inDrive selects Nuvei to be its payments partner in Latin America
The world’s second most downloaded ridesharing mobility app partners with Nuvei to optimize payments to its drivers
MONTREAL, July 10, 2023 (GLOBE NEWSWIRE) -- Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that it has been selected by inDrive, a mobility solutions provider available across 47 countries, as its payments provider for payouts to its drivers in Latin America.
Nuvei is enabling inDrive to offer a comprehensive range of payout options, including payments to cards and all relevant alternative payment methods (APMs) in the Latin America region through a single integration. With Nuvei's cutting-edge payment technology and extensive acquiring reach, inDrive is integrated to a robust payment infrastructure for seamlessly processing transactions that will accelerate its growth.
In 2022, inDrive was the second most downloaded ride-hailing app worldwide based on Google Play and App Store data.
Nuvei's collaboration with inDrive is particularly significant for the Latin American market, where businesses face unique payment challenges including lower card acceptance rates and a significant unbanked population that relies on alternative payment methods for financial inclusion. With its deep understanding of the region's payment landscape, Nuvei has established itself as a market-leading payments provider in countries across Latin America.
"We are thrilled to partner with inDrive to elevate the payment experience for rideshare drivers in Latin America," said Phil Fayer, CEO at Nuvei. "By combining inDrive's local expertise with Nuvei's payments technology, we’re bringing inDrive closer to its drivers through payments."
Alexander Akhmataev, Director of Latin America Countries, inDrive: "Our partnership with Nuvei represents another step forward in advancing the payment landscape in Latin America. By seamlessly and securely enabling our drivers to receive payments through their preferred methods, InDrive remains steadfast in its commitment to consistently enhance the ridesharing experience, empowering its users with unprecedented freedom of choice”
About inDrive
inDrive is a global mobility and urban services platform headquartered in Mountain View, California, USA. The inDrive app has been downloaded over 175 million times, and was the second most downloaded mobility app in 2022. In addition to ride-hailing, inDrive provides an expanding list of urban services, including intercity transportation, freight delivery, task assistance, courier delivery and employment search.
inDrive operates in 614 cities across 47 countries. It supports local communities via its peer-to-peer payment model and community empowerment programs, which help advance education, sports, arts and sciences, gender equality and other vital initiatives.
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About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 47+ markets, 150 currencies and more than 600 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
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Alex Hammond Nuvei Investor Relations Nuvei
