On March 29, the global payment technology partner of thriving brands, Nuvei announced that it has added payment support for around 40 of “the world’s leading cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, Litecoin, NEO, Ripple and more.” The new feature will allow the “eCommerce merchants to join the cryptocurrency revolution”, thereby “offering innovative payment methods to access more customers around the world, even in previously hard to reach countries.”
According to CoinMarketCap, the current estimated global market capitalization is approximately $1.6 trillion, thereby it is evident that mainstream adoption of cryptocurrencies has steadily hiked. With the increase in numbers of cryptocurrency holders, merchants are growing their market share by “accepting it as another alternative payment method (APM).”
#PressRelease : Nuvei today announced it has added pay-in & payout support for nearly 40 of the world’s leading cryptocurrencies, including Bitcoin, Ethereum, and more. Read the full press release: https://t.co/ukoiuwnnJJ #NuveiNews #PaymentProcessingNews #FintechNews — Nuvei (@NuveiTech) March 29, 2021
With the increase in consumers opting for shopping habits in the digital platforms, consumers happen to purchase in ease from any site in the countries that support cryptocurrencies. The particular sizable consumer market provides an opportunity for merchants to attract more buyers worldwide.
Philip Fayer, Nuvei’s chairman and CEO said:
We’re excited to provide yet another pioneering solution that empowers our clients, large and small, with frictionless payment experiences and a greater opportunity to partake in a global marketplace. Nuvei continuously strives to offer the most relevant payment mediums for our clients and their customers. Our cryptocurrency support provides convenient, secure and instant transaction processing through a single integration.
According to its press release, Nuvei mentions that being ‘active in over 200 global markets, Nuvei enables access to the most popular cryptocurrencies in addition to supporting nearly 150 local currencies and over 455 APMs. Merchants can now further conduct business across borders, as well as beyond the bounds of the fiat ecosystem. This provides the Company’s merchants with greater reach to consumers worldwide, and the agility to meet demand for additional payment preferences. They also benefit from enhanced security, privacy and integrity of transactions inherent with cryptocurrencies.’