Canadian fintech Nuvei launches in Australia
Canada-based fintech Nuvei has announced that Australian businesses can now access the full suite of payment solutions.
Australian businesses operating locally and globally will benefit from Nuvei’s technology built to accelerate their growth. Nuvei’s payment platform enables businesses to optimize operating costs and increase conversion rates by maximizing payment acceptance, minimizing risk and improving the consumer payment experience. This includes offering all local and relevant payment methods.
Expanding to Australia
Launching in Australia is the latest initiative by Nuvei as it continues to grow its presence and capabilities in the Asia-Pacific region, following the successful launch in Singapore and Hong Kong in 2022.
Company officials stated that their mission is to connect customers with customers regardless of location, payment method or currency. Launching in Australia is a natural step for their continued expansion in APAC, having established a strong and growing presence in the region.
Certified to operate in the Australian market
Nuvei is launching in Australia after securing regulatory and regulatory licenses to support customers with local purchases in the country.
Nuveis officials added that they know the role local sourcing plays in payment optimization, which is why Nuveis’ local sourcing network around the world is helpful. Being able to support sellers in Hong Kong, Singapore and now Australia with local sourcing solutions shows their commitment to their customers’ growth.
While debit and credit card payments are the primary online payment method for Australian consumers, alternative payment methods (APMs) are also growing in popularity. The Nuvei technology enables businesses to accept all relevant payment methods in the region (including local currencies for cross-border transactions) in addition to card collection. This includes the New Payments Platform (NPP), Australia’s account-to-account infrastructure for fast, open access payments, giving consumers even more choice over the payment experience.
Australia is a significant market for e-commerce in APAC and globally. It is the world’s 12th largest economy and had an e-commerce market value of US$47 billion (with 8.9% growth) in 2022, according to the press release. Internet penetration in Australia is 91% and over 90% of Australian internet users make purchases online.
For more information about Nuvei, please check out the company profile in The Paypers Company Database.
