Nuvei, a Canadian fintech company, and Mastercard have partnered to provide near-instantaneous payout capabilities for online trading platforms and investors in the Asia Pacific region through Mastercard Send™. This service is currently available to Nuvei customers in Singapore and will also be launched in Australia and Hong Kong SAR later this year. It will enable Nuvei customers to process payouts, including business to consumer disbursements, and funding transactions between over 1.5 billion debit, credit, and prepaid Mastercard cards.
The Asia Pacific region has witnessed a surge in online retail investors, especially among younger, first-time users of online trading platforms, driven in part by the growth of remote work due to the COVID-19 pandemic. The global online trading platform market is expected to grow significantly, and Asia Pacific is one of the fastest-growing regions in this industry.
One of the businesses in Singapore already using Mastercard Send™ to enhance its payout experience is the trading platform Plus500. With this service, online traders can easily cash out their investments, and the funds are immediately accessible, with the added benefit of Mastercard’s fraud protection.
Faster and secure payouts are essential for online trading platforms to optimize user experience, and Mastercard Send™ offers a trusted and instant payout method to facilitate this. This partnership aims to enhance the payments experience for users and drive revenue growth for Nuvei.
Mastercard Send™ allows online traders to cash out instantly, ensuring they have quick access to their funds in a fast-paced trading environment. This convenience can help traders make rapid decisions and monitor the real-time availability of their funds.
Nuvei is a fintech company that offers modular, flexible, and scalable technology to businesses worldwide, enabling them to accept various payment methods and benefit from additional financial services. They operate in over 200 markets, providing local acquiring in 47+ markets, supporting 150 currencies, and offering 634 alternative payment methods.
Mastercard is a global technology company in the payments industry, working to create an inclusive, digital economy that is safe, simple, smart, and accessible. They operate in over 210 countries and territories and provide solutions for individuals, financial institutions, governments, and businesses. Their mission is to unlock priceless possibilities for all by connecting people and businesses worldwide.