Neil Erlik, Nuvei: Technology that turns the world into a local market

“Our goal is to turn the world into a local market by connecting our partners with their customers, ensuring the highest level of payment acceptance both at the entrance and at the exit. wherever they are. "

This was the title of the post from this exclusive GamblingTV interview from Neil Erlik who is the new director of corporate development at Nuvei Is a global payment solutions provider that completed the largest-ever IPO TSX last September.

To highlight the company's global presence, Erlik confirmed: “We operate in over 200 markets around the world. We have over 455 different Alternative Payment Methods (APM) in 150 currencies, all through a single platform. ”

Referring to the recent period of change in the digital payments space, influenced by both the pandemic and advances in technology, he added: “Things are changing a lot. fast, but we can handle all the hard work on behalf of our partners, so they don't have to worry about what is changing or how fast it is changing. We relieve this stress from them. "

One such change was the increased demand for cryptocurrencies, prompting Nuvei to add 40 cryptocurrencies to the APM mix. “If you told me five years ago that we would be offering 40 cryptocurrencies to thousands of merchants around the world, I would look at you like 'you were crazy,'” Erlik admitted.

Over the course of the session, he returned several times to have 455 APMs available on the Nuvei platform, serving the widest range of customers. You might instinctively think that this is a surplus of payment methods, but Erlik offered this excuse.

“When you think of all the countries in the world in which we operate, everyone has different needs,” he said. “Therefore, we always remember - how to get our partner the largest number of approved transactions? And how can we ensure that the customer who comes to their site has all the tools to do what they want in a fast yet secure environment. This will vary from country to country and from market to market.

“If you have a customer from Brazil, Mexico or Colombia versus another customer in Germany, we are not going to show the same types of payments. Thanks to our technology and experience, we can see which one will have the highest level of acceptance in each market and offer this to the client so that he has the best user experience. "

The ability to customize from partner to partner is a key message for Nuvei, offering the most appropriate payment types for each country, rather than simply relying on a “turnkey solution” that is then imposed on its customers regardless of market conditions.

Of course, this concept of country shipping goes further into the US, where - in the absence of federal regulation - each state becomes a market in its own right.

Emphasizing the importance of the US market for Nuvei Platform and the need to provide the widest range of payment methods, Erlik said: “Through our single integration - single platform, backend and back office - we have connected all types of deposits available in the US today. You don't need us to connect them all, but if you want, you can. "

During the interview, Erlik also raised the issue of confinement final agreement to acquire Mazooma , a US provider of payment technology for games and sports betting, in a deal for an initial $ 56 million, which could have a maximum total of approximately $ 315 million.

“We think this is a game changer,” he said. “With what they transfer from account to account payments and - thanks to the collaboration with Plaid - their connection to 11,000 financial institutions (FIs) in the US. About a year ago, we had another previous acquisition with Base Commerce that helped us with the capabilities of our Automated Clearing House (ACH).

“So we feel very comfortable moving forward in the US with all the different types of payments. But not only because it is convenient for us, we think that we offer an excellent solution for our sellers and partners, and ultimately their customers. "

To watch the full interview, please click HERE .

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