Canadian fintech company Nuvei and Mastercard are collaborating to enable near instantaneous payout capabilities for businesses in Canada. Nuvei will leverage Mastercard Move’s money movement capabilities to facilitate payouts to a consumer’s Debit Mastercard or Reloadable Mastercard Prepaid card.   

Mastercard Move provides financial institutions, fintech companies and their customers with a fast, secure money transfer solution, both domestically and internationally.  The portfolio reaches nearly 10 billion endpoints worldwide – including bank accounts, digital wallets, cards and cash-out locations – across 180 countries in over 150 currencies.  

“Today’s businesses operate in a competitive and fast-paced environment, always fighting to attract and retain the customer. Across multiple sectors, we know customers want fast and easy reconciliation of payments,” said Darrell MacMullin, Senior Vice President, Commercial and New Payment Flows, Mastercard, Canada. “Near real-time access to funds is key.  With Mastercard Move, Nuvei’s partners and customers can improve the payments experience for use cases like online gaming disbursements or fast refunds for greater customer satisfaction.” 

For Canadian companies working with Nuvei, Mastercard Move offers a simplified payment experience by sending payment directly to their consumers’ eligible Mastercard, reducing the dependency on slower bank transfers or cheques. This experience can be seamlessly added to a business’ payments offering through their existing single integration to the Nuvei core platform.   

This announcement is the latest from Mastercard and Nuvei as they further extend their global collaboration, providing businesses with innovative payments solutions to reach their customers.  

“We are thrilled to extend our successful relationship with Mastercard to offer Mastercard Move to even more customers. Our ongoing collaboration to introduce Mastercard Move in new markets globally reflects our dedication to providing cutting-edge payment solutions that meet the needs of our customers and their customers worldwide. This is a key differentiator for businesses looking to enhance the user experience by offering faster and more secure payouts to their customers,” commented Philip Fayer, Nuvei’s Chair and CEO. 

Mastercard works with financial technology companies and financial institutions to enable seamless disbursements in Canada and around the world for use-cases like fast refunds, gig payouts, on-demand wage access and winning payouts for merchants, acquirers, governments and consumers.