Nuvei today announced the expansion of the potential of the world money movement, allowing faster and more cost -effective payments to bank accounts worldwide, including emerging markets where traditional infrastructure often causes delays and ineffectiveness.
Utilizing Stablecoin rails to facilitate value movement, Nuvei offers businesses a strong new way to move Fiat funds to borders with faster speed, efficiency and economic efficiency, helping to reduce the dependence on expensive intermediaries who often delay payments.
This feature is based on Nuvei’s integrated world payment solutions, which already includes direct banking, real -time payment networks, ewallets and card networks. Businesses can now fund virtual bank accounts using local rails, bypassing slower and more expensive fast transport.
Once funded, the value is transferred to all borders using blockchain technology, allowing the settlement of the same day or next day. In the beneficiary’s country, local financial institutions are linked to household payment networks to complete the payment directly to the bank accounts of the Fiat coin, even in areas where the traditional bank correspondent is ineffective or unavailable.
“Our mission is to simplify and accelerate the money movement worldwide so that businesses can focus on growth,” said Phil Fayer, president and chief executive of Nuvei. “With this extension, we give our customers the opportunity to move Fiat account to the account, to all borders, faster and more efficiently efficient than ever, using Stablecoin rails behind the scenes, we provide a modern and effective alternative to traditional settlement methods, especially valuable businesses.
Nuvei’s expanded payment capabilities support a wide range of use cases:
- Intra-host transport, such as public funds between global subsidiaries quickly and effectively.
- Third payments in a single party for scenarios such as suppliers or large cross -border invoices.
- Payments of third parties in many places, critical for cases such as global payroll, market sellers, or remnants’ programs necessary for platform -based businesses and Fintechs in emerging markets.
This approach also orchestrates many FX providers to ensure the most competitive exchange rates, leading further savings and transparency for business coins – a challenge facing many companies operating in developing areas.
The new Fiat payment option is integrated smoothly into Nuvei’s existing global platform, which supports more than 200 markets with a local settlement in 150 coins. It complements Nuvei’s extensive payment solutions suite, including banking, real -time payment networks, payment networks and card networks, providing flexibility businesses, must even reach the recipients even to rural, degraded or high -cost.