Canadian fintech firm Nuvei has gone live as a direct payment acquirer, allowing businesses in the region to process domestic transactions locally via its platform. 

With this move, Canadian merchants are expected to increase sales capture, diminish the incidence of lost transactions, and deliver streamlined purchasing experience for consumers.  

The service aims to provide “higher” transaction approval rates through local processing and intelligent routing, while also reducing the “complexity” associated with multiple payment intermediaries. 

Additionally, Nuvei’s new service offers real-time payout options, granting merchants access to over 700 alternative payment methods in 150 different currencies.  

The platform also promises unified reporting, simplified reconciliation, and supporting enhanced omnichannel capabilities, the company said in a press release. 

The announcement is in line with Nuvei’s global strategy, which aims to simplify and amplify payment processes for businesses across various markets through a single integrated platform.  

This platform encompasses payment acceptance, optimisation, risk management, and payout functionalities. 

Nuvei chair and CEO Phil Fayer said: “Becoming a direct acquirer in Canada reflects our strategy to build direct acquiring capabilities in every major market. There is no better place to showcase this than Canada, where our journey began. By combining local acquiring with our global platform, we help merchants achieve higher approval rates, better conversions, and more predictable interchange costs.  

“Alongside powerful omnichannel capabilities and simplified reconciliation, we’re giving businesses around the world the infrastructure they need to grow faster and compete globally.” 

In May, Nuvei (EPI), integrating the Wero digital wallet into its suite of payment solutions for e-commerce businesses.  

This integration provide Nuvei’s merchant clients with early access to the Wero payment solution via their existing Nuvei platform integration.