Nuvei integrates Mastercard Send for instant payouts within FX industry
“In an unpredictable trading environment where price fluctuations happen in seconds, Mastercard Send provides online traders with the peace of mind that they can cash-out instantly, at the click of a button.”
In a significant move to streamline financial transactions in the Asia Pacific region, Canadian fintech company Nuvei and global payments technology leader Mastercard have unveiled plans to provide near-instantaneous payout capabilities to online trading platforms and investors.
This partnership leverages Mastercard’s Send service, offering seamless and rapid payments for a diverse range of entities across the globe and currently accessible to Nuvei customers in Singapore. The Mastercard Send service enables swift payments for merchants, acquirers, governments, and consumers worldwide.
Rapid cashouts in partnership with Mastercard’s Send
The surge in remote work and the proliferation of online trading, particularly among younger investors, has created a demand for seamless and immediate payment solutions. Mastercard’s Send service aligns well with the need for swift transactions and user convenience, allowing traders to cash out their investments quickly and efficiently.
Starting later this year, the service will also extend to Australia and Hong Kong SAR. The expansion showcases the potential of this partnership to influence the broader financial ecosystem across the region.
This collaboration underscores the larger trend in the financial industry towards providing innovative payment solutions that cater to the preferences of a tech-savvy and digitally engaged user base. As transactions become more instantaneous and efficient, the traditional barriers associated with financial operations are gradually breaking down, fostering a new era of financial convenience and accessibility.
In conclusion, the partnership between Nuvei and Mastercard represents a strategic response to the changing landscape of financial transactions, particularly in the online trading sector. This collaboration not only enhances user experience but also positions both companies at the forefront of a rapidly evolving industry, where speed, security, and efficiency are paramount.
Instant payout method to win new traders
Philip Fayer, Chair and CEO of Nuvei, highlighted the significance of this partnership: “Trading platforms rely on fast, secure deposits and payouts to optimize user experience. Partnering with Mastercard Send enables us to offer our partners another trusted, instant payout method that will win new traders and generate revenue growth.”
Sandeep Malhotra, Executive Vice President of Products & Innovation, Asia Pacific at Mastercard, emphasized the value of faster payments in today’s digital age: “Given the boom in online trading in the Asia Pacific region, Mastercard Send presents Nuvei’s customers with the opportunity to improve the payments experience for their users while standing to grow their own revenues – a win-win.”
Alon Cohen Naznin, COO of Plus500, underscored the advantage of instant cash-outs for online traders: “In an unpredictable trading environment where price fluctuations happen in seconds, Mastercard Send provides online traders with the peace of mind that they can cash-out instantly, at the click of a button.”
As online trading gains traction in the Asia Pacific region, this collaboration sets the stage for a more efficient and user-friendly payment ecosystem. The integration of Mastercard Send not only facilitates smoother transactions but also aligns with the growing expectations of speed, choice, and security in digital payments.