Global payment tech partner Nuvei has debuted a capability enhancement that allows international merchants to accept local payment methods in 10 Latin American countries, the company announced Tuesday (Jan. 4).
The company’s solution, which also includes international card schemes and alternative payment methods, will streamline the setup for accepting local payment methods and help out with acceptance.
Per the announcement, that will come with settlement in local currency and non-Latin American currencies, regional settlement or a combination of any of those. Latin American payment ecosystems tend to vary between countries, and merchants need a local presence to achieve high acceptance rates.
Nuvei’s services include making it easier to process payments, in addition to cutting down on the overhead to set up infrastructure for local payments.
By working with Nuvei, businesses are able to operate locally in Latin America with or without a local presence. That will help international businesses with consumers there, and includes business verticals like online retail, marketplace, social gaming and non-fungible tokens (NFTs).
“We’re excited to continue expanding our support to global merchants with this key offering in Latin America,” said Philip Fayer, Nuvei chair and CEO. “Our localized solutions enable domestic and international businesses to reach their customers more securely and effectively.”
Meanwhile, general manager Juan Franco said the local Latin American presence “ensures that we are well-positioned to service new and existing global customers in this fast-growing region.”
In November, Nuvei received an event wagering and fantasy sports supplier license in Arizona. Online sports betting was legalized there last April, and there was a launch of regulated sportsbooks and sportsbook apps as of September.
See also: Nuvei to Add Arizona Event Wagering and Fantasy Sports Payments
According to Arizona officials, sports wagering could be worth more than $3 billion per year, generating $200 million in gaming revenue for the state.
In October, Nuvei was also selected to provide custom player acquisition, verification and payment solutions for Dutch state-owned company Holland Casino.
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