Microsoft will start using Nuvei's customisable payments technology in the Middle East and the Africa region, while benefitting from Nuvei’s deep understanding of local markets to optimise its recurring and individual transactions for both Office and Xbox products
Microsoft partners with Canadian fintech Nuvei. (Credit: efes from Pixabay)
Canada-based fintech company Nuvei has teamed up with Microsoft to improve the customer experiences for its payment products, solutions, and services across key markets.
As part of the partnership, Microsoft will start using Nuvei’s customisable and agile payments technology in the Middle East and the Africa region.
The US-based technology firm will also benefit from Nuvei’s deep understanding of local markets to optimise its recurring and individual transactions for both Office and Xbox products.
Nuvei chair and CEO Philip Fayer said: “Enabling Microsoft to connect to its customers across a wide range of products is a testament to our technology and dedication to world-class customer service. We’re excited to optimize payments for such a universal brand that is trusted and relied upon by so many people.
“As two innovative, technology-led businesses that provide solutions to many of the leading international brands across the globe, it makes sense to explore how we can work more cooperatively as we grow our commercial relationship.”
Microsoft will harness Nuvei’s global payment capabilities, including optimised authorisation rates through local acquisition and superior risk management to minimise false declines.
In addition, the tech company would also use Nuvei’s ability to offer all the relevant local alternative payment methods (APMs) to each market through a single integration.
Nuvei and Microsoft intend to extend the current partnership across additional markets, along with exploring new use cases to enhance the overall user experience for Microsoft.
The partnership may be extended to Microsoft Dynamics 365, its business applications suite that enables improved enterprise resource management, said Microsoft.
Microsoft global payments vice president Ajith Thekadath said: “We’re pleased to extend our payment solutions to the Middle East and African region. Whether it is a one-off purchase, software subscription, or in-game purchasing, payments are critical to our overall customer experience.”
Earlier this year, Microsoft expanded its partnership with PayPal, by integrating PayPal’s buy now, pay later (BNPL) solution in the US, the UK, Australia, Germany, France, Spain, and Italy.
The partnership also provides Microsoft’s US customers with an option to pay with Venmo in the Microsoft Store, which is currently available for Xbox users in the US.