Canadian payment technology firm Nuvei has announced that its wholly-owned subsidiary has secured the scheme licenses to process UK payments post-Brexit.

The licenses will allow the firm to continue acquiring and processing Mastercard and Visa payments for UK-based merchants past the expiry of the FCA Temporary Permissions Regime.

It will also enable UK-based merchants to carry on with the use of Nuvei’s products and solutions to process payments, with approved licenses.

Commenting on the development, Nuvei chair and CEO Philip Fayer said: “As a truly global fintech provider, we continue to support local businesses as they navigate and grow in this surging eCommerce market.

“Looking ahead to a post-Brexit economy, we remain committed as ever to providing the most innovative payment solutions and best service available to merchants in the UK and around the world.”

Nuvei offers pay-in and payout capabilities through its platform, which connects merchants with their customers in 200 markets globally with local acquiring in 44 markets.

It also supports 470 local and alternative payment methods, around 150 currencies and 40 cryptocurrencies.

Last month, Nuvei received approval to process sports betting and iGaming payments in Michigan.

The same month, the firm agreed to acquire Israel-based crypto payment startup Simplex, following its deal to buy gaming and sports wagering payment technology firm Mazooma.