Canadian fintech firm Nuvei has integrated with monetisation platform Zuora, aiming to power subscription payments.
The alliance is intended to provide Zuora’s customer base with payments infrastructure that can help facilitate expansion into both existing and new markets.
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The collaboration combines the strengths of Zuora’s monetisation capabilities with Nuvei’s acquiring network, which includes support for various local payment methods and the ability to optimise transactions in real time.
Nuvei CEO and chair Phil Fayer said: “This integration with Zuora reflects our ability to support complex, high-volume businesses with agile, modular payment solutions, particularly in growth markets like Latin America, where consumer demand for subscription services is accelerating.”
The integration is designed to simplify the recurring payment process for businesses, potentially improving transaction approval rates, reconciliation, and simplifying market growth that requires numerous local integrations or partnerships with multiple PSPs.
Zuora vice president of strategic partnerships and M&A Daniel Enekes said: “This partnership marks a significant step in scaling the global reach of Zuora’s monetisation platform.
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By GlobalData“As more enterprises adopt recurring revenue models, especially in high-growth markets, our integration with Nuvei empowers them to scale subscription, usage-based, and hybrid offerings with the agility, compliance, and local payment sophistication needed to succeed worldwide.”
Zuora’s platform offers tools for businesses to develop and scale their operations, accommodating a variety of pricing models, including usage-based and subscription bundles.
The platform spans several functions, such as pricing, packaging, billing, payments, and revenue recognition, all structured to aid companies in adjusting and expanding their monetisation strategies.
In June, Nuvei initiated operations as a direct payment acquirer in Canada, a move that allows for the local processing of transactions through its platform.
