Nuvei

Nuvei is a Montreal-based global payment technology company that builds infrastructure for businesses to accept payments, distribute funds, and access financial services across more than 190 markets. Founded by Philip Fayer, the company set a Canadian record with its $833 million TSX IPO in 2020, later dual-listed on Nasdaq in October 2021, and in November 2024 was taken private in a $6.3 billion acquisition by private equity firm Advent International, with Fayer retaining a significant equity stake alongside Novacap and the Caisse de depot et placement du Quebec.

The company positions itself as modular, end-to-end payment infrastructure. Its core offerings span pay-ins (online and in-store payment acceptance), payouts (fund disbursement to individuals and businesses), card issuing (virtual and physical), embedded banking, and a suite of risk and compliance tools including fraud detection, chargeback management, and authorization optimization. A single API integration gives merchants access to more than 720 alternative payment methods, local acquiring in 53 markets, and support for 150 currencies.

Solana and Stablecoin Settlement

Nuvei's most direct connection to the Solana ecosystem came in September 2023, when Visa announced it was expanding its stablecoin settlement pilot to include Nuvei and Worldpay as merchant acquirers. Under this arrangement, Visa uses USDC on the Solana blockchain to settle payments to acquiring banks like Nuvei, which then route funds to merchants. Rather than receiving fiat via traditional bank wire after a transaction clears on VisaNet, Nuvei can receive USDC on Solana and convert it for merchant disbursement.

Solana was specifically chosen for this settlement layer because of its high throughput and low transaction costs -- advantages that matter at the volume and speed of card payment settlement. This made Nuvei one of the first major payment acquirers to operate as a live USDC recipient on Solana for real merchant settlement flows, a meaningful validation of the network's viability for institutional-grade payment infrastructure.

Broader Crypto and Digital Asset Platform

Beyond the Visa-Solana settlement program, Nuvei operates one of the larger crypto payment infrastructure platforms in the market. The company serves more than 450 crypto partners including exchanges, wallets, brokers, NFT platforms, and blockchain gaming companies. Its fiat on-ramp and off-ramp services support more than 200 cryptocurrencies against 100+ fiat currencies through a single API, enabling crypto platforms to onboard customers from almost any country and convert between fiat and digital assets without building their own banking relationships.

The platform processes more than $4 billion in crypto payments annually and serves 3.5 million-plus end users across its crypto partner network. It supports stablecoins across 14 blockchains including USDC and provides 24/7 settlement infrastructure, which matters in crypto markets that operate continuously. The stablecoin money movement service offers blockchain-powered cross-border payouts designed to lower FX costs in emerging markets and deliver faster settlement than traditional correspondent banking.

For crypto exchanges and wallets, Nuvei bundles compliance infrastructure that these platforms typically struggle to build independently: risk and fraud scoring, KYC and AML tooling, chargeback management for card-funded crypto purchases, and broad payment method coverage to serve users in markets where card rails are limited.

Traditional Payment Business and Agentic Commerce

The crypto and blockchain segment sits alongside a large traditional payments business. Nuvei's core market is software platforms, marketplaces, and enterprise merchants that need unified global payment infrastructure. In 2026, the company expanded into agentic commerce, completing a live proof of concept with Visa, Arvato Systems, and fashion brand Kings and Priests to process a merchant-initiated purchase triggered autonomously by an AI agent -- a signal of where Nuvei expects payment flows to evolve.

The company's embedded finance push also extends to ERP integration through a partnership with Syspro for manufacturing and distribution, and to enterprise accounts receivable automation through a partnership with BlackLine for invoice-to-cash workflows. The strategy is to embed payment acceptance deeply into vertical software stacks rather than operate solely as a standalone gateway.

$2.75 Billion Payoneer Acquisition

In June 2026, Nuvei announced the acquisition of Payoneer for approximately $2.75 billion. Payoneer specializes in cross-border payouts for freelancers, small businesses, and marketplace sellers -- a complementary capability to Nuvei's enterprise focus on payment acceptance. The combined entity is expected to carry roughly $3 billion in annual revenue and more than $500 billion in annual payment volume, making it one of the larger privately-held fintech platforms globally. New executive leadership including a new COO, CFO, and Chief Product and Technology Officer was announced in July 2026 to lead integration and the company's next phase of growth.

Ownership Structure

Following the 2024 Advent International take-private, Nuvei's ownership is split among Advent at approximately 46 percent, founder Philip Fayer at 24 percent, Novacap at 18 percent, and the CDPQ at 12 percent. Fayer remains actively involved as chairman. The company is headquartered in Montreal, Quebec, Canada, with operations distributed across its key markets worldwide.

For the Solana ecosystem, Nuvei's most relevant role is as a licensed, regulated financial infrastructure provider that has demonstrated willingness to adopt Solana for settlement-layer functions at institutional scale -- one of the first traditional payment processors to put real transaction settlement volume through the Solana network as part of Visa's stablecoin settlement expansion.