Nuvei has announced its partnership with Mastercard in order to provide online merchants and traders from the APAC region with instant cash-outs. Following this announcement, the companies will allow new payout capabilities for online trading platforms, investors, and merchants in the Asia Pacific region.

The offerings will enable customers and partners to leverage fast, efficient, and secure services while using the Mastercard Send product. By using Mastercard Send, customers will be given the opportunity to use a more convenient manner of making their investments, while benefiting from the fraud detection and prevention services offered by Mastercard. When the client wants to cash out, they will need to input their card details and make a request for the solution.

The option of making the request is located in the platform cashier of Mastercard Sent, and after its completion, the client will receive the funds immediately. Investors and merchants are enabled to make quick and secure decisions, having full visibility over their funds and their real-time availability. The Mastercard Send is currently accessible to Nuvei customers in Singapore, offering clients, acquirers, governments, and businesses the possibility of using rapid payment methods.

According to the press release, the Send service is set to be made available in Australia and Hong Kong SAR later this year, enabling Nuvei users to process payouts (such as business-to-customer disbursements) and to fund transactions between 1,5 billion debit, credit, and prepaid Mastercard cards. Nuvei’s strategy of development Canadian fintech company Nuvei had multiple partnerships and product launches in the last couple of months, covering several different geographical areas around the world. In August 2023, the company announced its partnership with Stuvia, a marketplace that enables clients to buy and sell educational materials, in order to expedite its international growth and development.

Nuvei was set to improve the optimisation process of Stuvia’s capabilities and to expand its overall target customer base internationally. Stuvia leveraged Nuvei’s global reach, technology, and expertise within local acquiring capabilities in 47 markets, to gain new users, decrease costs through payments, and accelerate revenue growth. Stuvia also capitalised on Nuvei’s risk management engine in order to maximise its card payment acceptance rates, while identifying fraudulent transactions ahead of their occurrence as well.

Earlier in the same month, the company partnered with iGaming operator 888 to improve its payment experience in the US and to increase the overall acceptance rates. Nuvei was selected by the company to boost and optimise its card-acquiring and local payment method offerings. This aimed to expedite its development in the US iGaming landscape and to meet the needs and preferences of its customers at the same time.

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