Nuvei a leading provider of payment technology solutions has announced a partnership with Visa to offer Visa Direct in Colombia. This marks Nuvei’s position as the first global payments provider to bring Visa Direct to Colombian businesses.
Enhanced Payment Capabilities for Colombian Merchants
Visa Direct is a VisaNet processing solution that facilitates secure, near real-time funds transfers directly to financial accounts using card credentials. It empowers businesses to enable various use cases, including person-to-person (P2P) payments, bill payments, cross-border remittances, and instant fund disbursements directly to eligible debit or prepaid cards.
Nuvei’s existing full-stack modular payments platform provides Colombian merchants with seamless access to Visa Direct through their single integration. This integration empowers them to offer instant payouts to their customers, with transactions processed and routed in near real-time.
Faster, More Convenient Payment Experiences
Instant payout capabilities through Visa Direct enable businesses across various industries that rely on payouts to offer their customers a faster, more secure, and seamless payment experience.
Strategic Partnership Drives Innovation
“Providing instant payouts through Visa Direct aligns with our strategy of delivering best-in-class payment solutions tailored to each market we serve,” stated Philip Fayer, Chair and CEO of Nuvei. “Colombia boasts one of the fastest-growing e-commerce markets in Latin America. We’re proud to introduce innovative solutions that optimize payment flows, enhance user experiences, and empower Colombian businesses to operate with maximum efficiency.”
This partnership reinforces Nuvei’s reputation as a pioneer in introducing cutting-edge payment solutions in Colombia. Nuvei recently established itself as the first global payments provider to offer direct local acquiring in the country, enabling online businesses to accept card payments directly without relying on third-party processors.
Global Expansion of Visa Direct
Visa Direct is already accessible to Nuvei’s partner merchants in over 30 European countries, including the UK, as well as North American regions like the US and Canada, and APAC regions like Hong Kong and Singapore. Extending Visa Direct access to Colombian businesses signifies the latest development in the ongoing strategic partnership between Nuvei and Visa.
“Our collaboration with Nuvei has empowered businesses in North America and Europe to leverage the advantages of faster, safer digital payouts to cards,” commented Humberto Guihur, Product and Innovation VP for Visa Andean Region. “We’re thrilled to expand this partnership to Colombia, allowing even more merchants to offer their customers an industry-leading payments experience.”
