Nuvei, a leading global payments services provider, and the Mercedes-AMG Petronas Formula One Team sign a multi-year sponsorship deal.
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Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, and the Mercedes-AMG Petronas Formula One Team today announced a multi-year sponsorship agreement that will commence ahead of the 2023 Formula 1 season.
Nuvei is a global payments technology company dedicated to accelerating its customers’ revenue growth through payments. With payments processing services in more than 200 markets, including local acquiring in over 45 countries, Nuvei connects eCommerce businesses with their customers wherever they are in the world.
In addition to payment processing and acquiring, Nuvei’s full-stack solution includes pay-ins and payouts, optimization, orchestration, fraud prevention, risk management, and much more through a single, seamless integration. And in an era of eCommerce where agility is critical to optimization, Nuvei’s modular approach to payments makes it the most flexible, customizable payment service provider in the market. Nuvei is headquartered in Montreal and listed on the Nasdaq and Toronto Stock Exchanges.
Toto Wolff, Team Principal and CEO of the Mercedes-AMG Petronas Formula One Team, said:
We’re thrilled to welcome Nuvei as a long-term partner in time for the start of the 2023 Formula One season. Nuvei has a reputation as a leader in its field with a global footprint. Its dedication to performance excellence through innovation aligns with our values, so we’re looking forward to a successful period working closely together as we share the Nuvei brand with our global audience and find more similarities between our approaches to success.
Philip Fayer, Nuvei Chair and CEO, commented on the announcement:
Being a people-first, technology-led business ourselves, we identify strongly with the ethos of the Team, which is just one of the reasons we are incredibly excited to be joining the Mercedes-AMG Petronas Formula One Team family.
As a leading global payments company with a heritage of delivering the most agile and transformative payments technology in the market, we know what it takes to sustain being at the cutting edge of innovation. So we’re proud to be associated with one of the most pioneering teams in the history of motorsport.
Richard Sanders, Chief Commercial Officer of the Mercedes-AMG Petronas Formula One Team, added:
We are delighted to announce our new partnership with Nuvei ahead of the start of the season and welcome them into our partner ecosystem. Fintech is a burgeoning industry, and partnering with one of the leading payment technology companies in this space is exciting. Our shared values provide the platform on which we are excited to build a successful, long-term partnership.
From the 2023 Formula One season onwards, the Nuvei logo will appear on the helmet and overalls of the Mercedes-AMG Petronas Formula One Team drivers, pit crew overalls, and Team clothing. Nuvei will also be able to utilize team members, including drivers Lewis Hamilton and George Russell and Team Principal and CEO Toto Wolff, for its more comprehensive marketing activities for customers, clients, and beyond. Nuvei branding will be unveiled at the Team’s 2023 F1 car launch later this week.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is a Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 600 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
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