back Back

Nuvei enhances APAC’s traders’ payments experience with Mastercard Send

By Gloria Mathias

August 30, 2023

  • Account Verification Fraud
  • APAC
  • APAC Expansion

CloudPay, Nuvei, Payments, Montreal, Employee payments, Transactions, Partnership, London, UK, Mastercard Send, APAC,Canadian Fintech company Nuvei and Mastercard have 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.

With this new service, online traders will enjoy a simpler and more convenient method of cashing out their investments, backed by Mastercard’s smart fraud protection. Users only need to input their card details and make a request via Mastercard Send, whenever they wish to cash out. 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 payment 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.”

Previous Article

August 30, 2023

Azentio appoints Sanjay Singh as the new ‘Chief Executive Officer’

Read More
Next Article

August 30, 2023

State Bank of Vietnam joins ASEAN region payments connectivity initiative

Read More

IBSi Daily News Analysis

Data privacy

July 16, 2024

Account Verification Fraud

Rise in sophisticated attacks, state-level threats, and increased ransom DDoS Incidents

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News


Wakanow selects Outpayce B2B Wallet for virtual payments

Read More


MyZoi launches inclusive digital wallet for the underbanked

Read More

July 18, 2024

Worldline & Antenor enable contactless payments at Selfly Store vending machines

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2024