Canadian fintech company Nuvei has announced the launch of an advanced omnichannel payment transaction solution for merchants and commercial platforms.
The unified commerce offering, which is also available to customers living outside North America, provides firms with the opportunity to develop new payment methods with a greater level of control and unified analytics without significant effort. The relevant information is contained in the Nuvei press release, which was published last Wednesday, February 7.
Philip Fayer, CEO and chairman of the board of the fintech company said that a unified approach to payment transactions across all channels is becoming increasingly important for businesses. In this case, a high level of compliance with customer expectations is ensured, opportunities are created to accelerate growth, and revenue optimization is guaranteed.
The Nuvei press release also notes that the new solution combines Nuvei card-present (CP) and card-not-present (CNP) technologies for e-commerce, mobile transactions, and financial operations performed in stores. As part of this fintech company’s offer, sellers are allowed to combine online payment acceptance and retail into a single integration for several jurisdictions.
Nuvei’s new solution allows buying or adding items to the checkout basket when placing an order through a single channel. In this case, at the same time, the customer can change purchases or request a refund through another channel. Businesses also can launch separate pricing, loyalty, and incentive programs for e-commerce and physical channels.
The new solution was implemented a few days after Cash App and Nuvei teamed up to provide companies from the United States with the ability to accept payments via Cash App at their online checkout. In this case, firms will be able to add 680 alternative payment methods to virtual checkouts.
Consumers receive a payment method using a Cash App balance or a linked debit card. They can scan a QR code or click Cash App Pay during online checkout.
Juan Franco, senior vice president for e-commerce in the Asia-Pacific region at Nuvei, said during a conversation with media representatives that there are seven countries in Southeast Asia with different regulatory conditions, which is why, to use a single strategy in this case, it is necessary to understand the specifics of each jurisdiction, to know the dynamic of the market and be informed about every payment landscape. He also noted the importance of understanding the various alternative payment methods. According to him, in countries such as China, Indonesia, and the Philippines, consumers are actively using digital wallets. At the same time, Buy Now, Pay Later (BNPL) is popular in the Australian financial services market.
The landscape of global commerce is complex, which is why orientation in this space belongs to the category of difficult tasks. In this case, using the experience of an industry player like Nuvei can be crucial to facilitate the process for sellers operating in a virtual environment and seeking to go beyond the existing boundaries of their business. The corresponding statement was made by Juan Franco.
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