Le Panier Bleu partners with Nuvei to improve payments for its marketplace platform in Quebec

Nuvei for Platforms provides enterprise-grade payment solutions to Canadian provincial e-commerce businesses to accelerate revenue growth for SMEs

MONTREAL, Feb. 02, 2023 (GLOBE NEWSWIRE) — Nuvei Corporation (“Nuvei”) (Nasdaq: NVEI ) (TSX: NVEI ), the Canadian fintech company, announced today that it has been selected as the exclusive payment technology provider for Le Panier Bleu, an online marketplace platform supporting businesses in the Canadian province of Quebec.

Le Panier Bleu uses Nuvei’s market-leading integrated payments technology, Nuvei for platformsto provide access to enterprise-grade payment solutions to small and medium-sized businesses through its e-commerce platform.

In order to compete with global e-commerce giants, it is essential that Le Panier Bleu merchants can benefit from ready, efficient, adaptable and affordable payment services where the user experience of online shopping can be personalized.

Nuvei for Platforms is packaged with the full functionality of Nuvei’s core modular platform, including merchant integration, payments and payouts, optimization, orchestration, fraud prevention, risk management and more, all in one seamless integration.

Digital markets and the future of e-commerce

Digital marketplaces dominate the e-commerce landscape and business opportunities are growing. Within e-retail, sales marketplaces already have a leading position over traditional direct web sales, accounting for more than half of global sales now and projected to grow to 59% of all e-commerce by 2027. Multi-vendor marketplace platforms allow merchants to set up portals showcasing their unique inventory and services in a trusted place that can bring together thousands of merchants. However, their continued success increasingly relies on democratizing payments that accelerate growth and win customers to enable small businesses to thrive in a highly competitive environment.

Driving Quebec’s economy

Originally a non-profit organization backed by the provincial government and now a private company backed by institutional investors, Le Panier Bleu is a Quebec-based e-commerce portal that promotes and sells merchandise from merchants in the region. It is designed, as its own tagline indicates, todrive our economy.”

The marketplace now includes more than 200 Quebec merchants selling 40,000 products and is working to triple the number of businesses using the e-commerce hub before the end of the year.

β€œLe Panier Bleu is dedicated to stimulating Quebec’s economy by helping smaller merchants compete more effectively with larger companies. We want to be the marketplace of choice for our online shoppers, while supporting businesses in our region with their current and future e-commerce needs,” commented Le Panier Bleu General Manager Alain Dumas.

“Smooth, safe and seamless payments are integral to this, and Nuvei helps us ensure seamless transactions between our merchants and their customers,” said Dumas.

“As a disruptive and growing business with our own Canadian heritage, we are proud to support Le Panier Bleu’s new community-driven marketplace and help businesses in North America and beyond accelerate their growth with our adaptive and comprehensive approach to integrated payments,” added Nuvei Chairman and CEO Philippe Faier.

About Nuvei

Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company that accelerates the businesses of clients around the world. Nuvei’s modular, flexible and scalable technology enables leading companies to accept next-generation payments, offer all payout options and leverage card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquisition in 45+ markets, 150 currencies and more than 580 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.

For more information, visit www.nuvei.com

CONTACT: Anya Bulakhova Nuvei [email protected]

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