Canadian FinTech Nuvei has launched an enhanced omnichannel payments solution for merchants and platforms.
The unified commerce offering, being made available to customers outside of North America for the first time, lets businesses “develop new customer payments experiences with greater control and unified analytics effortlessly,” the company said in a Wednesday (Feb. 7) news release.
“A unified approach to payments across channels is increasingly critical for businesses to meet customer expectations, optimize revenues, and accelerate growth,” added Philip Fayer, Nuvei CEO and chair.
According to the release, the solution aligns Nuvei’s card-present (CP) and card-not-present (CNP) technology for eCommerce, mobile, and in-store transactions, allowing merchants to merge online and retail payment acceptance into one integration for multiple jurisdictions.
Consumers, meanwhile, can buy or add products to the checkout basket through one channel while amending purchases or request a refund through another. Businesses can also run separate pricing, loyalty and incentive programs for eCommerce and physical channels.
The launch comes days after Cash App and Nuvei teamed to give U.S. businesses the option of accepting Cash App Pay in their online checkout through their existing integration with Nuvei, letting businesses add 680 alternative payment methods to their online checkouts.
Consumers get an alternative payment method via their Cash App balance or linked debit card, They can scan a QR code or tap Cash App Pay during online checkout.
Meanwhile, PYMNTS spoke recently with Juan Franco, senior vice president of eCommerce for the Asia-Pacific (APAC) region at Nuvei, about some of the challenges companies face when expanding overseas.
“For example, there are seven countries with seven different regulatory environments in Southeast Asia, so even if you want to use one strategy for this specific region, you need to understand every single country, its [market dynamics, and] how each of their payment landscapes has evolved,” Franco said.
This also includes a grasp of the diverse alternative payment methods (APMs) in play, Franco added. To illustrate this, he pointed out differences across APAC and Southeast Asia, from the prevalence of digital wallet use in places like China, the Philippines and Indonesia, and the widespread adoption of buy now, pay later (BNPL) in Australia.
Navigating this complex global commerce landscape can be difficult, which is why using the expertise of an established global provider like Nuvei can be crucial in easing the process for eCommerce merchants seeking to grow beyond borders, Franco explained.