Canadian fintech company Nuvei (NASDAQ:NVEI) and Plaid extend their existing global partnership to support a wider range of businesses with accepting bank-based payments for multiple use cases, including recurring payments and payouts, and to serve additional verticals within the eCommerce landscape, such as utilities and B2B.
Nuvei and Plaid intend to scale their partnership globally before the end of the year.
Nuvei’s global reach, including local acquisitions in 47 markets, is combined with the Plaid network, which covers 12,000 financial institutions.
“Plaid and Nuvei have a proven track record of helping companies streamline account funding experiences through bank transfers. We are excited to extend our partnership with Nuvei to bring safe, secure and seamless bank-based experiences to more companies and industries within the eCommerce realm.” said John Anderson, Head of Payments at Plaid.
NVEI stock price drops 1.6% during pre-market.