Payment technology firm Nuvei has expanded its partnership with payment giant Visa to extend fast digital payouts to the US.
The companies have already been working together to enhance digital payouts in Europe.
Canada-based Nuvei is expanding its payout capabilities in the US through the implementation of Visa’s real-time push payments platform, Visa Direct.
Visa Direct will help Nuvei’s clients to offer fast payout capabilities to their customers with near real-time routing and processing of transactions.
The firm expects the move to create a ‘secure and seamless’ payments experience for its merchant partners across any industry.
Nuvei chair and CEO Philip Fayer said: “As consumers are looking for faster, simpler and more connected experiences, it is crucial that we provide solutions that best address their needs. An important part of this is supporting payments in real time, delivering a truly frictionless payment journey.”
Visa Direct senior vice-president and global head Ruben Salazar added: “Our collaboration with Nuvei in Europe is already helping its customers realise the benefits of fast and secure digital payout capabilities via Visa Direct.
“We are excited to partner with Nuvei in the US so their clients can use Visa Direct to help them digitise paper-based, inefficient processes.”
Recent developments at Nuvei
In July this year, Nuvei adopted Alipay+ to make cross-border payments easier for merchants and help them take advantage of over 1.2 billion e-wallet users in the Asia Pacific region.
This June, Nuvei announced that its wholly-owned subsidiary received scheme licences to process UK payments post-Brexit.
The licences allowed the firm to continue acquiring and processing Mastercard and Visa payments for UK-based merchants past the expiry of the FCA Temporary Permissions Regime.
In May, Nuvei received approval to process sports betting and iGaming payments in Michigan.