Virgin Atlantic selects Nuvei as payment partner

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The international airline is the latest in a series of partnerships supporting the booming travel industry

Montreal, Nov. 28, 2022 (GLOBE NEWSWIRE) — Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today announces that it has partnered with one of the leading airlines in the world, Virgin Atlantic. Nuvei builds on its exceptional technology with custom solutions designed for some of the largest companies in the industry.

By partnering with Nuvei, Virgin Atlantic will offer customers a frictionless payment experience; enabling them to pay using the methods they know and trust, globally. The deal gives Virgin Atlantic access to Nuvea’s proprietary modular platform designed to increase take-up rates and accelerate revenue. This agreement is the latest in a series of partnerships with leading travel companies such as Air Transat, Scott Dunn, Selina and others.

“We have always shown a commitment to accelerating business for the travel industry, and our recent partnerships in the space reflect this,” said Philip Fayer, President and CEO of Nuvei.

“We look forward to providing Virgin Atlantic customers with seamless, localized and intuitive digital payment experiences fit for a modern world,” added Fayer.

The global travel industry is estimated to have a market size of USD 992.10 billion by 2026. 73% of total revenue will be generated through online sales by 2026, making digital payments instrumental in the growth of the industry.

Commenting on the partnership, Keli Sandeman, Payments Strategy Manager at Virgin Atlantic said: “We chose to work with Nuvei because we too believe that strategic payments can accelerate revenue; they are a key touch point with our customers – another chance to impress.

“From the beginning, we formed a real partnership with the Nuvea team. Their deep expertise in global payments is complemented by their humane approach to doing business and their willingness to work with us to accelerate the growth of our business. We look forward to taking our payments strategy to new heights by working with Nuvei,” said Sandeman.

About Nuvei

Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company that accelerates the businesses of clients around the world. Nuva’s modular, flexible and scalable technology enables leading companies to accept next-generation payments, offer all payment options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in over 200 markets, with local procurement in over 45 markets, 150 currencies and over 570 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with a single integration.

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About Virgin Atlantic

Virgin Atlantic was founded by entrepreneur Sir Richard Branson in 1984, with innovation and outstanding customer service at its core. In 2021, Virgin Atlantic was voted the UK’s only five-star global airline by APEX for the sixth consecutive year in the official airline ratings. Headquartered in London, it employs 6,500 people worldwide, transporting customers to 27 destinations on four continents. Together with shareholder and joint venture partner Delta Air Lines, Virgin Atlantic operates a leading transatlantic network with onward connections to more than 200 cities worldwide. On February 3, 2020, Air France-KLM, Delta Air Lines and Virgin Atlantic launched an expanded Joint Venture offering a comprehensive route network, convenient flight schedules, competitive fares and mutual frequent flyer benefits, including the opportunity to earn and redeem miles on all carriers.

Sustainability remains central to the airline and since September 2019, Virgin Atlantic has taken delivery of seven brand new Airbus A350-1000 aircraft, helping to transform the fleet into one of the youngest, quietest and most fuel efficient. fuel from the sky. By 2022, the airline will operate a streamlined fleet of 38 twin-engine aircraft following the retirement of the B747-400 and A340-600, making its streamlined fleet 10% more efficient than before the impact of the Covid-19 crisis .

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