Galeries Lafayette UAE's eCommerce platform is
maximizing its authorization rates and reaching new customers in
global markets through partnering with Nuvei
MONTREAL, Jan. 16,
2024 /PRNewswire/ -- Nuvei Corporation ("Nuvei" or
the "Company") (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech
company, is today announcing its strategic partnership to provide
payments for Galeries Lafayette UAE's eCommerce platform. Galeries
Lafayette UAE is a subsidiary of French Department Stores LLC, the
esteemed French department store in Dubai Mall, synonymous with fashion and
events for over 130 years.
Nuvei is enhancing Galeries Lafayette UAE's payment
capabilities, facilitating their expansion into global markets and
driving better authorization rates. Nuvei is leveraging its smart
routing capabilities and 3D Secure (3DS) technology integration to
increase transaction success rates while maintaining the strongest
stance on security.
The eCommerce platform will benefit from Nuvei's proactive
approach to payment optimization, by receiving detailed, in-depth
analysis on improving its authorization rates securely via 3DS. The
Nuvei cPanel, a platform designed to offer merchants real-time
analytics and reporting at the transaction level, will offer the
department store an unprecedented level of control and insight into
their payment processes, further driving payment optimization.
Though its partnership with Nuvei, Galeries Lafayette UAE's
eCommerce platform is also integrating popular digital wallets such
as Apple Pay and Google Pay into its online checkout, giving its
customers a more flexible and seamless payment experience. Nuvei
expects the partnership to expand into additional markets with more
payment methods beyond wallets and cards added into the payment
flow.
"We chose Nuvei as our payment partner for its in-depth
understanding of our needs as well as its proven track record,"
said Patrick Abchee, Head of Digital Business at Galeries Lafayette
UAE. "Nuvei's sophisticated technology and comprehensive analytics
will play a crucial role in maximizing our transaction
authorization rates, while offering us the ability to easily expand
into new markets," he added.
Philip Fayer, Nuvei Chair and
CEO, commented on the announcement: "Our technology ensures that
our customers are able to optimize their payment flow – even in
markets such as the UAE, where acceptance rates have
characteristically been lower. We are delighted to partner with
Galeries Lafayette UAE and look forward to enabling the business to
maximize its eCommerce sales and accelerate revenue growth."
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company
accelerating the business of clients around the world. 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 50 markets, 150 currencies and 680
alternative payment methods, 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
NVEI-IR
Contact:
Public Relations
alex.hammond@nuvei.com
Investor Relations
IR@nuvei.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/nuvei-powers-ecommerce-payments-for-galeries-lafayette-uae-french-department-stores-llc-302035582.html
SOURCE Nuvei