Skip to content

Payment technology firm Nuvei signs partnership deal with Microsoft

MONTREAL — Payment technology company Nuvei Corp. has signed a partnership agreement with Microsoft Corp. Financial terms were not immediately available.
20231204101212-8311844182d69ff81fd0af598c564c45902df07799c40aa9496b63fd93c036d2
Payment technology company Nuvei Corp. has signed a partnership agreement Microsoft Corp. The Nuvei logo is shown in this undated handout photo. THE CANADIAN PRESS/HO-Nuvei

MONTREAL — Payment technology company Nuvei Corp. has signed a partnership agreement with Microsoft Corp. Financial terms were not immediately available.

Under the deal, Microsoft will start using Nuvei's payments technology in the Middle East and the Africa.

Nuvei says Microsoft will benefit from its knowledge of local markets to optimize its payments for recurring billing and individual transactions across its Office and Xbox products.

The companies also said they are committed to extending the partnership to additional markets, as well as exploring new use cases.

Nuvei chair and chief executive Philip Fayer says it makes sense to explore how they can work more co-operatively as they grow their commercial relationship.

Nuvei shares were up $1.30 or nearly five per cent at $29.86 in early trading on the Toronto Stock Exchange.

This report by The Canadian Press was first published Dec. 4, 2023.

Companies in this story: (TSX:NVEI)

The Canadian Press

push icon
Be the first to read breaking stories. Enable push notifications on your device. Disable anytime.
No thanks