Nuvei is commencing its E-commerce business in the 12th largest economy to thrive globally.
On Sunday, Nuvei, the Canadian FinTech Company announced it will enter the 12th global economy leader, Australia, to accelerate its growth. The company is planning to initiate its business operations in Australia, to access its full suite of market-leading payment solutions including acquiring, processing, establishing alternative payment methods, and risk management.
Nuvei is definitely going to get an advantage after entering the market as Australia’s operations at the local and global levels can make the company look a level up. Nuvei’s benefits would be cutting-edge and agile technology. The payment platforms will help in optimizing operating costs and boosting conversion rates by maximizing payment acceptance, minimizing risk, and enhancing the consumer payment experience.
Nuvei has entered the Australian market so that it can grow its presence and capabilities in the Asia-Pacific (APAC) region. Nuvei’s Chairperson and CEO, Philip Fayer, commented on the announcement: “Our mission is to help our customers connect with their customers regardless of location, payment method, or currency. Launching in Australia is a natural step for our continued expansion in APAC, having already established a strong and growing presence in the region.”
Nuvei is launching in Australia with a secured regulatory and scheme license to support customers with local acquisition in the country.
Fayer continued: “We know the role local acquiring plays in payments optimization, which is why Nuvei’s local acquiring network across the globe is unparalleled. Being able to support merchants in Hong Kong, Singapore, and now Australia with local acquiring solutions demonstrates our commitment to our customers’ growth.”
Australia is a significant market for eCommerce in APAC and globally. It is the world’s 12th largest economy and had an eCommerce market value of $47bn (with 8.9% growth) in 2022. Internet penetration in Australia is 91% and over 90% of Australian internet users make online purchases.
- Published By Team Australia News
