Solutions by Text selects Nuvei to launch its embedded payments function
Canadian fintech company Nuvei Corporation (TSX:NVEI) announced today that it has been selected by Solutions by Text (SBT), a platform that enables consumer finance businesses to engage their customers in real-time time over text, to launch its embedded payments function.
This partnership facilitates SBT’s customers to streamline their billing and payments processes through SBT’s FinText platform. Consumers who receive text notifications that a bill is due are now able to initiate the transaction directly through messaging instead of via a separate online portal or physical payment. This greatly enhances the overall consumer experience.
In addition to card payment processing, SBT’s single integration with Nuvei’s core platform technology enables businesses to accept payments from all relevant alternative payment methods (APMs), including account-to-account transactions (e.g. ACH in the U.S.) and digital wallets such as Google Pay and Apple Pay.
Enhancing the speed and convenience of the user experience will not only help SBT strengthen its connections with consumers, but also lead to increased digital payment rates and reduced resource commitment in managing payments.
David Baxter, CEO of Solutions by Text, commented on the announcement:
“We’re dedicated to offering consumer finance businesses a solution with the ultimate consumer experience for paying bills. Partnering with Nuvei to enable customers to make payments directly through texts smoothly and securely is a huge upgrade that will underpin our future market expansion and growth.”
Philip Fayer, Nuvei Chair and CEO, added:
“We’re thrilled to partner with Solutions by Text to bring this huge consumer experience upgrade to the consumer finance market. Enabling payments of bills directly through text reminders is another example of how businesses can get closer to their customers through payments.”