Nuvei Corporation the global payment technology partner of thriving brands, announced that it has enhanced its global payment capabilities by enabling smart routing of payments across the UK and Europe with Faster Payments in the UK and Instant and Regular SEPA in Europe.
With these recent integrations and Instant SEPA increasing adoption, Nuvei’s instant payment offering is getting ever more global. This unique proposition enables the smart routing of instant and regular payments to achieve best acceptance rates and lowest fraud exposure. The key features of UK and European Open Banking in particular, allow users and merchants to pay and get paid instantly, within seconds, in multiple currencies and countries across the region.
The feature also empowers consumers with greater choice by offering card-free solutions that allow people to receive money faster through payouts such as refunds or insurance claim settlements.
The solution is getting great traction with merchants, especially those with higher Average Transaction Values (ATVs) as it gives access to higher limits than with card transactions. Its embedded KYC solution also unlocks significantly higher transaction limits for ID- and source of funds-verified users.
“We’ve seen our customers demanding repeatedly, smart and easy-to-integrate solutions to enable bank transfers and instant payments, especially in high ATV verticals,” said Philip Fayer, Nuvei’s Chair and CEO. “Consumers are also asking for more choice beyond cards to receive money quicker. We are delighted that, with these recent additions in Europe, we’re supporting our merchants’ growth across the globe.”