PYMNTS MonitorEdge May 2024

Adobe Taps Nuvei to Expand eCommerce Payment Options

Nuvei and Adobe

Canadian FinTech company Nuvei has formed a new global partnership with Adobe to enhance eCommerce payments.

Through its integration with Adobe Commerce, Nuvei’s full payment suite will be accessible to Adobe Commerce customers via a single application programming interface (API), the companies said in a Tuesday (Jan. 23) press release.

“After a record-setting holiday season for eCommerce, businesses are having to adapt quickly to keep up with customer demand for personalized and convenient online shopping experiences,” Jason Knell, senior director of content and commerce partnerships at Adobe, said in the release.

This collaboration aims to meet that challenge by simplifying payment relationships for businesses operating on Adobe Commerce and helping them expand into new markets, according to the release.

One of the key highlights of this partnership is the access to over 680 regional alternative payment methods (APMs) through Nuvei’s API integration, the release said. This will allow Adobe Commerce merchants to offer their customers a wide range of payment options tailored to local preferences. Additionally, businesses will be able to expand internationally through the same, single integration.

In addition to APMs, Adobe Commerce customers can enable Automated Clearing House (ACH) account-to-account transactions in the United States, per the release.

“We want to enable our customers to reach their customers, wherever they are in the world and however they want to conduct eCommerce,” Philip Fayer, chair and CEO of Nuvei, said in the release. “For businesses, an effective, personalized approach to payments strategy is key, and that is what this partnership is delivering for users of Adobe Commerce.”

Nuvei offers modular, flexible and scalable technology that allows companies to accept next-gen payments and offer various payout options, according to the release. The company offers local acquiring capabilities in 50 markets, acceptance of 150 currencies and support for 680 alternative payment methods.

PYMNTS Intelligence has found that online trading in international markets carries higher risks and greater exposure to payments frictions than solely operating in the U.S. domestic market.

These challenges underscore the need for businesses to implement effective mechanisms and screening tools to prevent fraud and minimize payment frictions, ultimately enhancing payment experience and customer retention, according to “The Role of Fraud Screening in Minimizing Failed Payments,” a PYMNTS Intelligence and Nuvei collaboration.

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