Nuvei closes acquisition of Simplex
Payment technology services provider Nuvei Corp (TSE:NVEI) has completed the acquisition of SimplexCC Ltd.
Simplex, through its proprietary fraud and risk management tools which are backed by proven artificial intelligence (AI) technology, is a leading fiat-cryptocurrency gateway connecting market participants, including exchanges, brokers, wallet and liquidity providers. Simplex delivers the infrastructure for users to buy or sell (i.e. on-ramp/off-ramp capabilities) digital assets including 45+ cryptocurrencies, non-fungible tokens (“NFTs”), and currently supports over 50 fiat currencies.
Simplex provides fraudless payment acceptance to its customers, resulting in higher conversion rates and better liquidity simplifying instant fiat purchases for cryptocurrencies, NFTs and decentralized finance (DeFi) providers.
Nuvei intends to offer Simplex’s advanced capabilities and enhanced solutions to its merchants across all verticals, similarly introducing all of Nuvei’s product solutions and capabilities to Simplex’s customers.
Nuvei has completed several acquisitions over the past year. These include the acquisitions of provider of integrated payment solutions Base Commerce, LLC and that of Smart2Pay Global Services B.V.