Nuvei to boost its Mexican payments offer thanks to licence


Valentina Vitali
Valentina Vitali
FXC Intelligence Research Analyst
Valentina is a Research Analyst at FXC Intelligence, the data sister company of FXcompared. Valentina is passionate about payments and fintech. Valentin enjoys analysing money transfer companies and… Read more
  • Nuvei, which is owned by SafeCharge Payments Mexico, S.A. de C.V, has received a licence from the Comisión Nacional Bancaria y de Valores regulator as well as the country’s central bank.
  • The expanded service will provide a range of benefits to end-user merchants in the major Latin American country – such as an increased set of defences against fraud plus a boosted chance of payment authorisations going through as planned.
  • A senior figure at the firm said that the new licence would mean a better flow of communication between the company and the Mexican authorities.

A payment processing company has announced its plans to expand its fleet of services following a newly issued licence from a local regulator. 

Nuvei has been licensed by the Comisión Nacional Bancaria y de Valores (CNBV) as well as Banco de México.

The CNBV is a regulator in the country that focuses on the financial sector in which Nuvei operates.

Banco de México is the country’s central bank.

Sellers of goods and services in Mexico will now be able to use Nuvei’s services to improve the chances of their payments being authorised.

By using Nuvei’s platform, they will also be able to mitigate the risks of fraud.

Technically, the firm that has been authorised is SafeCharge Payments Mexico, S.A. de C.V.

However, this company trades in the country under the name Nuvei.

In a statement, Nuvei explained that it was given the new licence due to its scale and pre-existing successes.

As a result, the firm will now be able to work more effectively inside Mexico – especially in the realm of acquiring.

The firm also confirmed that it is, at present, the only affiliated online processor (aside from banks) to receive this licence.

It also confirmed that it would ensure that it stuck to the terms of any relevant compliance rules when carrying out its international money transfers.

Philip Fayer, who serves as the firm’s chairman and chief executive officer, said that the development would lead to the company enjoying new inroads into the Mexican market.

He pointed out, though, that this would simply be an improvement on its current position.

“We expect the CNBV license to further improve our position when pursuing new financial and business relationships within the Mexican regulated market,” he said.

He also said that it would improve relations between the firm and the government of Mexico, while also helping the company to interact better with institutions such as banks – leading to better payment experiences for users.

“It also allows us to open new channels of communication with the Mexican government and local financial institutions, expanding and strengthening our trusted network as we work to securely and reliably process local and cross-border payment transactions,” he explained.

If you would like to find out more about what the many players in the cross-border payment sector can offer you, then head over to this page and check out some reviews of other firms.

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