Nuvei Corporation (NVEI) has expanded local acquiring services to support merchants in the United Arab Emirates (UAE) and North Africa.
Nuvei is certified by the Dubai Multi Commodities Centre and licensed to operate in the free trade zone.
This new development positions Nuvei to support its existing merchant base, as well as local merchants and international businesses looking to expand their footprint.
60 per cent of UAE consumers have purchased from an international online retailer.
Alternative payment methods (APMs) like Google and Apple Pay are also gaining significant traction.
Nuvei will support growth-minded merchants by offering access to its full stack of innovative solutions, plus direct connectivity to all the major payment card schemes.
Through one single point of integration, merchants will benefit from a seamless, secure, and compliant payment journey for their customers.
The UAE’s eCommerce market has grown by 33 per cent in five years and is expected to grow another 104 per cent by 2024.
Through Nuvei’s technology, merchants can support the different preferences and requirements of local and overseas consumers.
Merchants will also benefit from Nuvei’s tools, increasing approval rates, as well as reducing the traditional manual and lengthy onboarding process, and associated high payment fees.
Nuvei’s proprietary platform provides seamless pay-in and payout capabilities which connects merchants with their customers in over 200 markets worldwide, and with local acquiring in 45 markets.
Nuvei Corporation (NVEI) Is down 3.79 per cent and is trading at $74.65 per share as of 11:28 a.m. EST.