VTEX chooses Nuvei as it gears up for global expansion

Ellie Duncan
19 Jan 2023

Canadian fintech Nuvei has been chosen by global enterprise digital commerce platform VTEX for the “depth” of its local payment technology expertise in markets such as Brazil, Mexico, Colombia, Singapore, and Hong Kong, as it eyes expansion.

The new global partnership between VTEX and Nuvei aims to provide “greater flexibility and customisation” for VTEX’s retail and brand clients, as it expands further into Latin America and enters new markets in Asia Pacific, North America and Europe.

Nuvei was also selected for the “breadth” of its cross-border payment capabilities that include access to in excess of 580 alternative payment methods in more than 200 markets.

“Most companies today force brands to choose between customisation or agility. At VTEX, we take a different approach.

“We deliver unprecedented time-to-revenue with an extensive set of capabilities. That is why this partnership is so strategic,” said Santiago Naranjo, chief revenue officer at VTEX.

VTEX has more than 2,400 customers and over 3,200 online stores in 38 countries, and counts Sony, AbInbev, L’Oreal, Carrefour, Mazda, Motorola, Black & Decker, Levis, and Whirlpool among its clients.

Philip Fayer, chair and CEO of Nuvei, added: “We help businesses grow and connect with their customers.

“VTEX is a global technology company that values collaboration and innovation. We’re proud to be supporting them amid their global expansion.”

Earlier this month, Nuvei announced it will acquire US-based integrated payments provider Paya, in a deal worth US$1.3 billion.

Faver said the proposed acquisition will combine two “people-first, technology-led, high-growth” payment platforms.