Welcome to our dedicated page for Nuvei news (Ticker: NVEI), a resource for investors and traders seeking the latest updates and insights on Nuvei stock.
Nuvei provides global payments infrastructure for merchants that need digital and in-person acceptance, payout options, card issuing, banking, risk management, and fraud management through a modular platform. Company news commonly covers merchant and technology partnerships, including virtual card payments for travel suppliers, enterprise omnichannel commerce, subscription payments, and European online retail expansion.
Updates also address Nuvei's payment-network capabilities, such as clearing and settlement infrastructure, authorization optimization, PINless debit, least-cost routing, tokenized checkout, and alternative payment method connectivity. Regulatory and product news includes its EU MiCAR Crypto-Asset Service Provider license, which supports regulated crypto-asset services within its broader payments and settlement infrastructure.
Nuvei Corporation (NVEI) reported its Q2 2022 results, showing a 44% increase in total volume at constant currency, totaling $31.4 billion. Revenue rose 19% to $211.3 million, impacted by adverse currency fluctuations and volume mix changes. Adjusted EBITDA grew 17% to $92.9 million. However, net income saw a decline to $35.1 million due to increased share-based payments. The company amended its 2022 outlook, citing currency volatility and economic conditions, while maintaining long-term revenue targets of $1 billion. Cash flow from operations increased to $91.5 million.
Nuvei Corporation (Nasdaq: NVEI) announced the appointment of two new independent directors, Maren Lau and Tim Dent, expanding its Board to eight members. Lau brings expertise from Meta Platforms as Regional Vice President for Latin America, while Dent has over 20 years in online gaming, notably as Chief Financial Officer at DraftKings. The Board aims to achieve 30% female representation by the end of 2023. CEO Philip Fayer expressed confidence in their leadership and its relevance to Nuvei's growth in various industry verticals and geographies.
Nuvei Corporation (Nasdaq: NVEI) has been selected by Selina as its primary payment provider for card acquiring services across Europe and beyond. This collaboration aims to enhance payment experiences for Millennial and Gen Z travelers, who are projected to spend $350 billion annually on travel. Nuvei's services will expand to the US, Latin America, and Australia, with plans for additional payment methods in 2022. Selina, already a significant player in the hospitality sector, focuses on creating immersive experiences and adapting to the needs of remote workers.
Nuvei Corporation (Nasdaq: NVEI) announced it will release its Q2 2022 financial results before market opening on August 9, 2022. A conference call and webcast will follow at 8:30 am ET, hosted by Philip Fayer, Chair and CEO, and David Schwartz, CFO. The call will be accessible through the investor relations website and by phone. A replay will be available for a limited time after the call.
Nuvei is a global payment platform that supports businesses in accepting various payment methods across 200 markets, enhancing transaction efficiency.
Nuvei Corporation (Nasdaq: NVEI, TSX: NVEI) has expanded its partnership with Eyas Gaming to offer a comprehensive payment solution across its UK iGaming brands. This collaboration, initiated in October 2021, now enables Eyas to integrate carrier billing and various payment methods through Nuvei's advanced cashier technology. Eyas Gaming's Head of Fraud, Risk and Payments expressed excitement about the partnership, highlighting Nuvei’s industry expertise. The announcement underscores Nuvei's commitment to becoming the preferred payment technology provider in the iGaming sector.
Nuvei Corporation (Nasdaq: NVEI) announces a partnership with Multi Wholesale Supplies, a leading B2B medical retailer, to enhance global card processing and fraud management. This collaboration aims to boost B2B conversion rates by transitioning merchants from invoice billing to real-time payments. Leveraging over 550 alternative payment methods across 46 markets, Multi Wholesale Supplies will streamline payments for medical professionals. Nuvei's CEO Phil Fayer highlights the company's commitment to innovation and superior service in the evolving European B2B payments landscape.
Nuvei Corporation (Nasdaq: NVEI) expands its partnership with GoldBet, enhancing payment options for players in Italy.
This update allows GoldBet users to deposit and withdraw using Apple Pay, positioning GoldBet as one of the first Italian operators to offer this feature. Since teaming up with Nuvei in 2020, GoldBet has reported significant revenue growth, driven by improved player experiences and frictionless transactions. Nuvei emphasizes its commitment to tailored payment solutions that support business growth across global markets.
Nuvei Corporation (Nasdaq: NVEI) announces a new collaboration with international clothing retailer Hatley to enhance their payment offerings. The partnership covers in-store card payments across over 40 retail locations in North America, as well as B2B and eCommerce payment processing in the US, Canada, and Europe. Hatley's CEO asserts this collaboration supports their growth in the retail market, aiming for a seamless omnichannel payment experience. Nuvei aims to empower Hatley with advanced payment solutions to facilitate its expansion.
Nuvei Corporation (Nasdaq: NVEI) and GAN Limited announce a strategic partnership that enables gaming operators to access Nuvei’s payment solutions through GAN’s software platform. This collaboration follows the regulated gaming market launch in Ontario and aims to expand support across the U.S. and Canada. Players can now benefit from instant deposits and payouts via multiple payment methods. Both companies highlight their commitment to providing best-in-class solutions for the gaming industry, positioning themselves for significant growth.
Nuvei Corporation (Nasdaq: NVEI) partners with WeCook, a ready-to-eat meal delivery service, to enhance its payment processing capabilities across Canada. WeCook is experiencing rapid growth, having delivered over 4 million meals and secured CAD$40 million in strategic investments. The partnership will leverage Nuvei's advanced payment technology to streamline B2B and B2C transactions, facilitating WeCook's goal of expanding nationally by 2023. This collaboration aims to boost customer retention and increase conversion rates through innovative payment solutions.