Nuvei offers APAC’s online traders instant cash-outs via Mastercard Send™

August 28, 2023 | SINGAPORE & MONTREAL
Mastercard Send enables secure, real-time1 fund transfers for organizations of all sorts in 100+ markets

Canadian fintech company Nuvei (Nasdaq: NVEI) (TSX: NVEI) and Mastercard today announced that they will enable near instantaneous payout capabilities for online trading platforms and investors in the Asia Pacific region via Mastercard Send™. Already available to Nuvei customers in Singapore, the Send™ service – which powers rapid payments for merchants, acquirers, governments, consumers and more, wherever they interact worldwide – will also be available in Australia and Hong Kong SAR, starting later this year. Nuvei customers will then be able to process payouts, including business to consumer disbursements, and funding transactions between over 1.5 billion debit, credit, and prepaid Mastercard cards.

In the Asia Pacific region, the increasing prevalence of remote working, triggered by the pandemic, has encouraged the parallel growth in the number of new online retail investors, especially younger, first-time users of online trading platforms. According to a recent report by Fortune Business Insights, the global online trading platform market is projected to grow from USD9.94 billion in 2023 to USD15.34 billion by 2030. This trend is driven in part by technological advancements and the integration of trading platforms on smartphones, with Asia Pacific being one of the fastest-growing regions. 

One business in Singapore that is already utilizing Mastercard Send™ to offer an enhanced payout experience to its customers is trading platform Plus500. With this new service, online traders will enjoy a simpler and more convenient method of cashing out their investments, backed by Mastercard’s best-in-class fraud protection. Whenever they wish to cash out, users only need to input their card details and make a request via Mastercard Send™. This option is easily located in the platform cashier, and funds are immediately accessible.

“Trading platforms rely on fast, secure deposits and payouts to optimize user experience. Partnering with Mastercard Send™ enables us to offer our partners another trusted, instant payout method that will win new traders and generate revenue growth,” said Nuvei Chair and CEO Philip Fayer.

“In today’s always-on world, faster payments are the foundation for accelerated growth,” said Sandeep Malhotra, executive vice president, Products & Innovation, Asia Pacific, Mastercard. “Given the boom in online trading in the Asia Pacific region, Mastercard Send™ presents Nuvei’s customers with the opportunity to improve the payments experience for their users while standing to grow their own revenues – a win-win. Meeting consumers’ expectations for greater speed, wider choice, and tighter security in their payments is no longer negotiable.”

“In an unpredictable trading environment where price fluctuations happen in seconds, Mastercard Send™ provides online traders with the peace of mind that they can cash-out instantly, at the click of a button. With easy, fuss-free access to their money, investors can make quick decisions and enjoy full visibility over the real-time availability of their funds,” said Alon Cohen Naznin, coo, Plus500.

Learn more about Mastercard Send™: https://b2b.mastercard.com/mastercard-send/

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1 Actual posting times for approved transactions will depend on the receiving financial institution.

Media Contacts

Public relations, Nuvei

alex.hammond@nuvei.com

Media Contacts

Investor relations, Nuvei

IR@nuvei.com

Media Contacts

Sarah Guldin, Mastercard

+65 6390 6199 | Sarah.Guldin@mastercard.com

Media Contacts

Louisa Lau, Golin

+852 6644 9615 | LLau@golin.com

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 47+ markets, 150 currencies and more than 634 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.

About Mastercard

Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.

www.mastercard.com