Nuvei for Platforms adds new functionality

Core Insights - Nuvei Corporation has launched new features for its Nuvei for Platforms product, aimed at enhancing growth opportunities for businesses of various sizes [1][4] - The Embedded Payments market is projected to grow from approximately USD $83 billion in 2023 to an estimated $730 billion by 2032, with a compound annual growth rate exceeding 30% [4] Product Features and Enhancements - Nuvei for Platforms allows businesses to customize a comprehensive suite of payment technologies through a single integration, including merchant onboarding, pay-ins and payouts, fraud prevention, and risk management [2][3] - New features include decoupled pay-ins and payouts for better cash flow management, support for over 700 local and alternative payment methods, and enhanced seller invoicing options [3][4] - The split payments feature ensures compliance with PSD2 by automatically dividing transactions into platform commissions and seller fees, simplifying regulatory compliance [3][5] - Auto reconciliation capabilities consolidate multiple payment flows into a single payout, streamlining accounting processes [3] Market Trends - The marketplace payments sector is rapidly growing, driven by increased eCommerce adoption, with estimates indicating that marketplaces account for 40-60% of all online consumer payments [5] - The Gross Merchandise Value for the top 100 global marketplaces is projected to reach approximately $3.8 trillion in 2024, highlighting the significance of marketplaces in the online economy [5] Strategic Developments - Nuvei has recently acquired Payaut, a marketplace technology provider, to enhance its expertise and commitment to innovation in the payments sector [6][7] - The company operates in over 200 markets, offering local acquiring in 50 markets and supporting 150 currencies and 716 alternative payment methods [7]