- Businesses in Australia can now access Nuvei’s full suite of payment solutions
- The Australian launch follows launches in Singapore and Hong Kong
- Nuvei’s technology supports New Payments Platform (NPP), Australia’s account-to-account fast payments
- Australia, the world’s 12th largest economy, had an eCommerce market value of $47 billion in 2022
- Nuvei is a Canadian fintech company providing payment technology solutions to merchants and partners
- Nuvei Corporation (NVEI) opened trading at C$46.16
Nuvei Corporation (NVEI) announced that businesses in Australia can now access its full suite of payment solutions.
Nuvei’s payments platform enables businesses to optimize operating costs and boost conversion rates by maximizing payment acceptance, minimizing risk, and enhancing the consumer payment experience.
The Australian launch supports the company’s expansion in the Asia-Pacific region following its successful launch in Singapore and Hong Kong in 2022.
Nuvei Chair and CEO Philip Payer commented on the announcement.
“Our mission is to help our customers connect with their customers regardless of location, payment method or currency. Launching in Australia is a natural step for our continued expansion in APAC, having already established a strong and growing presence in the region. We know the role local acquiring plays in payment optimization, which is why Nuvei’s local acquiring network across the globe is unparalleled. Being able to support merchants in Hong Kong, Singapore, and now Australia with local acquiring solutions demonstrates our commitment to our customers’ growth.”
While debit and credit card payments are the primary online payment method for Australian consumers, alternative payment methods are also growing in popularity. Nuvei technology enables businesses to accept all the relevant payment methods in the region (including local currencies for cross-border transactions) in addition to card acquiring. This includes New Payments Platform (NPP), Australia’s account-to-account fast payments open access infrastructure, giving consumers even more choice over their payments experience.
Benefits of NPP for consumers include instant, 24/7/365 settlements, making this payment method particularly relevant for industries where payouts are critical to the overall payments experience.
Australia is a significant market for eCommerce in APAC and globally. It is the world’s 12th largest economy and had an eCommerce market value of $47 billion (with 8.9 per cent growth) in 2022. Internet penetration in Australia is 91 per cent, and over 90 per cent of Australian internet users make online purchases.
Nuvei is a Canadian fintech company whose technology allows companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Nuvei connects businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 600 alternative payment methods.
Nuvei Corporation (NVEI) opened trading at C$46.16.