- Nuvei (TSX:NVEI) will provide Microsoft (NDAQ:MSFT) with payments solutions for customers across numerous key markets
- The companies’ collaboration will initially focus on Africa and the Middle East, with other markets and use-cases to be explored
- Nuvei provides payments technology in more than 200 markets around the world
- Nuvei stock (TSX:NVEI) is down by 24.72 per cent year-over year and by 38.11 per cent since 2018
Nuvei (TSX:NVEI) will provide Microsoft (NDAQ:MSFT) with payments solutions for customers across numerous key markets.
Microsoft will begin by onboarding Nuvei’s payments technology in the Middle East and Africa, with special focus on enhancing recurring billing and individual transactions across Office and Xbox products. Nuvei’s advantages in this regard include optimized authorization rates by way of local subsidiaries, as well as the availability of relevant local alternative payment methods through a single interface.
Nuvei and Microsoft intend to expand their partnership across additional markets and use-cases. A central market to be explored is that of Microsoft Dynamics 365, the blue-chip stock‘s business applications technology suite to drive operational efficiency and improve enterprise resource management.
“Enabling Microsoft to connect to its customers across a wide range of products is testament to our technology and dedication to world-class customer service,” Philip Fayer, Nuvei’s chairman and chief executive officer, said in a statement. “We’re excited to optimize payments for such a universal brand that is trusted and relied upon by so many people.”
“We’re pleased to extend our payment solutions to the Middle East and African region,” added Ajith Thekadath, vice president global payments at Microsoft. “Whether it is a one-off purchase, software subscription, or in-game purchasing, payments are critical to our overall customer experience. Partnering with Nuvei enables our customers to pay wherever they are and whenever they want to.”
The news follows the release of Nuvei’s Q3 2023 financial results, which saw the company post its second unprofitable quarter over the past five because of revolving credit facility financing and unfavorable foreign currency fluctuations.
Nuvei provides payments technology in more than 200 markets around the world.
Nuvei stock (TSX:NVEI) last traded at C$28.56 per share. The stock is down by 24.72 per cent year-over year and by 38.11 per cent since 2018 offering investors ample evidence for undervaluation.
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