Businesses can also expand their geographic reach for payment acceptance, choosing from over 700 local and alternative payment methods. Nuvei for Platforms currently supports decoupled pay-ins and payouts in the UK and EU, with global expansion to follow.
- Split Payments: Nuvei’s split payments feature streamlines operations by automatically splitting each processed transaction into the platform’s commission and the seller’s fee, ensuring PSD2 compliance. It also enables seamless multi-seller management and simplifies regulatory compliance by keeping the platform out of the money flow.
- Auto Reconciliation: Nuvei’s auto reconciliation capabilities consolidate multiple incoming payment flows into a single payout to the seller or platform, simplifying accounting and operations.
- Balance Management: New features include the ability to transfer funds between marketplace and seller accounts, allowing platforms to charge for corrections or monthly fees.
- Seller Invoicing: Nuvei’s seller invoicing feature has been updated to offer enhanced customization and white-label options, allowing businesses to tailor invoices to their brand identity and specific operational needs.
“Our mission is to empower businesses to connect more deeply with their customers through innovative payments solutions. This new functionality is a testament to that commitment,” said Philip Fayer, Nuvei’s Chair and CEO. “By enhancing the embedded payments capabilities of our platform, we’re enabling our customers – from marketplaces and commerce platforms to payment facilitators and software providers – to offer a seamless, customized payments experience that unlocks new growth opportunities.”
In conjunction with introducing these new product enhancements to its Nuvei for Platforms offering, Nuvei recently acquired marketplace technology provider Payaut.
