Human beings do have the means to achieve anything they can think of, and yet they still don’t do anything better than growing on a consistent basis. This progressive approach instilled so deep into our fabric has already got the world to hit upon some huge milestones, with technology appearing as a major member of the group. The reason why technology enjoys such an esteemed stature among people is, by and large, predicated upon its skill-set, which ushered us towards a reality that nobody could have ever imagined otherwise. Nevertheless, if we look up close for a second, it will become clear how the whole runner was also very much inspired from the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. Of course, this revolution then went on to scale up the human experience through some outright unique avenues, but even after achieving such a monumental feat, technology will somehow continue to produce the right goods. The same has grown increasingly evident over the recent past, and assuming one new fintech-themed development shakes out just like we envision, it will only make that trend bigger and better moving forward.

Nuvei Corporation, a fintech company accelerating the business of clients around the world, has officially announced the launch of a new card issuing solution, making the product available across 30 global markets. According to certain reports, the stated solution brings to the fore revenue accelerating benefits to customers through services like funding, on-us processing, interchange optimization, and instant transaction reporting. Talk about the whole solution on a slightly granular level, it conceives for us use cases, such as virtual cards that B2B customers can rely on to pay their suppliers on time. Not just that, there is also a physical card available to help entities operating across areas like full-blown Marketplaces, Insurance, iGaming, Gig economy, and more, fulfill their payment obligations. Moving on, there is a prospect of Wallet-as-a-service where Nuvei will manage the entire end-to-end process and distribution for customers so to facilitate objectives such as running customized loyalty programs. Having covered some of the main features, we now must get into what kind of impact they can be expected them to have from a specific, and also overall standpoint. For starters, there is a promise of greater capital efficiency, as Nuvei virtual cards make it possible for businesses to instantly access and utilize funds collected from their customers. You see, once the customer’s transactions have been captured, virtual cards can be issued and used by the merchant, without any semblance of a delay, to pay suppliers, employees, or other parties. Interestingly enough, Nuvei’s latest brainchild also ensures significantly enhanced substitution rates. This means when merchant branded cards are used for purchases and Nuvei is both the issuer and acquirer, transaction approval rates can increase to an important degree. Such an increase should benefit an area like, let’s say, the retail sector, where merchants can issue their customers refunds on a virtual or physical card, and those customers can use their funds in the same store. Almost like a result of the previous feature, the new card issuing solution can effectively bolster your customer loyalty. We say what we did also because the issued cards can be white labeled to the merchant’s brand. Like you can guess, by availing this piece of the value proposition, businesses can greatly increase customer awareness and affinity in the context of their identity. Another detail worth a mention here pertains to the solution’s speed, a detail which reveals itself when you look at the fact that Nuvei’s solution help businesses big time in pushing out funds at speed, and at the same time, bear lower cost than those traditional payouts to existing cards or bank accounts. Furthermore, considering these virtual cards come decked up with widespread acceptability, they can be used to make payments to parts of the population that don’t have the neccesary banking exposure.

“We’re thrilled to launch card issuing as an additional module to our full stack technology platform. This solution has practical applications for our clients, benefiting their customers by improving their own working capital and simplifying their back-office processing. The launch of our card issuing solution is another example of our dedication to finding new ways to accelerate the business of our clients across the different verticals we operate in, all while growing our own total addressable market,” said Philip Fayer, chair and CEO of Nuvei Corporation.

Founded back in 2003, Nuvei’s rise to prominence stems from an ability to offer modular, flexible and scalable payments technology at scale. This technology, in turn, enables companies to accept next-gen payments, and offer all payout options, while simultaneously accessing the business opportunities generated from card issuing, banking, risk, and fraud management services. The company’s excellence in what it does can be further understood, if you acknowledge that it is currently present in more than 200 markets, covering local acquiring in over 47 markets. It also offers you the chance to transact across 150 different currencies and 669 alternative payment methods.