This collaboration aims to introduce Nuvei’s payments technology to Microsoft’s product lines, including Office and Xbox, initially focusing on markets in the Middle East and Africa.
The integration of Nuvei’s technology is expected to streamline Microsoft’s checkout processes, offering better payment options for recurring billing and individual transactions.
Microsoft seeks to leverage Nuvei’s understanding of local market needs, enhancing customer payment experiences. This includes optimised authorisation rates, effective risk management to reduce false declines, and the latter’s ability to offer all of the relevant local alternative payment methods (APMs) to each market through a single integration.
The partnership is set to expand to additional markets and explore new applications, such as integrating with Microsoft Dynamics 365 to boost operational efficiency and enterprise resource management.
Philip Fayer, Nuvei Chair and CEO said,
“Enabling Microsoft to connect to its customers across a wide range of products is testament to our technology and dedication to world-class customer service. We’re excited to optimise 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.”
Ajith Thekadath, Vice President Global Payments at Microsoft 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. Partnering with Nuvei enables our customers to pay wherever they are and whenever they want to.”
This article first appeared on fintechnews.sg