PrizePicks Selects Nuvei for Revenue Optimization
Innovative Daily Fantasy Sports platform will use Nuvei’s Cashier to power its payments for growing customer base
Nuvei
Payment Technology Partner
MONTREAL and ATLANTA, Oct. 04, 2021 (GLOBE NEWSWIRE) — Nuvei Corporation (“Nuvei” or the “Company”) (TSX: NVEI and NVEI.U), the global payment technology partner of thriving brands, today announced a partnership with PrizePicks, the largest independently owned Daily Fantasy Sports (DFS) platform in North America. The collaboration will enable PrizePicks to better address the evolving needs of their DFS customers.
Headquartered in Atlanta, Georgia, PrizePicks is a Daily Fantasy Sports platform that simplifies the concept. Customers use their skills to predict if their selected player will perform above or below their projected fantasy points (i.e., “over/under”), as opposed to beating large amounts of other players in a contest.
PrizePicks’ business model revolves around simplicity, and that philosophy carries over into payments, making it easy for players to both deposit and receive winnings by providing a user experience that is flawless in terms of flow and functionality. Choosing Nuvei as their payment partner was the natural strategic decision for future growth.
PrizePicks will utilize Cashier, Nuvei’s feature-rich hosted payment page to provide a frictionless payment experience for its online customers and deliver seamless deposits and payouts, while maintaining compliance with local regulations. Additionally, PrizePicks will benefits from Nuvei’s smart and sophisticated tools and features that optimize payments by significantly increasing acceptance rates, minimizing abandonments, and diminishing fraud.
The Company’s optimization features include smart traffic routing via multiple acquirers, and acceptance of numerous and localized payment methods for fast deposits and payouts—including cards, digital wallets, bank transfers and ACH. Declined transactions will trigger an automated recovery function that will provide the player with other payment options and a second chance for approval.
“Companies working in complex markets are seeking technology partners with proven track records and business intelligence to ensure their rapid expansion,” said Philip Fayer, Nuvei’s Chair and CEO. “We are confident that PrizePicks will demonstrate significant progress in the upcoming quarters as they leverage our platform to drive agile and scalable growth.”
Nuvei’s proprietary platform is designed to handle high volumes of transactions reliably and securely, while maintaining utmost regulatory compliance. The Company has extensive experience in tackling the unique challenges iGaming operators face. Nuvei’s client portfolio includes leading iGaming operators in Europe as well as in the rapidly growing U.S. market.
“As our customer base continues to expand, so does the need for elegant solutions when it comes to fulfillment. As more U.S. states legalize sports betting, we are accelerating our expansion plans,” said PrizePicks CEO Adam Wexler. “Nuvei’s vast expertise in iGaming payments, along with their Cashier technology, is exactly what we need to keep the player experience for our customers seamless and enjoyable.”
About Nuvei
We are Nuvei (TSX: NVEI and NVEI.U), the global payment technology partner of thriving brands. We provide the intelligence and technology businesses need to succeed locally and globally, through one integration – propelling them further, faster. Uniting payment technology and consulting, we help businesses remove payment barriers, optimize operating costs and increase acceptance rates. Our proprietary platform provides seamless pay-in and payout capabilities, connecting merchants with their customers in 204 markets worldwide, with local acquiring in 45 markets. With support for over 480 local and alternative payment methods, nearly 150 currencies and 40 cryptocurrencies, merchants can capture every payment opportunity that comes their way. Our purpose is to make our world a local marketplace.
For more information, visit www.nuvei.com.
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