Nuvei to Implement Visa Direct Push Payments Platform in U.S.
To provide access to fast payouts to its U.S. clients, Canada-based payment technology solutions provider Nuvei Corp. (NVEI) (TSE:NVEI) has partnered with Visa Inc. (V) to implement Visa Direct push payments platform. The platform was initially available in Europe.
Headquartered in Montreal, Nuvei offers mobile payment, online payment and in-store payment solutions to merchants and partners in North America, Europe, the Asia Pacific and Latin America.
Visa Direct will allow Nuvei’s clients to provide fast payout capabilities to their customers, along with real-time routing and processing of transactions. Furthermore, the platform will boost Nuvei’s payout capabilities to create a seamless, secure and efficient payments experience for its clients across all industries.
The Chairperson and CEO of Nuvei, Philip Fayer, said, “The introduction of Visa Direct to our U.S. merchant clients further strengthens our constantly evolving payout options.”
Shares of the company slipped 3.7% on Friday to close at $164.82. (See Nuvei stock chart on TipRanks)
Two months ago, Credit Suisse analyst Timothy Chiodo maintained a Buy rating on the stock and raised the price target to $145 from $80 (9.6% upside potential).
The analyst is confident about Nuvei’s prospects for sustained medium-term organic growth and expects upside potential through mergers and acquisitions.
Overall, the stock has a Moderate Buy consensus rating based on 5 Buys and 2 Holds. The average Nuvei price target of $115.85 implies 12.5% downside potential. Shares have gained 213% over the past year.
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