Payment expert Nuvei accelerates payouts with Mastercard Send

By Pavithra R

Mastercard has announced expanding partnership with Nuvei, under which Mastercard Send will be integrated into Nuvei’s payment technology platform through its wholly-owned subsidiary. The move strengthens the relationship between the two parties and provides a powerful new tool to Nuvei clients.

Mastercard Send is a global push payments platform that enhances payout capabilities for businesses by speeding up the process without compromising on security. Nuvei clients can leverage the service to benefit businesses in industries ranging from insurance to ride-sharing.

The collaboration combines speedy disbursement of funds with the trustworthiness and reputation of a legacy brand, providing a new avenue by which businesses can safely supply their customers both domestically and internationally.

“We are very pleased to broaden our partnership with Nuvei and to provide fast and secure payouts to their clients. We are certain that both merchants and their customers will greatly benefit from our service especially in this increasingly digital economy,” said Aspa Palimeri, Country Manager for Greece, Cyprus and Malta.

For Nuvei, Mastercard Send is a valuable addition to the comprehensive global payment solutions with the added value of the consumer confidence imparted by the Mastercard brand and its infrastructure. Additionally, transaction data pertaining to the service is available via customizable reports through Nuvei’s proprietary merchant dashboard.

Mastercard Send use cases include payroll payments, social benefits, tax refunds, marketplace payouts, insurance claims and gaming payouts as well as refunds. Reconciliation is automatic because the payment and invoice will always match, further saving time and accountancy costs.

“We’re thrilled to deepen our strong relationship with Mastercard by adding Mastercard Send to our global platform, providing our clients with another powerful choice for fund disbursement. In our quest to provide seamless payment journeys worldwide, Mastercard Send will help our clients transmit funds without lengthy waits, while maintaining security and compliance,” said Philip Fayer, Nuvei’s chairman and CEO.

The service is now available to Nuvei clients via their existing integration, with no additional development.