Nuvei Partners Mastercard to Offer Instant Payouts for APAC’s Online Investorsby Fintech News Singapore August 28, 2023
Canadian fintech company Nuvei and payment giant Mastercard have partnered to offer near-instant payout capabilities for online trading platforms and investors in the Asia Pacific region via Mastercard Send.
Nuvei customers will then be able to process payouts, including business to consumer disbursements, and funding transactions between over 1.5 billion debit, credit, and prepaid Mastercard cards.
When customers want to cash out, they will only need to input their card details and make a request via Mastercard Send. This option is available on the platform’s cashier and funds are immediately accessible.
Already available to Nuvei’s customers in Singapore, the Send service will also be available in Australia and Hong Kong starting later this year.
One business in Singapore that is already utilising Mastercard Send to offer an enhanced payout experience to its customers is trading platform Plus500.
“Trading platforms rely on fast, secure deposits and payouts to optimise 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,”
said Philip Fayer, Nuvei’s Chair and CEO.
“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.”
said Sandeep Malhotra, Executive Vice President, Products & Innovation, Asia Pacific, Mastercard.