Canadian fintech company Nuvei Corp. (NVEI, NVEI.TO) revealed on Monday its collaboration with leading digital payments provider Visa Inc. (V) to bring Visa Direct to Colombia.
Nuvei highlighted that it is the first global payments provider in the region to introduce Visa Direct, a VisaNet processing capability that ensures safe, convenient, near-real-time funds delivery directly to financial accounts using card credentials.
The company stated that Visa Direct is now accessible to Colombian merchants through their existing single integration with Nuvei's comprehensive modular payments technology platform. This technology allows businesses to offer rapid, secure, and seamless payment experiences across various industries that depend on timely payouts.
With Visa Direct, Nuvei's merchants can now provide instant payout capabilities, ensuring that transactions are routed and processed in near-real-time.
Visa Direct is already available to Nuvei's partner merchants in more than 30 countries, including the UK, the U.S., and Canada in North America, as well as Hong Kong and Singapore in the APAC region.
Philip Fayer, Nuvei's Chair and CEO, remarked, "Offering instant payouts through Visa Direct aligns with our strategy of delivering top-tier payment solutions tailored to the unique needs of each market we serve. Colombia is one of the fastest-growing eCommerce markets in Latin America, and we're excited to introduce innovative ways for our customers to optimize payment flows, enhance user experiences, and operate with peak efficiency."
