Canadian financial technology specialist Nuvei unveiled a new partnership agreement with 888, a global gambling juggernaut. As per the deal, the former company will enhance the operator’s payment capabilities, helping it expand its presence in the United States.

According to the announcement, 888 will leverage Nuvei’s superior tech platform, acquiring reach, instant bank-to-bank payments and profound knowledge of iGaming to bolster its business while preventing risk.

Nuvei’s Instant Bank Transfer is the first payment method for instant account-to-account deposits and payouts in the US. This means that 888’s American customers will now be able to directly move funds between their 888 account and their bank card.

This is not the first time 888 and Nuvei have worked together. The fintech specialist has been powering 888’s European business with solutions ever since 2017. In addition, the tech company helped 888 make a foray into the Canadian province of Ontario, which legalized iGaming last year.

The new agreement with 888 cements Nuvei as a leading fintech provider to the iGaming industry. The company is well-known for its solutions that help operators maximize revenues while providing players with intuitive payment options.

Earlier this year, the provider also penned a partnership arrangement with Resorts Digital Gaming.

888 Trusts Nuvei’s Solutions

Representatives of the two companies shared their thoughts on the agreement. Nuvei’s chairman and chief executive officer, Philip Fayer, said that his team is excited to grow its relationship with 888. Fayer noted that the fintech provider is excited to help the operator expand by powering its US business with many key solutions.

Optimizing card payment acceptance is a key component of the cashier experience, and Nuvei has decades of experience supporting operators maximize their revenue growth.

Philip Fayer, chair & CEO, Nuvei

Noam Klivitzky, 888’s vice president of US marketing, recognized the importance of such solutions. He said that seamless deposits and withdrawals are “critical to the overall platform experience” and something that players appreciate a lot.

At 888 we’re committed to offering the most comprehensive iGaming experience in the market, so we’re excited to add Nuvei’s card acquiring capabilities alongside its Instant Bank Transfer solution.

Noam Klivitzky, VP of US marketing, 888

Klivitzky praised Nuvei’s history of helping iGaming operators optimize their performance through fintech solutions.

Speaking of 888, the company recently welcomed Per Widerström as its new chief executive officer. The appointment came shortly after the departure of 888’s director of business development, Yariv Lavi.

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The new collaboration sees Nuvei team up with Resorts Digital Gaming (RDG) and provide the popular gaming operator with its bank-transfer technology to simplify the payment processes at RDG-owned websites and brands.

Resorts Digital Gets Payment Options Enhancement

RDG is the online gambling arm of Resorts Casino, and it operates both ResortsCasino.com and MoheganSunCasino.com. Thanks to this new collaboration, the operator will significantly strengthen its payment capacity and offer frictionless deposits and withdrawals so that consumers may benefit from one of the best possible experiences.

Moving forward, RDG’s brands will offer the Nuvei Instant Bank Transfer, significantly strengthening the online payment capacity for the company.

RDG CEO Ed Andrewes welcomed the opportunity to add this particular solution and hailed it as a convenient deposit and payout payment method that is in line with what US customers expect from leading brands such as Resorts Digital. He added:

Integrating Nuvei into our cashier supports our mission to provide all the relevant payment methods our players demand.

RDG CEO Ed Andrewes

Players can now leverage the solution to deposit from their bank accounts into the Nuvei solution and online casino brands to guarantee a seamless payment journey and fast cashouts.

Players Get to Enjoy a Fast Payout Solution to Empower Their Gameplay

Nuvei CEO and chair Philip Fayer was similarly pleased with the opportunity to see this partnership take shape, calling the Nuvei solution a relevant and important payment option that is now being recognized by iGaming brands in the United States. Fayer added:

Nuvei Instant Bank Transfer was the first payment method to bring truly instant payouts to the US iGaming market. This enhanced user experience has eliminated the need for players to wait hours or even days when they request to withdraw funds from their gaming accounts.

Nuvei CEO and chair Philip Fayer

Fayer added that together, RDG and Nuvei will ensure that players in the Garden State have access to some of the most worthwhile payment options as they enjoy their gaming and betting experience. Nuvei’s payment gateway will also help strengthen and drive results for the company itself in terms of player retention and revenues.

Nuvei has been growing its global footprint, most recently expanding in the regulated market in the Netherlands and powering Holland Casino, a prominent local operator, with payment solutions.

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Payments technology provider Nuvei Corporation announced today it has partnered with Resorts Digital Gaming (RDG) to power online casino platforms across all of its brands with instant bank transfers.

Enhancing User Experience

The new agreement with RDG will see the fintech company offer the Nuvei Instant Bank Transfer solution to online casino players of all iGaming brands of the casino company. Operating out of New Jersey, RDG is the digital arm of Resorts Casino Hotel.

Commenting on the agreement, the chief executive officer of RDG, Ed Andrewes, outlined the operator’s dedication “to offering the best user experience in New Jersey,” hailing Nuvei Instant Bank Transfer as “one of the most popular and convenient deposit and payout payment methods in the US iGaming market.”

“Integrating Nuvei into our cashier supports our mission to provide all the relevant payment methods our players demand,” Andrewes said, eager to start “working closely with Nuvei and its team and even expand the partnership beyond that into opportunities to accelerate growth.”

The instant bank transfer solution allows players to deposit instantly into their gaming accounts from their bank accounts, while the process is further simplified by the exclusive integration of Nuvei with Plaid, allowing funds to be uploaded to a gaming account with a single click.

Seamless Payment Options

Philip Fayer, chief executive officer and chair at Nuvei, also commented on the new partnership, stressing the importance of “seamless and relevant payment options” for iGaming operators in the US and the role payment options play for operators in terms of player acquisition and revenue growth.

“Nuvei Instant Bank Transfer was the first payment method to bring truly instant payouts to the US iGaming market,” Fayer said, pointing out that “this enhanced user experience has eliminated the need for players to wait hours or even days” to have money from their gaming account withdrawn.

An integration of Nuvei with The Clearing House’s Real Time Payments (RTP) Network allowed Nuvei to become the first payment provider to offer its partners instant withdrawal options for players with bank accounts in banks that are connected to the RTP network.

“RDG is a pillar of the iGaming industry in New Jersey, so we are looking forward to working together to maximize the benefits that our market-leading platform and deep knowledge of the industry will bring to their player experience, and ultimately revenues,” Fayer concluded.

RDG is the latest online casino provider to team up with the Canadian fintech in which Hollywood actor, producer and entrepreneur, Ryan Reynolds, recently invested. Other partners from the iGaming sector include Holland Casino which recently took advantage of Nuvei’s instant payout solutions.

As the digital arm of Resorts Casino Hotel, RDG embraces the values of its parent that has made a name for itself by offering world-class casino and sports betting in a relaxed environment in Atlantic City, boasting hundreds of online slots and table games, live dealer games and virtual sports on the platforms it operates, including ResortsCasino.com and MoheganSunCasino.com.

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Nuvei reported that its total volume increased to $42.4 billion, or a 45% gain for the period ended March 31, 2023. The company saw revenue increase by 20% to $256.5 million, which was mostly based on eCommerce.

Nuvei Marks Big Regional Gains, Improved Financial Outlook

The results also saw big regional gains, with the North American market growing by 55% and the Latin American market adding another 68% in regional gains there. Europe, the Middle East, and Africa, however, saw a decrease in overall revenue by 4% to $119.8 million.

Nuvei has utilized the power of payments to offer better results for its partners in iGaming and gaming, assisting brands convert and onboard their customers – something that is often achieved through a smoother registration and payment process.

At the beginning of the year, Nuvei also agreed to acquire Paya Holdings for $1.30 billion, which is a company focusing on integrating payment and commerce solutions for North American merchants. The acquisition was hailed at the time by Nuvei CEO Philip Fayer who said that the move was a step in the evolution of the company and the creation of a preeminent payment technology provider.

Paya is also going to help the company achieve between $50 million and $100 million in new revenue synergy opportunities by 2027. Nuvei has also been spending heavily on technological investment, with the company’s investment in the segment going up by 40%.

In light of these results, Nuvei has also provided its financial outlook for the next quarter which will be ending up on June 30, 2023, and the fiscal year which will end on December 31, 2023. Mostly, the company expects stronger organic revenue growth.

Strong Growth and Good Baseline for Future Success

Fayer felt confident about his company’s present results, and he hailed the first quarter as a good start to 2023. He commended the gains in market share, innovation, and geographic reach and said that all of this was a precursor of even stronger quarters to come.

“I am confident that Nuvei’s growing leadership position within the payment ecosystem and global platform advantages will allow us to continue to deliver sustainable and durable growth,” Fayer noted.

The company has been rapidly building its gaming footprint in the United States with license approvals in both Maryland and Kansas.

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