Nuvei Obtains License for Local Payment Acceptance in South Africa
Fintech company Nuvei has received authorization from the Payments Association of South Africa (PASA) to offer local payment services. This expands Nuvei's global infrastructure to one of Africa's key digital commerce markets.
Nuvei, a global fintech company, has secured authorization from the Payments Association of South Africa (PASA) to provide local payment acceptance services for merchants. This move expands Nuvei's capacity to support global brands and local businesses within South Africa's digital commerce landscape.
The authorization aligns with Nuvei's 'Every Payment Everywhere' strategy, aiming to enhance payment performance across markets through localized infrastructure. The company will now offer its unified global platform for local acquiring, payment acceptance, transaction data management, and operational controls in South Africa.
"Commerce is global, but payment performance is local," stated Nuvei CEO Phil Fayer. "Our expansion into South Africa is a further step in providing businesses with access to locally optimized payment capabilities at a global scale."
South Africa's e-commerce market is projected for significant growth, underscoring the need for locally optimized payment solutions. Nuvei's new license enables international companies to enter the market via a single integration, while also offering enhanced payment management, fraud prevention, and reporting for businesses already operating in the region.