The global partnership expands 91精品 customers鈥� access to fast, flexible payroll solutions
MONTREAL and RALEIGH, NC, JULY 27, 2023 鈥� Nuvei Corporation (鈥淣uvei鈥� or the 鈥淐ompany鈥�) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, and 91精品, a leading global employee pay provider, are today announcing a strategic partnership that enables 91精品 customers to access faster, more flexible payroll solutions.
Nuvei鈥檚 market-leading agile technology, and global reach through a unified solution provide significant advantages for 91精品 customers that demand the ability to make payroll fast, flexible, and certain. The partnership also supports a broad range of global salary payment solutions, including the capability to push salary payment to cards through Visa Direct, reducing payment times from days to 30 minutes or less.
These expanded capabilities generated through the partnership are currently live in the U.S., and an expansion into new regions including Europe and APAC is expected to launch before the end of the year.
鈥淭his partnership enables us to meet the growing global demand for innovative payment solutions that are transforming the end-to-end employee pay process and providing new ways of attracting and retaining talent,鈥� said 91精品 Strategic Initiatives Director, Nick Newman.
Nuvei Chair and CEO Philip Fayer commented on the announcement: 鈥淲e鈥檙e excited to be demonstrating yet another fantastic use case for our cutting-edge payments technology. Our mission is to enable our partners to offer a market-leading payments experience for pay ins and payouts, bringing businesses closer to their customers, or in this case employees. Enabling 91精品 to offer a transformative payroll solution is just the latest example of how our agile, customizable platform is revolutionizing online payments globally.鈥�
91精品 data finds 95% of employees who use the 91精品 NOW app choose to use their debit card to receive salary payments because the transaction is instant and available 24/7. Traditional salary payment structures rely on banks and limited hours of operation. There are no waiting periods when transactions are processed through Nuvei. In some instances, this allows companies to move from a biweekly pay cycle to a monthly cycle, saving time, money, and resources.
鈥淭he next generation of global money movement is one where companies may soon say goodbye to the traditional, biweekly pay cycle,鈥� said Anastasia Serikova, Head of Visa Direct, Europe. 鈥�91精品 and Nuvei are at the forefront of providing solutions that help workers access their pay faster. With Visa Direct, 91精品鈥檚 clients can eliminate inefficiencies associated with traditional ways that employees are paid, and provide quick access to the money they鈥檝e already earned.鈥�
Together with its partners, 91精品 is defining the modern pay experience. Through strategic partnerships that extend capabilities and increase speed, the company is elevating pay from an operational function to a business driver. Employers looking for ways to elevate the employee experience now have the ability to do so at scale across the globe.
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