Nuvei Secures License for Local Payment Processing in South Africa

Nuvei, a global fintech company, announced it has received authorization from the Payments Association of South Africa (PASA) to provide local merchant payment services in South Africa. This expansion allows Nuvei to support global brands and local businesses through its unified payment platform.

The authorization supports Nuvei's "Every Payment Everywhere" strategy by enhancing its presence within domestic payment ecosystems. By adding South Africa to its network, Nuvei extends its local acquiring and payment acceptance infrastructure, transaction data, and operational controls to another key market, accessible via a single global platform.

"Commerce is global, but payment processing is local," said Phil Fayer, Nuvei's Chairman and CEO. "Our expansion into South Africa is another step towards delivering locally optimized payment capabilities for businesses on a global scale. South Africa is one of the most important digital commerce markets in Africa, and strengthening our presence here creates new opportunities."

The South African B2C e-commerce market is projected to see continued growth. Nuvei's local processing capabilities can improve transaction authorization rates and reduce costs for international companies entering the region, while offering a more tailored checkout experience for consumers.