Euroairlines selects Nuvei to accelerate its revenue and boost growth

Press Release from Nuvei

Nuvei, in conjunction with UATP, will process transactions for both direct and indirect traffic for Euroairlines in multiple regions globally

MONTREAL, Jan. 18, 2024 /PRNewswire/ -- Nuvei Corporation ("Nuvei" or the "Company") (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today its partnership with Euroairlines, a Spanish-based aviation operator known for its comprehensive passenger and freight services. This collaboration marks a pivotal step in Euroairlines' strategy to grow its business and enhance payment processing in its main markets across the US, Europe, and Latin America, and further signifies Nuvei's continued momentum as the partner of choice with global airline customers.

Nuvei logo (PRNewsfoto/Nuvei)

Euroairlines is a Spanish airline founded in 2000 and based in Castellón, Spain. In 20 years, Euroairlines has performed more than 2,000 flights to more than 200 destinations carrying more than 3,000 passengers. Euroairlines provides both cargo and passenger commercial and distribution services in Europe and northern Africa through a robust and low-cost solution.

Nuvei is supporting Euroairlines in launching its newly developed online B2B2C portal, which enables the airline to process direct traffic for the first time. Once the portal is launched, customers will be able to use aggregators to search and purchase Euroairlines flight tickets directly, without having to use an online travel agency. Nuvei is processing all direct transactions captured through the portal and enabling Euroairlines customers to pay using cards (Visa, Mastercard and soon American Express) as well as modern digital wallets such as ApplePay and GooglePay.

Euroairlines CEO, Antonio Lopez-Lazaro commented on the agreement: "Partnering with Nuvei aligns perfectly with our growth plans. Their agile payment technology is enabling us to add an additional revenue stream with the launch of our portal, and we look forward to continuing our collaboration and adding more payment methods in the future."

Through the UATP-Nuvei partnership, indirect traffic for Euroairlines will be processed via UATP One Merchant Services (Universal Air Travel Plan) for both BSP (Billing and Settlement Plan) and ARC (Airlines Reporting Corporation) transactions. Euroairlines adds to the growing list of airlines globally utilizing UATP One for processing services. 

Philip Fayer, Nuvei Chair and CEO commented: "We are excited to partner with Euroairlines to support the launch of their direct channel and process transactions from their indirect channel. Our collaboration is a step forward in optimizing their payment strategy and fueling Euroairlines' ambitious growth plans; and we are delighted to be a part of their journey." 

Fayer added, "The UATP One product is opening doors for Nuvei and UATP, and we look forward to continuing to grow our partnership."

About Nuvei 

Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the 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 50 markets, 150 currencies and 680 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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