CloudPay partners with Nuvei for fast and flexible payroll solutions globally

Nuvei Corporation (Nasdaq:NVEI) announced a strategic partnership with CloudPay on Thursday. The Canadian fintech company’s collaboration with CloudPay, a key global employee pay provider, will enable the latter’s customers access flexible and quicker payroll solutions.

Nuvei - CloudPay partnership

CloudPay has chosen to collaborate with Nuvei for efficient payroll solutions due to its agile technology and global reach. the partnership is set to support an array of global salary payment solutions. This includes the ability to make salary payments via Visa Direct and reducing the transaction period from a couple of days to less than half an hour.

These benefits are currently available in the United States. By the end of the year, additional regions including Europe and APAC are set to enjoy these capabilities.

With regard to its partnership with CloudPay, Nuvei’s CEO Philip Fayer noted, “Our mission is to enable our partners to offer a market-leading payments experience for pay ins and payouts…Enabling CloudPay to offer a transformative payroll solution is just the latest example of how our agile, customizable platform is revolutionizing online payments globally”.

In-house data shows that 95% of the employees who use CloudPay NOW use their debit card for salary payments due to its speed and availability at any time of day or night. This is unlike the conventional salary payment setups that rely on banks and are only available during office hours. With this in mind, transactions processed via Nuvei will enable companies save on time and money.

Indeed, CloudPay has been keen on using strategic partnerships as one of the tools of providing their customers with a modern pay experience. Its flexible, fast, and reliable payroll solutions have transformed its infrastructure from mere operational function to a business driver. As such, employers seeking to advance the employee experience are in a position to do so across the globe.