Consumers are able to seamlessly convert
assets such as cryptocurrencies into fiat
funds
MONTREAL and LONDON, July 11,
2024 /CNW/ -- Nuvei Corporation ("Nuvei" or the
"Company") (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech
company, announces today a partnership with Mastercard to launch a
new off-ramping solution that enables consumers in Europe to seamlessly convert their Digital
Assets, including cryptocurrencies, into
traditional fiat currency via debit, credit and prepaid cards. This
new functionality provides a bridge between digital and traditional
finance that can be spent via Mastercard's global network. This
off-ramping solution is integrated directly into Nuvei's modular
payment platform, delivering a simple, secure user experience.
The off-ramping process is designed to be rapid and
user-friendly. Consumers can seamlessly convert a wide range of
supported Digital Assets into fiat currency. They can then transfer
the funds to their eligible Mastercard in near real-time*,
leveraging Mastercard Move's money movement capabilities. No longer
requiring third-party exchanges or money service businesses, this
integrated solution simplifies transforming digital value into
global spending circulation.
"We're excited to collaborate with Mastercard to accommodate
access liquidity and payments for Digital Asset holders," commented
Philip Fayer, Chair and CEO of
Nuvei. "Our mission is to enable businesses and their customers to
connect through payments, wherever consumers are and however they
want to pay. Offering crypto off-ramps through our
single integration aligns perfectly with this mission to facilitate
frictionless transactions across the digital economy."
"Enabling choice how consumers can engage in Digital Assets in a
safe, simple and secure manner in line with all relevant regulation
is at the heart of our strategy in this space," added
Christian Rau, Senior Vice President, Fintech and
Crypto Enablement, Mastercard Europe. "Combining our
global network of partners and digital solutions with Nuvei's
advanced integration opens new opportunities and choice for
businesses engaging in digital assets and consumers alike."
Nuvei's off-ramp solution with Mastercard is the latest example
of its strategy to connect the worlds of traditional payments, open
banking and blockchain technology into one seamless experience.
*Actual posting times for approved transactions will depend on
the receiving financial institution
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company
accelerating the business of clients around the world. Nuvei's
modular, flexible and scalable technology allows leading companies
to accept next-gen payments, offer all payout options and benefit
from card issuing, banking, risk and fraud management
services. Connecting businesses to their customers in more than 200
markets, with local acquiring in 50 markets, 150 currencies and 700
alternative payment methods, Nuvei provides the technology and
insights for customers and partners to succeed locally and globally
with one integration.
For more information, visit www.nuvei.com
NVEI-IR
Contact:
Public Relations
alex.hammond@nuvei.com
Investor Relations
IR@nuvei.com
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SOURCE Nuvei