Nuvei receives South African authorisation
70 pts · High·Finextra Payments·1w ago · Oct 14, 20:54 UTC·1 min read
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Nuvei has announced that 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 both global brands and local businesses through its global payments platform, further strengthening its foothold in the global payments landscape.
Key takeaways
- ▸Nuvei is now authorized to offer payment services to merchants in South Africa.
- ▸This authorization will enable Nuvei to cater to both global and local businesses.
- ▸The expansion into South Africa reflects Nuvei's strategy to enhance its global payments infrastructure.
Why this matters
This authorization positions Nuvei to capture a share of the growing South African payments market, which is critical for its strategy to expand its global presence. By facilitating local payment solutions, Nuvei could enhance its competitive edge against local and international players already operating in the region, ultimately benefiting merchants with more diverse payment options.
Entities
Companies: Nuvei
Regulators: Payments Association of South Africa