Canadian fintech company Nuvei has announced the launch of a new global partnership with Adobe to improve the payment transaction process in the sphere of e-commerce.
Information about the cooperation is contained in the joint press release of the two mentioned companies, which was published last Tuesday, January 23. As a result of the implementation of the partnership, Nuvei’s full payment suite will be available to Adobe Commerce customers through a single application programming interface.
Jason Knell, Adobe’s senior director of content and commercial partnerships, says that after a record-breaking holiday season, companies must adapt quickly to keep up with consumer demand for personalized and convenient purchases on virtual platforms.
The press release notes that the cooperation between the two firms is aimed at solving the specified task by simplifying payment relations for firms that work in Adobe Commerce and helping them enter new markets. Within the framework of this partnership, access to more than 680 regional alternative payment methods is a particularly important aspect. This advantage is provided by the integration of the Nuvei application programming interface. Moreover, a single integration will provide businesses with the opportunity to expand internationally.
Separately, the press release notes that Adobe Commerce customers can enable an Automated Clearing House to conduct financial transactions between accounts in the United States.
Philip Fayer, Chairman of the Board and CEO of Nuvei, stated his desire to provide customers with the opportunity to contact consumers regardless of their location and e-commerce mechanisms. According to him, the most important object of interest for businesses is an effective personalized approach to payment strategy. Philip Fayer noted that partnerships meet the relevant needs of Adobe Commerce users.
The press release stated that Nuvei offers modular, flexible, and scalable technology. As part of this solution, companies can accept next-generation payments and offer various payment options. Nuvei offers local acquiring opportunities in 50 markets. The company provides the ability to accept 150 currencies and supports 680 alternative payment methods.
Virtual trading on the global market involves a higher level of risk and a greater degree of exposure to payment friction than operating exclusively in one country. Against the background of these difficulties, companies should implement effective mechanisms and tools for conducting checks to prevent fraud and minimize problems with making payment operations. The successful solution of the relevant tasks will contribute to improving the quality of the corresponding transactions and will become a factor of beneficial influence on customer retention.
The issue of ensuring security in the financial system is critical. In this case, the degree of risk affects the consumers of the relevant services at the moment of choosing a solution for operations. A high probability of loss of funds logically contributes to the rejection of certain financial products.
As we have reported earlier, Coinbase Commerce Partners With Chainalysis for Crypto Payments.