An Industry First: Nuvei Brings Real-Time Deposits to U.S. iGaming
03 Mai 2022 - 3:00PM
Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX:
NVEI), tomorrow’s payment platform, announces today that it has
joined with Fifth Third Bank, National Association, to bring
real-time deposits to the U.S. sports betting and iGaming
industries. In a first for the industry, the rollout, which will
become available for all Nuvei partners through its open banking
platform in North America, enables merchants to receive instant
real-time deposits.
Unlike traditional deposits across the ACH Network payment
system, which can take days to settle, real-time deposits move from
a player’s bank account to a merchant’s bank account by leveraging
the Request for Payment feature available on the RTPⓇ network, the
real-time payments network from The Clearing House. The “good
funds” model reduces fraud, and lowers insufficient funds risk.
Operators benefit from receiving a positive confirmation status to
confirm successful deposits, improving market credibility and
trust.
Additionally, real-time deposits are extremely advantageous for
sports betting customers. As in-play betting occurs in real-time
during live sporting events, players need to fund their gaming
account instantly and safely. Available exclusively through Nuvei’s
Instant Bank Transfer product, merchants can now benefit from both
real-time deposits and instant withdrawals through the industry
leading RTPⓇ network.
“This is a game-changer for merchants. Real-time deposits will
revolutionize the way payment solutions are provided for online
gaming operators, making expensive guaranteed payment options
obsolete,” said Philip Fayer, Nuvei’s Chair and CEO. “The rollout
marks another step in our journey as our presence in the US sports
wagering and iGaming industries expands and as our team continues
to provide a range of leading payment solutions for players and
merchants.”
“Through real-time payments, we extend our reach and help enable
a consumer-focused, omnichannel experience,” said Bridgit Chayt,
Senior Vice President, Head of Commercial Payments and Treasury
Management, Fifth Third Bank. “We could not be more pleased about
the strategic collaboration with Nuvei. Relationships that bring
innovation and new possibilities to the market drive Fifth Third
Bank’s customer-centric commitment.”
“The RTP network provides a platform for financial institutions,
fintechs, and corporate users to create innovative new payment
products for their customers,” said Steve Ledford, Senior Vice
President of Product Strategy and Development, The Clearing House.
“Nuvei and Fifth Third’s real-time deposit offering is a great
example of how the RTP network is helping to facilitate payments
innovation.”
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow’s payment platform.
Designed to accelerate customers’ business, Nuvei’s modular,
flexible and scalable technology allows leading companies to accept
next-gen payments, offer all payout options and benefit from card
issuing, banking, risk and fraud management services. Connecting
businesses to their customers in more than 200 markets, with local
acquiring in 45+ markets, 150 currencies and more than 550
alternative payment methods, including cryptocurrencies, Nuvei
provides the technology and insights for customers and partners to
succeed locally and globally with one integration.
For more information, visit www.nuvei.com.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio, and the indirect parent company
of Fifth Third Bank, National Association, a federally chartered
institution. As of March 31, 2022, the Company had $211 billion in
assets and operates 1,079 full-service Banking Centers, and 2,201
Fifth Third branded ATMs in Ohio, Kentucky, Indiana, Michigan,
Illinois, Florida, Tennessee, West Virginia, Georgia, North
Carolina and South Carolina. In total, Fifth Third provides its
customers with access to approximately 54,000 fee-free ATMs across
the United States. Fifth Third operates four main businesses:
Commercial Banking, Branch Banking, Consumer Lending, and Wealth
& Asset Management. Fifth Third is among the largest money
managers in the Midwest and, as of March 31, 2022, had $549 billion
in assets under care, of which it managed $61 billion for
individuals, corporations and not-for-profit organizations through
its Trust and Registered Investment Advisory businesses. Investor
information and press releases can be viewed at www.53.com. Fifth
Third’s common stock is traded on the NASDAQ® Global Select Market
under the symbol “FITB.”
About The Clearing House
The Clearing House operates U.S.-based payments networks that
clear and settle more than $2 trillion each day through wire, ACH,
check image, and real-time payments. It is the nation’s most
experienced payments company, with a long track record of providing
secure and reliable systems, payments innovation, and strategic
thought leadership to financial institutions. In 2017, The Clearing
House revolutionized U.S. payments by introducing the RTP® network,
which supports the immediate clearing and settlement of payments,
along with the ability to exchange related payment information
across the same secure channel. These RTP capabilities enable all
financial institutions to offer safer, faster, and smarter digital
transaction services for their corporate and retail customers.
Learn more at www.theclearinghouse.org
Public Relations
Nuvei
PR@nuvei.com
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