SafeCharge Payments Mexico obtains licenses from Mexico’s c-bank and CNBV
Payment technology company Nuvei Corp (TSE:NVEI) today announces the expansion of its local Mexican acquiring platform.
SafeCharge Payments Mexico, S.A. de C.V., an indirect subsidiary operating under the brand name Nuvei, is now licensed with the Comisión Nacional Bancaria y de Valores (CNBV), Mexico’s banking and securities regulator, and Banco de México, Mexico’s central bank.
The CNBV is an independent agency of Mexico’s Secretariat of Finance and Public Credit body. The autonomous agency supervises and regulates the Mexican financial system. The license is the latest addition to Nuvei’s ongoing global expansion initiatives, furthering its local payment capabilities, technologies and business relationships throughout Latin America and other regions of the world.
The licenses will enhance the ability to perform local acquiring in the Mexican market.
Licensing and endorsement have now been granted by the main financial governing bodies in Mexico. In addition to the CNBV and Banco de México, the company has a direct relationship with PROSA, the main payment processor in Mexico. The additional licenses will provide value to both local and global merchants seeking to increase authorization rates, reduce potential fraud and benefit from fully-supported local acquiring in Mexico and across Latin America, all through Nuvei’s single integrated platform.
Nuvei’s chairman and CEO Philip Fayer stated that the license is anticipated to have a positive effect, both for its clients and stakeholders.
“We expect the CNBV license to further improve our position when pursuing new financial and business relationships within the Mexican regulated market,” he said. “It also allows us to open new channels of communication with the Mexican government and local financial institutions, expanding and strengthening our trusted network as we work to securely and reliably process local and cross-border payment transactions.”