Nuvei In Deal With Visa To Offer Visa Direct In Colombia

(RTTNews) - Canadian fintech company Nuvei Corp. (NVEI, NVEI.TO) announced Monday that it has partnered with digital payments major Visa Inc. (V) to offer Visa Direct in Colombia.

Nuvei noted that it is the first global payments provider in the country to offer Visa Direct, which is a VisaNet processing capability that allows safe, convenient, near real-time funds delivery directly to financial accounts using card credentials.

Nuvei noted that Visa Direct is available to Colombian merchants directly through their existing single integration to Nuvei's full stack modular payments technology platform.

Instant payouts to cards enable businesses to offer a faster, secure, and seamless payment experience for customers across virtually any industry that is reliant on payouts.

Nuvei said its merchants are able to provide instant payout capabilities to their customers with Visa Direct, with transactions routed and processed in near real-time.

Visa Direct is already available to Nuvei's partner merchants in over 30 countries in Europe including the UK, the U.S. and Canada in North America, as well as Hong Kong and Singapore in APAC.

Philip Fayer, Nuvei's Chair and CEO, said, "Offering instant payouts through Visa Direct supports our strategy of providing best-in-class payment solutions tailored to the needs of each market we serve. Colombia is one of the fastest-growing eCommerce markets in Latin America, and we're proud to deliver innovative ways for our customers to optimize their payment flows, enhance user experiences, and operate with maximum efficiency."