Nuvei launches direct local acquiring capabilities in Colombia

Canadian fintech company Nuvei Corporation (TSX:NVEI) has launched direct local acquiring capabilities in Colombia, further expanding its presence in Latin America (LATAM) and strengthening its overall footprint in the region.

Nuvei is the first global payments company to offer direct local acquiring in Colombia, enabling local and international partners to accept card payments from their customers in the country without relying on intermediaries or third-party payment processors. Simplifying payments relationships in Colombia enables eCommerce businesses to maintain greater control over transaction flow management, as well as develop a more localized payments experience for customers.

Benefits of direct local acquiring to eCommerce businesses selling to customers in Colombia through their global integration with the Nuvei platform include card authorization rate uplift, reduced settlement times from days to potentially less than 24 hours, and optimized processing resource commitments.

Philip Fayer, Nuvei Chair and CEO, commented:

ā€œLaunching our direct local acquiring capabilities in Colombia augments our presence in LATAM and reinforces our commitment to growth in the region. We are already active in more than eleven markets in LATAM through direct integration into local acquirers and networks, and adding direct local acquiring capabilities in Colombia strengthens our ability to provide best-in-class services to our customers across the region.ā€