Nuvei Corporation has launched card issuing solution globally as part of its financial offerings. This step allows the clients of the Canadian fintech company to provide customized physical and virtual cards to customers, employees, or contractors across 30 markets.

Philip Fayer, the Chair and CEO of Nuvei, mentioned: “This solution has practical applications for our clients, benefiting their customers by improving their own working capital and simplifying their back-office processing.”

Initially available across the European Economic Area, this service will expand into the UK, US, and Latin America by 2024. Currently, Nuvei offers services that encompass various use cases, including virtual cards facilitating B2B payments and payment cards applicable in various sectors such as insurance, gaming, and the gig economy.

Nuvei Expands Services in the Financial Space

Additionally, Nuvei offers Wallet-as-a-Service to support specific needs such as loyalty programs for businesses. Notably, virtual cards optimize working capital efficiency by granting businesses instant access to collected funds. Nuvei continues to pave the way in the fintech landscape through strategic partnerships.

Last month, the company joined forces with Curve, a banking platform, to enhance digital wallet payments. This collaboration intends to optimize card transactions and introduce alternative payment methods within Curve’s ecosystem.

In the partnership, Nuvei’s payment technology will enable Curve to accept VISA and Mastercard transactions using smart routing engine that maximizes transaction acceptance while minimizing operational costs.

Recently, Nuvei launched its office in China, solidifying its commitment to expand its presence across the Asian-Pacific (APAC) region. This move aligns with Nuvei’s objective to empower e-commerce entities with global reach and localized market expertise. The company focuses on supporting e-commerce businesses seeking international scalability in the region.

Nuvei’s Partnerships beyond Regional Expansion

Nuvei’s foray into China builds upon its existing partnerships with Chinese firms like Geekbuying, Vakatrip, and Cupshe, already utilizing its cross-border payment services. Its collaborations extend beyond regional expansions. Recently, the company partnered with Mastercard to enable faster and secure deposits and payouts in its services. This initiative targets markets in Singapore, Australia, and Hong Kong.

Nuvei’s customers in Singapore are already benefiting from the instant payout system offered through MasterCard Send. The service is set to expand to Australia and Hong Kong SAR later this year, connecting disbursements and funding transactions involving 1.5 billion debit, credit, and prepaid MasterCard cards.

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