#None #Nuvei #Financial Services #Payment Platform

Nuvei Enhances Global Payment Platform for North America

The global payments technology company Nuvei has recently expanded its proprietary clearing and settlement platform to include North America, specifically targeting the U.S. and Canadian markets. This significant update is set to modernize the payment infrastructure in the region, resulting in faster reconciling times for merchants, improved data visibility, and streamlined processes.

As businesses adapt to an ever-changing financial landscape, Nuvei’s expansion brings a host of advanced features. Among these is the introduction of per-transaction interchange prediction, enabling merchants to see the exact cost of every transaction in real-time. This innovative approach allows users to manage their finances with greater accuracy and reduced manual intervention. Remarkably, early adopters of this new system have reported a staggering 60% decrease in manual reconciliation efforts, leading to fewer inquiries related to fees and a wealth of data points to inform business decisions.

This newly enhanced platform not only simplifies reconciliation processes but also introduces several advanced financial reports previously unavailable to North American merchants. With access to Balance Reports, Settlement Summary, Chargeback Reports, and Movement Reports, businesses can now achieve deeper insights into their financial health, enabling better cash flow forecasting.

According to Phil Fayer, Nuvei's Chair and CEO, “Modernizing our North American infrastructure with our proprietary clearing and settlement capabilities marks a major milestone for Nuvei. Now, merchants in the U.S. and Canada operate on the same platform as our global customers, gaining significant transparency and control. This update also allows international businesses operating in North America to seamlessly view their operations across different regions.”

Enhanced Transparency and Interchange Fee Insights

One of the standout features of Nuvei’s new platform is the increased transparency regarding transaction flows and interchange fees. Merchants can now have a granular view of each financial transaction, making forecasts and strategic decisions more straightforward and reliable. Traditional guesswork is eliminated, allowing for improved profitability and forecasting accuracy.

The final details of how funds move and settle are presented in real-time, supported by predictive insights into interchange fees. Such precision not only removes errors but also significantly enhances the planning capabilities of finance teams, thereby increasing their operational efficiency.

Additionally, Nuvei has integrated chargeback management directly into its control panel, giving users the ability to oversee the entire chargeback lifecycle. This includes options to upload supporting documentation and communicate directly with agents to promptly tackle disputes, further streamlining operations.

Unified Experience through the Nuvei Control Panel

The introduction of the Nuvei Control Panel provides a single-login interface through which all clearing and settlement operations can be managed. This unifies and simplifies processes across various markets, payment types, and currencies, helping to create a consistent user experience devoid of fragmented tools and workflows.

Both finance and operations teams can now allocate their time to strategic development rather than resolving discrepancies. The enhanced audit trails and real-time visibility contribute to more robust decision-making and operational integrity for businesses concentrated on growth.

A Foundation for Future Innovations

This expansion is not merely an upgrade; it lays the groundwork for future innovations within Nuvei’s platform. With an ongoing commitment towards direct local acquiring in Canada and enhancing routing efficiencies, the company is gearing up for groundbreaking developments. Future enhancements may include programmable settlement flows, treasury optimization tools, real-time payouts, and next-gen capabilities supporting digital assets.

In a world increasingly moving towards integrated and efficient financial solutions, Nuvei is positioning itself as a leader in reducing third-party reliance, improving approval rates, and ensuring that clients can thrive in a global marketplace through strategic access to comprehensive financial tools.

About Nuvei

Nuvei is committed to accelerating client businesses globally. With their modular, scalable technology, merchants can accept next-generation payment solutions, access various payout options, and benefit from comprehensive banking and risk management services. Nuvei's extensive network spans more than 200 markets with local acquiring in 50 markets, supporting 150 currencies and over 720 alternative payment methods. This infrastructure empowers clients and their customers to achieve success locally and internationally with just a single integration.

For more information, visit www.nuvei.com.