Nuvei has announced a new partnership with Mastercard that will enable near instantaneous payout capabilities for online trading platforms and investors in the Asia Pacific region.
The Canadian FinTech revealed that via the Mastercard Send service, customers across the region will now be able to utilise an instant pay-out capability, and take advantage of the global technology company’s vast experience in the payments industry.
Already available to Nuvei customers in Singapore, the Send service – which powers rapid payments for merchants, acquirers, governments, consumers and more – will also be available in Australia and Hong Kong SAR, starting later this year.
Nuvei Chair and CEO Philip Fayer, said: “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.”
One business in Singapore that is already utilizing Mastercard Send to offer an enhanced payout experience to its customers is trading platform Plus500.
With this new service, online traders will enjoy a simpler and more convenient method of cashing out their investments, backed by Mastercard’s best-in-class fraud protection.
Whenever they wish to cash out, users only need to input their card details and make a request via Mastercard Send. This option is easily located in the platform cashier, and funds are immediately accessible.
Alon Cohen Naznin, COO, Plus500, said: “In an unpredictable trading environment where price fluctuations happen in seconds, Mastercard Send provides online traders with the peace of mind that that they can cash-out instantly, at the click of a button. With easy, fuss-free access to their money, investors can make quick decisions and enjoy full visibility over the real-time availability of their funds.”
The service is set to allow Nuvei customers to process payouts, including business to consumer disbursements, and funding transactions between over 1.5 billion debit, credit, and prepaid Mastercard cards.
Sandeep Malhotra, Executive Vice President, products & innovation, Asia Pacific, Mastercard, said: “In today’s always-on world, faster payments are the foundation for accelerated growth.
“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.
“Meeting consumers’ expectations for greater speed, wider choice, and tighter security in their payments is no longer negotiable.”
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