Nuvei Teams up With Microsoft to Streamline Payments for SMEs – Fintech Singapore

by Fintech News Singapore January 31, 2024

Canadian fintech firm Nuvei has announced its latest integration with Microsoft Dynamics 365 Business Central, an ERP (Enterprise Resource Planning) solution tailored for small and medium-sized businesses.

This integration enables organisations worldwide to incorporate various payment methods, such as card payments and instant bank transfers, including ACH transactions in the U.S., into their existing Dynamics 365 Business Central module.

The integration focuses on simplifying accounting workflows, enhancing back-office reconciliation, and improving the efficiency of finance departments in sectors like manufacturing, distribution, wholesale, and construction.

Nuvei’s integration brings features like invoice matching and proprietary cash acceleration tools, designed to shorten the Days Sales Outstanding (DSO) cycle for businesses.

Additionally, it offers access to near-real-time payment information, facilitating more efficient reconciliation of financial data across systems and supporting quicker, more informed decision-making.

This integration is an expansion of Nuvei’s ongoing global payments collaboration with Microsoft, which was announced last month.

Nuvei aims to continue exploring collaborative opportunities with Microsoft across various geographies and use cases.

Philip Fayer

Philip Fayer, Nuvei’s Chair and CEO said,

“Our technology and expertise of B2B payments and ERP systems enables us to equip businesses with payments through their integrated commerce platform to reach their customers, improve working capital, and drive internal efficiencies.

Integrating our payments technology to the market leader in ERP directly connects us to thousands of businesses and millions of users across the globe in a market with substantial total addressable market (TAM). This is an exciting strategic milestone as we grow our emerging payments channel.”

Mike Morton

Mike Morton, Vice President, Dynamics 365 Business Central at Microsoft said,

“Payments, including AR automation, is a critical component of the user experience for ERP.

We’re thrilled that Nuvei has integrated their payment platform with Microsoft Dynamics 365 Business Central, enhancing our offering for our customers.”

Featured image credit: Edited from Freepik

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• Source: https://fintechnews.sg/84386/payments/nuvei-teams-up-with-microsoft-to-streamline-payments-for-smes/