Canadian FinTech company Nuvei is making embedded payments accessible for businesses as a customer retention tool through its global expansion of Nuvei for Platforms.
According to a Tuesday (Nov. 15) press release, the platform is designed to give digital commerce, banking and FinTech platforms the ability to embed a secure payments option into their own platforms.
This innovation plays into the trend of businesses trying to retain customers and grow revenue.
Nuvei is helping to make this growing trend a priority through this new embedded payments platform, a tool to give their clients’ consumers the best possible experience.
“[Nuvei for Platforms] gives our clients access to the most cutting-edge payment processing technology, and under their own brand if they prefer,” said Nuvei CEO and Chair Philip Fayer.
According to a recent PYMNTS report, “Navigating The New eCommerce Landscape: Modernizing Payments For Marketplaces, Gaming, The Metaverse And Beyond,” businesses need innovative payment tools to stay competitive, but must also be ready to have seamless payments in every environment, traditional or virtual.
Payments service providers like Nuvei need to give businesses an easy way to adopt embedded payments tech, which will help them retain and grow their customer base.
The company’s most recent earnings results indicate Nuvei is on the right track with its secure payments innovation, noting a 30% increase in payments processing volume in the third quarter.
By expanding its embedded payments platform globally, Nuvei is also taking strides to make those same margins in the next quarter and beyond.
CEO Fayer also noted that Nuvei for Platforms’ expansion “reflects our drive to further diversify our distribution across both direct merchant integrations and through channels such as platforms and banks, making our offering even more ubiquitous.”