Global fintech leader approved to acquire UK-based merchants requiring Mastercard and Visa licenses
MONTREAL and CYPRUS, June 02, 2021 (GLOBE NEWSWIRE) — Nuvei Corporation (“Nuvei” or the “Company”) (TSX: NVEI and NVEI.U), the global payment technology partner of thriving brands, announced today that its wholly owned FCA regulated subsidiary has secured the scheme licenses to continue acquiring and processing Mastercard and Visa payments for merchants based in the United Kingdom (UK) beyond the expiry of the FCA Temporary Permissions Regime.
Coming at a crucial time in the eCommerce boom and the impending expiration of the FCA Temporary Permissions Regime, merchants in the UK can continue leveraging Nuvei’s full suite of products and solutions to process payments, with approved licenses.
“For UK merchants seeking a locally regulated payments partner, approved licenses will be critical,” said Philip Fayer, Nuvei’s Chair and CEO. “As a truly global fintech provider, we continue to support local businesses as they navigate and grow in this surging eCommerce market. Looking ahead to a post-Brexit economy, we remain committed as ever to providing the most innovative payment solutions and best service available to merchants in the UK and around the world.”
We are Nuvei (TSX: NVEI and NVEI.U), the global payment technology partner of thriving brands. We provide the intelligence and technology businesses need to succeed locally and globally, through one integration – propelling them further, faster. Uniting payment technology and consulting, we help businesses remove payment barriers, optimize operating costs and increase acceptance rates. Our proprietary platform provides seamless pay-in and payout capabilities, connecting merchants with their customers in 200 markets worldwide with local acquiring in 44 markets. With support for over 470 local and alternative payment methods, nearly 150 currencies and 40 cryptocurrencies, merchants can capture every payment opportunity that comes their way. Our purpose is to make our world a local marketplace.
For more information, visit www.nuvei.com.
This presses release contains “forward-looking information” within the meaning of applicable securities laws, including statements with regards to the potential opportunities arising from the Company’s securing of scheme licenses to continue processing UK payments. Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include but are not limited to those described under the “Risks Factors” section of the Company’s annual information form filed on March 17, 2021. Forward-looking information is based on management’s beliefs and assumptions and on information currently available to management. Although the forward-looking information contained in this press release is based upon what management believes are reasonable assumptions, you are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this press release is provided as of the date of this press release, and the Company does not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.