The conference call will be webcast live from the Company’s investor relations website at https://investors.nuvei.com under the “Events & Presentations” section. An audio replay will be available on the investor relations website following the call.

The conference call can also be accessed live over the phone by dialing 877-425-9470 (US/Canada toll-free) or 201-389-0878 (international). An audio replay will be available approximately one hour after the call and can be accessed by dialing 844-512-2921 (US/Canada toll-free) or 412-317-6671 (international); the conference ID is 13737501. The audio replay will be available for two weeks, through Wednesday, May 24, 2023.

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 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.

For more information, visit www.nuvei.com.

For investor relations – NVEI-IR – visit https://investors.nuvei.com

Nuvei Investor Contact:

Chris Mammone, Head of Investor Relations

IR@nuvei.com

Sabre is offering Nuvei’s global reach and customizable, modular technology to provide its partners with a superior customer payments experience, wherever they operate. Nuvei’s unrivaled global acquiring reach maximizes card payment approval rates, accelerates revenue growth, and minimizes customers lost due to false declines. Nuvei is also enabling Sabre to offer over 600 alternative payment methods for its partners to integrate into their online checkouts, through a single integration.

Nuvei’s agnostic technology platform gives Sabre and its partners access to the leading payments solutions in every market through a single integration, with unified reporting and data visibility to maximize operational efficiency and enhance control.

Sabre is a leading platform technology provider supplying the travel sector with robust retailing solutions that help its partners operate more efficiently, drive revenue, and offer personalized traveler experiences. Sabre customers include many of the leading brands in the travel and hospitality industries including airlines, hotel chains, and travel agencies.

Sabre Senior Vice President – Product Management Corrie DeCamp commented on the announcement: “As a global technology company, the ability to partner with a premier payments provider that has the broadest possible reach as well as the flexibility and expertise to support our partners in regional markets is critical. Nuvei enables us to provide our partners with an industry-leading checkout experience regardless of their customers’ location, preferred payment method or currency.”

Philip Fayer, Nuvei Chair and CEO, added: “By offering the most agile payments platform in the market, including an unmatched number of alternative payment methods through a single integration, we’re enabling our customers to connect to their customers no matter how they want to pay. We continue to expand our use cases and penetrate markets with large TAMs, and further demonstrate how we accelerate our customers’ growth.”

This announcement is the latest from Nuvei as it continues to increase its influence revolutionizing payments in the travel sector. Many of the world’s predominant brands in travel, including Virgin Atlantic and Air Transat, have recently announced Nuvei as their preferred payments partner.

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 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.

For more information, visit www.nuvei.com

Contact: 

Public Relations

alex.hammond@nuvei.com

Investor Relations

IR@nuvei.com

About Sabre Corporation

Sabre Corporation is a leading software and technology company that powers the global travel industry, serving a wide range of travel companies including airlines, hoteliers, travel agencies and other suppliers. The company provides retailing, distribution and fulfilment solutions that help its customers operate more efficiently, drive revenue and offer personalized traveler experiences. Through its leading travel marketplace, Sabre connects travel suppliers with buyers from around the globe. Sabre’s technology platform manages more than $260B worth of global travel spend annually. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world. For more information visit www.sabre.com.

Contact:

Heidi.castle@sabre.com

Get it right, and you’ll grab attention and see the impact on business goals that directly benefits the company, including sales growth, more conversions, cost savings, etc.    

Fail, and all the hard work you put into your customer experiences will go unnoticed (and unanswered).   

So, what does a culture of experimentation look like?  

While you focus on turning visitors into paying customers, you need to think about:     

• If you want to a/b test across different devices, do you have the right tech and key metrics in place to enable it?   
• If you’re a/b testing across the enterprise, do you have a governance structure in place to measure results?   
• Do you have the right stats and results you can rely on?   

Initiatives like testing and optimization don’t happen in a vacuum – they’re surrounded by waves of other variables and insights. Here, it’s about testing your entire digital experience across different business units, devices and channels.    

So, how do you build a culture of experimentation?  

The key is having trusted measuring pillars you can rely on in your company culture.   

Here are six techniques you can use for brainstorming ideas when building a test and learn framework:   

Tip #1 Test the entire digital experience   

The goal of every digital experience is to create curiosity that motivates your visitors to take action. If you’re not using deep personalization methodology to build credibility and sell new products, you can do it by optimizing every touchpoint and connecting the dots to the buying stage.   

Tip #2 Optimize experiences on every device   

A good digital experience can adapt and impact user experience across devices. Segmentation can help you create experiences based on user needs. Focus on having the ability to easily make changes across platforms (web, mobile apps, single-page apps, TV apps, loT, voice apps, etc.) without requiring a developer.    

Tip #3 Make sound decisions quickly   

To run experiments, your tests should be data-informed to ensure the validity of your results and detect a difference at any moment. Using a Stats Engine and Stats Accelerator will help you increase testing velocity and improve the accuracy of results.      

Tip #4 Research + Data-driven marketing > Opinions   

The goal is to improve your conversion rate by optimizing each metric. However, prioritization becomes difficult if you only use opinions to discuss what to test in the short term. So, you need to continue iterating the need for data-driven decision-making. To support your hypothesis and eliminate subjectivity, make it easy for anyone to interpret results.    

Tip #5 Integrate with key systems   

For optimization, build experiments quicker, learn faster, and make swifter decisions. Your tools and team members shouldn't work in a silo. Use open APIs to build your perfect stack. They enable easy integration with your other systems so you can act on existing customer data.  

Tip #6 Accelerate success through best practices   

Best practices combine a shared vision and collaborative tools to implement experimentation and learning in your work environment. Digital experimentation is one part of optimization. Gather, track, and report on experiment results across the enterprise to assess the quality of your tests and business success.   

Conclusion  

Remember, Experimentation beats speculation. Bookmark these measures so it's handy the next time you're trying to foster a culture of experimentation.   

Even if you’re a small business with only a few stakeholders, think about these pillars as they'll be your future-proofing measures while running experiments. Try and see what works for you and let us know how it went!   

And if you still don’t have an experimentation culture, we can help you get started from scratch and achieve positive results. Optimizely analyzes millions of experiments monthly to identify new ways to optimize customer experiences.    

Get started here to run tests, uncover insights and let every customer interaction on your website take visitors to the buying moment.   

Cart.com customers will be able to enhance their payments through Nuvei for Platforms, Nuvei’s fully customizable solution that enables companies of any size to embed enterprise-level payments technology into their online operations. Nuvei for Platforms packages the complete functionality of Nuvei’s core modular platform, including merchant onboarding, pay-ins and payouts, optimization, payment orchestration, fraud prevention, risk management, and much more, all in a single seamless integration.

Cart.com is a provider of integrated eCommerce solutions that enable direct-to-consumer and business-to-business merchants from Fortune 500s to up-and-coming brands to quickly scale their businesses and easily sell across multiple markets. Commercial services available through the Cart.com platform include online store software, commerce analytics software, multichannel product listing and order management software, digital marketing and creative services, and fulfillment and storage solutions.

Cart.com Co-founder and CEO Omair Tariq commented on the announcement: “As a leading eCommerce solutions provider, we are focused on enabling our customers to compete and win across every channel through digital tools and digitally powered logistics capabilities. Providing access to the most advanced payments technology in the market through a simple and cost-effective integration is critical to fueling our customers’ growth. We know that payments are a critical part of supporting our customers’ financial performance and shopper experience, so we’re thrilled to be partnering with Nuvei to empower our customers to maximize their payment possibilities.”

Nuvei Chair and CEO Philip Fayer commented: “We’re excited to be partnering with Cart.com, one of the premier platforms driving the evolution of eCommerce. We have a shared belief that businesses of any size should be able to compete with the global eCommerce giants on a level playing field when it comes to the quality of their technology and payments solutions.”

Fayer added: “Nuvei for Platforms accelerates revenue for our customers by connecting their platforms’ online retailers with consumers through payments, wherever they are and however they want to pay. Enabling eCommerce platforms to integrate an enterprise grade payments solution optimizes the revenue generation potential of payments.”

The Nuvei for Platforms solution continues to accelerate Nuvei’s new business wins among marketplaces and platforms. Le Panier Bleu, Redeban, and VTEX are just some of the platforms that have embedded Nuvei for Platforms since the start of the year.

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 47+ 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.

For more information, visit www.nuvei.com

Contact: 

Public Relations

alex.hammond@nuvei.com

Investor Relations

IR@nuvei.com

About Cart.com

Cart.com is the leading provider of comprehensive ecommerce solutions that enable merchants of any size to sell and fulfill everywhere. Cart.com customers have access to enterprise-grade software, expert services, and logistics infrastructure to accelerate their growth Thousands of leading companies, from Fortune 500s to up-and-coming brands partner with Cart.com to access multichannel management software, software and data-enabled fulfillment services, commerce analytics, and marketing services and other ecommerce capabilities previously only available to the world’s largest companies. For more information, please visit Cart.com and LinkedIn.

Hurricane co-founder David Spottiswood and An Post Director of International Trade Cyril McGrane give a detailed insight into how the partnership works – including the various pain points that had to be negotiated – in the latest edition of Ian Kerr’s Postal Hub Podcast.

In the podcast, Cyril talks about the innovative approach An Post has taken in ensuring its services are best in class including investing in systems, facilities and AI-driven data.

As the podcast hears, the post has done this against the backdrop of ever increasing regulations, such as ICS2 second release, and the knowledge that non-compliance is no longer an option.

To listen to the podcast visit –

https://www.thepostalhub.com/podcasts/episode-301-an-post-international-parcels-hurricane

The post Hurricane data enables An Post to meet customs requirements appeared first on Hurricane Commerce.

Reynolds, who is globally recognized as a serial entrepreneur with an exceptional track record of investing in successful high-growth businesses, commented on the announcement: “I know about as much about fintech as I did about gin or mobile a few years ago. But Nuvei is impressive. The leadership team is exceedingly intelligent and hard-working and it’s about time a Canadian company got the type of attention American tech companies do.”

Reynolds’ latest investment comes less than a month after it was announced that Mint Mobile, the budget wireless provider partly owned by Reynolds, had been acquired by telecoms giant T-Mobile US Inc. for USD $1.35bn. Reynolds’ other high-profile investments include American Aviation Gin and Wrexham Football Club.

Nuvei is a global payments technology company that is dedicated to accelerating its customers’ revenue growth through payments. With card acquiring services in more than 200 markets, including direct local acquiring in over 47 countries, as well as access to more than 600 alternative payment methods, Nuvei connects eCommerce businesses with their customers wherever they are in the world and however they want to pay.

Nuvei entered 2023 with strong momentum, announcing its acquisition of leading B2B and Integrated Payments Technology provider Paya in the first weeks of the year and closing the transaction in February. Incorporating Paya technology and experts into Nuvei is creating a preeminent payment technology provider in Global eCommerce, Integrated Payments and B2B.

In addition to developing new use cases for its technology, Nuvei continues to expand geographically. The company has made significant strides to grow market share in both LATAM and APAC, including recently launching local acquiring capabilities in Hong Kong, Singapore, and Australia.

Nuvei Chair and CEO Phil Fayer shared his thoughts on the announcement: “We’re thrilled to welcome Ryan to the Nuvei family. We’re a global company but extremely proud of our Canadian roots and values, so to have one of the most internationally recognizable Canadians, as well as an entrepreneur with such renowned business acumen, join our investors is a privilege.”

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 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.

For more information, visit www.nuvei.com

Contact: 

Public Relations

alex.hammond@nuvei.com

Investor Relations

IR@nuvei.com

• Ad strategy
• Content creation
• Compliance
• Program growth

Feed management software lets automation bear the burden of listing and advertising across channels. What’s more, it’s become an absolute imperative for staying relevant, profitable and standing out against the competition  in the e-commerce industry. 

How Does Product Feed Management Software Work?

Product feed management allows you to easily transform your product content to meet the requirements of merchandising, marketing and advertising platforms; deliver that data in a variety of formats and track the success of feed delivery. Basically, you can collect your product content once, then optimize it for every destination. 

A data or product feed is a digital file (typically .XML, .CSV or .TXT) that includes product titles, descriptions, pricing, images, URLs and more while filtering for inventory levels. Feed management even allows you to enrich your ads with more detailed descriptions and employ rules to easily filter content. 

Automated product management software typically uses an application programming interface (API) to integrate and communicate directly with an ad platform, marketplace or channel like Amazon, Google or Meta (Facebook & Instagram). Any changes you make are quick, accurate and updated in real time.

As a result of using feed management software, you benefit from:

• Increased product visibility
• More informed and satisfied customers
• Improved ROI, ROAS and impression share
• Saved time
• Increased control and error awareness
• More competitive listings
• Informed, data-driven decision making

Equally important, product content feeds ensure your listings are approved so your products actually sell. They ensure your product content stays visible to the most relevant audiences and search terms that consumers are using. That way, you never waste time or money on your sales or ad tactics. You can send product advertising content across search, shopping, social and retail media sites for promotion. Not only does this alleviate strain on your technical resources, but it increases the likelihood of conversion with cleaner, more accurate product content.

Product feed management can support e-commerce merchandising and consolidate your marketing needs as well. With data feeds in one place, you also have greater agility to expand to more channels, grow your business and mitigate risk. 

What Are Common Pitfalls of Feed Management?

Proper product content and feed management is critical for e-commerce success. Yet, many businesses, regardless of size or vertical, fall prey to the same common pitfalls. Some come from the lack of resources and expertise available to these companies, while others emerge from a siloed approach to product content syndication. 

Manual feed management pitfalls typically include:

• Settling for “good enough” — Simply meeting channel requirements instead of fully optimizing for high performance

• Using a “set it and forget it” mentality for listing titles — Using the same structure for all product titles or failing to update based on performance

• Not accounting for channel variations — Using your Google Shopping feed for everything instead of tailoring content and imagery to the channel (e.g., striking photography for Instagram)

• Failing to showcase discounts — Not highlighting promotions, thus forfeiting higher click-through rates 

• Isolating feed and advertising teams — Prohibiting collaboration between data and ad teams, leading to delays and misunderstanding

• Wasting time and money — Failing to automate feed delivery for much-needed agility and accuracy

Automated feed management software is the answer to all of these problems because it helps you manage, monitor and optimize feeds across channels without sacrificing time or accuracy.

How Do You Choose the Best Feed Management Software?

Not all feed management software is created equal. Here’s what to look for as you evaluate. 

Usability

Product content feed software should make your job easier, not harder. Look for digital feed management tools with a clean, intuitive user interface and workflow automation that’s easy to use. 

Channel Integrations

Does the solution export product feeds to the channels and ad platforms that make the most sense for your brand? Look for platforms that not only integrate with giants like Google and Amazon, but niche and international channels that enable your future growth. 

Beyond technical requirements, the best feed management services also have deep relationships with their channel partners. By choosing a well-established platform, you benefit from channel-specific knowledge and guidance. 

Features

Look beyond basic feed management and channel integration. Does the tool allow you to optimize your feeds to meet the requirements of each platform while improving performance over time? Choose a solution with features like product content feed optimization, easy exporting, personalization tools and automation capabilities. 

Services and Support

Don’t get left in the lurch when the market vastly changes or you need help managing your feeds. Look for a provider that offers helpful support, an extensive knowledge base and strategic guidance from industry experts when you’re ready to grow. 

Which type of feed management solution is best for your organization? Take the questionnaire to find out. 

Transform Your Product Feed Management with ChannelAdvisor

For over 20 years, ChannelAdvisor, an CommerceHub company, has been transforming product content with automation, seamless integrations and channel-specific attention to detail. We help you optimize your product content at scale so you can move faster, sell smarter and expand further. 

Here’s how we do it:

1. Data integration. Your product content is integrated into ChannelAdvisor or accessed remotely.
2. Delivery strategy. We work with your team to ensure the data is in the right format for the targeted destinations and create the delivery strategy.
3. Data processing. Your optimized product data is evaluated to ensure richness of content and compliance.
4. Processing. Once verified, content is delivered to the defined destinations.
5. Delivery audit. An audit of delivery is performed to prevent any errors.

Plus, our integrations and deep partnerships with hundreds of global channels means you have the compliance and know-how to win everywhere you sell. Need help? Our Managed Services team helps you improve your performance and grow your business with industry expertise. 

Contact us today for a demo of the ChannelAdvisor platform. 

The post Gather Once, Optimize Everywhere with Product Content Feeds appeared first on ChannelAdvisor.

Hurricane Commerce is part of a unique strategic partnership with Pro Carrier, the eCommerce logistics expert, and customs software specialist AEB SE, bolstering cross-border logistics and significantly reducing hold rates for online retailers with improved customs processes.

The collaboration between the three companies combines the best in shipping and delivery, data and technology, and customs management processes and has been developed in response to the heightened restrictions and checks introduced at borders for UK distributors shipping into the EU and those sending products into the UK. The new partnership has already resulted in a drastic reduction in the number of parcels held at Customs for Pro Carrier’s eCommerce retail customers.

This new partnership builds on Pro Carrier’s work with Hurricane over the past 18 months, providing accurate client data, cleansed utilising Hurricane technology, to enable Pro Carrier to meet delivery service level agreements without delays. The integrated system allows Pro Carrier to share the live progress of customs clearances in one system – central to the success of eCommerce businesses and further underpinning the success of its B2B and B2C offerings.

This is the first time that Pro Carrier has also partnered with AEB utilising its technology to drive efficiency in customs clearances, resulting in quick, easy custom engagement for retailers across Europe. This has enabled Pro Carrier to provide clients with an unmatched assurance of their product arriving on time and in full.

By collaborating with Hurricane and AEB, Pro Carrier has gone from having 30% of parcels held in peak 2021 to sub 1% in peak 2022. This has given customers confidence and assurance that their products will arrive on time.

Following a successful Peak in 2021, Pro Carrier incorporated a B2B clearance offering while streamlining and maintaining a B2C technical system in an easy-to-use platform developed with Hurricane’s technology. This helped overcome the issue of Customs blockages for high-volume customers – and ensure packages reached the final-mile delivery partners in line with delivery agreements.

Ahead of November’s Peak in 2022, Pro Carrier enhanced its carrier platform further so retailers could better manage and track its Customs processes across Europe by incorporating an additional offering using AEB’s customs management platform.

Pro Carrier, Hurricane and AEB will be developing their unique partnership with future collaborative initiatives utilising the technology and data driven approach to Customs clearance, providing opportunities for retail customers to scale businesses and move into new countries and markets.

Guy Fischer, managing director, Pro Carrier, said:

“Pro Carrier’s partnership with Hurricane and AEB is already creating huge advantages for clients sending products into the EU. Going from 30% of parcels held in Peak 2021 to sub 1% in Peak 2022 is a testament to the combination of clean, accurate data vetted by Hurricane and the streamlined technical management system from AEB. At Pro Carrier, we’re performing above the market standard for Customs clearances – something other providers struggle to offer.”

Following this immediate and significant success, we’re looking forward to rolling out further initiatives this year which have only been made possible through our partnership with Hurricane and AEB.”

Martyn Noble, chairman and CEO, Hurricane said:

“Strengthening our existing relationship with Pro Carrier, and working closely with AEB, has combined individual expertise to develop an end-to-end process for retailers – making it more streamlined and fit for purpose. Using Artificial Intelligence, we can play a key role in ensuring products move through Customs clearance as quickly as possible.”

“Due to this partnership and the implementation of these systems, Pro Carrier now has access to a continually updated and accurate data set to track parcels and capture the volume of customs holds in each destination country. In 2022, Pro Carrier saw just 0.12% of parcels held in Customs throughout the busiest period of the year.”

Geoff Taylor, managing director, AEB, said:

“We’re very proud of our work with Pro Carrier and Hurricane. Our partnership has resulted in a unique integrated system which manages Customs clearance data and tracks Customs progress across European borders and is already having a significant impact for Pro Carrier’s retail clients. The AI data cleansing, made possible through Hurricane, was invaluable and enabled AEB to automate customs clearance. We’re looking forward to seeing what we can achieve in the future through our combined expertise.”

The post The Unique Partnership Transforming Cross-border Shipping appeared first on Hurricane Commerce.

Late last year, I had the privilege of taking over as the CMO of Optimizely. And a strong end to March was a great way to celebrate six months in the role. We delivered what I would consider to be an amazing 1-2 punch. Gartner® has recognized Optimizely as a Leader in both the Magic Quadrant™ for Digital Experience Platforms (DXPs) and the Magic Quadrant™ for Content Marketing Platforms (CMPs). It's an exciting time for the world of digital experience and content marketing, as we see these two categories coming closer and closer together (Gartner even released the reports on back-to-back days)!  We believe this recognition is unparalleled and demonstrates Optimizely's unwavering commitment to product innovation and outstanding service, propelling us to the forefront of the industry.  

This data is available in Nuvei’s latest whitepaper Payment Orchestration: A practical guide to optimizing payment performance. Nuvei partnered with Edgar, Dunn & Company (EDC) to survey over 100 international businesses across a variety of verticals that sell online to consumers.

Capitalizing on the benefits of the multi-vendor model

In an increasingly complex landscape, more than half (54%) of online businesses are now using at least six payment providers to optimize their checkouts as they look to scale into new markets, win new customers, and grow revenue. A third (33%) have direct acquiring relationships with at least five banks.

The rise of this multi-vendor model is a direct result of eCommerce businesses understanding that there is a real opportunity to accelerate growth. Harnessing the power of best-in-class payments technology in every market they operate, and for every relevant payment method, is critical for businesses to optimize their payments performance.

But businesses are also aware that a lack of coordination and optimization of these complex set ups may have a negative impact on their revenues as well, including permanently losing customers. The research shows that 59% of businesses believe that customers who have experienced a false decline will not give businesses a second chance. It also shows that alternative payment methods are becoming more important to eCommerce, with only 23% of online businesses’ checkouts now have three available payments methods or less.

Understanding Payment Orchestration

There is a clear role for payments orchestration in providing the control online businesses need to effectively optimize their backend payments flow. Without Payment Orchestration businesses are unable to set specific and intricate rules for payments acceptance to boost conversion and revenue, and they also do not have full visibility of their performance with which to make informed decisions.

This is evident in the whitepaper research. Businesses told Nuvei they have a variety of specific motivations for implementing a Payment Orchestration solution, including a reduction in the cost of payment acceptance, greater efficiency internally, and a wider acceptance of more payment methods. Many merchants intend to optimize payment conversion with smart routing capabilities to increase revenue.

Nuvei’s practical guide helps eCommerce businesses implement and get maximum value from their Payment Orchestration Platform (POP). When integrated effectively, Payment Orchestration can enable businesses to improve their overall payment performance through enhanced efficiency, security, flexibility, and scalability.

Nuvei Chair and CEO Philip Fayer commented on the research: “Our mission is to connect our customers to their customers, wherever they are and however way they want to pay. Offering an industry-leading Payment Orchestration Platform is critical to doing that successfully. It is clear from our research that more and more businesses recognize the need for orchestration, but also that many are still struggling to understand what this means in practice. This whitepaper provides excellent insights into implementing Payment Orchestration effectively.”

Peter Sidenius, Edgar, Dunn & Company CEO, added: “It is key for businesses to manage payments efficiently as it is the last step in the purchase process. Payments have become increasingly complex, especially for businesses with various subsidiaries, operating in multiple geographies, selling in different currencies and offering different payment methods. Payment Orchestration is considered by an increasing number of businesses as the solution to retain control of their payment stack. It is a major driver to generate additional revenue, optimize payment acceptance cost and increase operational efficiency.”

Download Payment Orchestration: A practical guide to optimizing payment performance here.

Methodology

Edgar, Dunn & Company conducted the research in Q4 2022 and in early Q1 2023. This involved conducting primary and secondary research, including the completion of in-depth interviews with large multinational B2C businesses. A survey was also conducted at the beginning of 2023. The survey has been administered online to more than 100 international businesses that sell online to consumers with a sample of respondents working in the finance, payments or commercial fields. The questionnaire included a mix of pre-qualifying information, multiple choices, and open-ended questions regarding their experiences and views on the topic of Payment Orchestration. All data was collected anonymously.

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 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.

For more information, visit www.nuvei.com

Contact: 

Public Relations

alex.hammond@nuvei.com

Investor Relations

IR@nuvei.com

About Edgar, Dunn & Company

Edgar, Dunn & Company (EDC) is a global consultancy specialising in payments and financial services. Since 1978, we have partnered with clients across the globe and developed an unrivalled depth in specialist expertise. We offer a truly independent voice and have never accepted a referral fee or commission from any vendor. Our vision is to be the most trusted global payments consultancy.

Today, we serve clients in over 45 countries through our global office network in North America, Europe, Middle East and Australia. https://edgardunn.com/

Contact:

gregoire.toussaint@edgardunn.com

Businesses that are thriving today understand the growing importance of strengthening their e-commerce capabilities, especially in areas like unowned inventory models that can drive growth with limited investment. A digital strategy that leverages new approaches and data-driven insights to flexibly meet consumer needs through unowned inventory and enhanced delivery and fulfillment can help retailers adapt and achieve success despite the pressures they face. And brands can access new demand channels and expand the reach of their products.

Retailers can find success by expanding product assortment based on intelligently predicted consumer demand, desired customer experience, and operational resources that are aligned to meet growth objectives.
As a result, consumers get a better product selection that is more attuned to what they want right when they want it, while retailers improve profitability and avoid overcommitting in a resource-constrained environment.

With the proliferation of online shopping channels that offer consumers more options for when, where, and how they shop, it is now even more important for retailers and brands to reach consumers wherever they might be at any given moment, along with the right message to convert them into customers. For brands, capabilities like effective marketplace management, shoppable media, digital marketing, and brand analytics are must have components of an effective e-commerce strategy.

In the future, the world of commerce will look fundamentally different.

• Point products and homegrown IT systems will be replaced with comprehensive solutions that enable retailers and brands to grow their e-commerce businesses with agility, flexibility, and profitability.
• Brands will have unfettered access to every channel in the world that can provide them with demand.
• Fulfillment providers will gain efficiency by leveraging an extensive commerce network for insight, and retailers and brands will benefit by getting better, faster, and less expensive service.

Together, CommerceHub and ChannelAdvisor—a CommerceHub company—offer one of the world’s largest commerce networks and solutions connecting supply, demand, and delivery for retailers and brands globally. Contact us today to learn more about how ChannelAdvisor and CommerceHub are working every day to create the future of e-commerce with tens of thousands of businesses in our network.

And be sure to download a complimentary copy of eMarketer’s new Global Retail E-Commerce Forecast report for the outlook through 2026 and expert analysis to help you plan ahead for this year and beyond. This analyst report looks at:

• The top 10 e-commerce markets, and which countries are in a growth slump
• Trends driving the narrowing gap between e-commerce and overall retail sales
• Tips to fine-tune expectations and identify unexpected growth hotspots

The post E-Commerce is Changing: Reducing Friction and Increasing Agility are the Key appeared first on ChannelAdvisor.

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With so much emphasis on how we can use tests and data to make incremental improvements to our website, we’ve spent the early months of the new year focusing relentlessly on how we can help our customers run their programs quickly and efficiently.  

That means delivering new capabilities that improve collaboration and increase experimentation velocity — with features like Component Trackers, Google Analytics 4 Integration, Statistical Significance Notifications, and more.   
 
Read on for more information, and to get a sneak peek at what’s coming soon in Q2 (or, in case you missed it, check out our recent product roadmap webinar)!

Component Trackers 

Maintain a birds-eye-view of your experiment usage 

Improving the allocation of time and resources while maintaining governance and existing housekeeping processes requires the ability to easily track reusable components — such as pages, audiences, events, and extensions — used within your instance of Optimizely Web Experimentation.  
 
Introducing Component Trackers. Using this new capability, you can:  

• View which Pages, Events, Extensions, and Audiences are used in an active or paused experiment 
• Determine whether collaborators can safely archive components 
• Avoid the possibility of using conflicting components in an experiment, eliminating the risk of data inconsistencies 

For more information, check out this article. 

Mutually Exclusive Experiments 

Now available for Performance Edge 

Experiments can sometimes interact with each other in undesirable ways if/when a user is bucketed into more than one group. 

Now available in Performance Edge, you can create exclusion groups that contain experiments to indicate that a visitor should not be included in more than one of the same experiments within that particular exclusion group. Ultimately, this allows teams to run more experiments concurrently — with a higher degree of confidence.  

For more information, check out this article. 

Google Analytics 4 Integration 

Seamlessly integrate and track your experiment data within GA4 

Google Analytics 4 is the new recommended version of Google Analytics. It helps businesses evolve their analytics standards – such as measuring more user-centric data, predicting new insights with machine learning, and more. And, as of July 1, 2023, Google Analytics will officially replace Google Universal Analytics.  

With that date fast approaching, Optimizely is excited to announce an all-new, out-of-the-box connector. Requiring just the click of a button to connect the two systems, Optimizely Web Experimentation users can now integrate with Google Analytics 4 to send their experiment data to Google, create custom segments, and more. 

For more information, check out this article, and be on the lookout for additional enhancements for this integration soon!  

UX Delights 

A suite of enhancements to make your Optimizely experience a delight 

Descriptions for URL match types: add more details for URL match types, to better understand what each type is, and set up your experiments for success 

SPA Support Updates: additional in-app messages/warnings to indicate additional steps are required when a page that requires SPA support is chosen 

Acknowledge ‘Save’ button: within Integrations, the ‘Save’ button is now grayed out after settings are updated to better indicate a response 

'Description’ for an archived experiment: a new description field under the experiment name offers context to remind team members why certain tests were built  

Above are just a few of our favorites. For more information on recent releases, visit the support site. 

Beta Spotlight: Statistical Significance Notifications 

Real-time updates to help you increase experimentation velocity 

Monitoring experiment results can be time-consuming — it requires logging into your app and manually viewing each experiment's results page.  

With all-new notifications for statistical significance, users can opt-in to receive automated email alerts that indicate when any metric in any variation in an experiment reaches statistical significance — ultimately helping to accelerate productivity and experiment velocity. Users can also be confident in their experiment launches knowing that if a monitoring metric reaches statistical significance – oftentimes an unanticipated event, like a significant increase in bounce rate – that they will also be alerted in case intervention is required. 

For more information, check out this article. Or, if you’re interested in getting early access to the beta, please reach out to your account manager. 

That’s it for Q1! We’ll be back soon with another round of product updates just for you. 

P.S. Have an idea for a new feature? Don't forget to use this feedback link! Talk with your Customer Success team to learn more. 

We are very excited to announce deeper integrations – leveraging the advanced workflow and collaboration properties of CMP for enhanced Experimentation Collaboration, and the powerful personalization and real-time segmentation capabilities of our Customer Data Platform for more targeting and personalization capabilities with less developer overhead in Feature Experimentation. 

These advanced Personalization and Collaboration tools are a step change in the scope of what can be achieved with experimentation – leading to better optimized personalization and more streamlined workflows for growing experimentation teams. Read on for more info... 

Advanced Audience Targeting  

A step change in personalization optimization 

Available with Feature experimentation later this quarter, in two flavors:  

CDP Connect - for customers with an existing third-party CDP who wish to align their existing audience segmentation with Feature Experimentation.  

Full CDP – This feature add-on brings Optimizely’s native Customer Data Platform into Feature Experimentation in a seamless integration designed to provide all the tools you need to experiment and release to highly customizable audiences and real-time segments. 

Currently in Beta (click here to explore our beta programme) and scheduled for general release at the end of June. 

Use cases include:  

Release features or experiments to targeted groups i.e beta testing, geo-targeted, transaction criteria such as spent per period and frequency of spend.   

Real-Time Segments to Feature Personalization – Personalise specific features to specific user groups, automatically identified even if the user is not in a logged-in state. A powerful tool for customers looking to leverage personalization dynamically, with the power to experiment on the fly. Examples include automatically turning certain features on/off per geo-location or customer profile group such as motorbike owner/car owner, male/female, SINK/DINK/Family. 

Private Beta – until April 23’ – Join the Beta programme 

General Availability – June 1, 2023 

Multiple Experiments per Flag 

Un-Limit your Experimentation Velocity 

With Multiple Experiments and Deliveries per Flag, you can seamlessly run experiments, gain valuable insights, and roll out winning variants – all without needing a developer after the flag is implemented and tested. 

• Run more than one experiment and one targeted delivery at a time
• Release multiple versions of a feature to different audiences at the time same, all using the same flag. 
• Supercharge your ability to personalize features at scale

Flag and Rule Scheduling 

Don’t wake up early to turn a flag on... 

With multiple teams involved from Marketing, Product and Engineering – orchestrating new releases can be a challenge to execute and often leaves people responsible for making manual updates and inconvenient times.  

• Schedule progressive deliveries
• Time a feature launch
• Schedule traffic allocation percentages 

Create limited time access rules 

Secure Environments 

We’ve long offered authenticated datafile access via our REST API, and we now offer additional security with the ability to disable public access to datafiles on our CDN.  

Secure Environments enable Feature Experimentation customers to protect their datafiles from unauthorized access. This feature enables server-side SDK implementations to make end-to-end authenticated API calls to fetch data files securely and disables public access to datafiles for added privacy.  

Read the tech docs here.

Going forward, these recaps will be delivered straight to your inbox at the start of every quarter, helping you stay up-to-date on the latest CMS capabilities and explore what's new.  

Read on to learn more, and as always, don't hesitate to reach out to us or your partner with any questions or feedback.  

Optimizely a 4x Gartner DXP Magic Quadrant Leader! 

Gartner named us a Digital Experience Platform (DXP) Magic Quadrant Leader (shown below) AND a Content Marketing Platform (CMP) Magic Quadrant Leader! Read the DXP report here and the CMP report here.

Thank you to our wonderful customers for your continued support. We couldn’t have done it without you. 

And btw, if you’re curious about our CMP, Optimizely CMS customers can sign up for a free trial here!

Take advantage of all CMS has to offer 

In Q1 we delivered the following new features, now available in the latest version of our CMS.  

To take advantage of the Optimizely roadmap and all our new product innovations, CMS customers must be on the future-looking CMS 12 version.  

It’s just one reason why Optimizely customers are choosing the upgrade path. Here are six more. Contact your account manager to learn more. 

GraphQL API 

Deliver more dynamic content experiences 

GraphQL is a query language that developers can use to search and deliver content anywhere, enabling more dynamic content experiences. Our new GraphQL API further extends the capabilities of our best-in-class CMS by enabling flexible content delivery across channels and applications: 

• Easily reuse content from your website to build native applications—such as a mobile app
• Provide highly customized search experiences for site visitors, increasing the chances that they find the content they’re looking for, fast
• Create dynamic content blocks, such as a “Related Articles” content block that displays the five most recent articles that have the same tag or content type as the article a visitor is currently viewing  

We introduced our GraphQL API in Beta last year, and we’re now making it available on a limited basis in select regions. Contact us to learn more.  

New dashboard experience 

Track your work & maximize productivity 

The new homepage dashboard makes it easy to manage day-to-day tasks. Click on the Dashboard tab in the top navigation menu to see an overview of pending items in your workflows and quickly home in on content that needs your attention.   

• See the pending status of content as part of workflows (In Review, Approved, Scheduled, Rejected)
• Quickly find and fix broken links via the Broken Links report
• Filter by the user to see the status of your own workflows, or your entire team’s  

The CMS Dashboard is available in CMS 12 and works with multi-channel content as well as web-only content.  

Learn more about managing content in the CMS.  

TinyMCE upgrade 

Take full control of your editing tools 

We have upgraded to TinyMCE 6, so you can use any premium plug-ins you like across all the editing tools you use in your organization, including your CMS editor! Customize your editor and keep the same editing experience no matter where you’re working.  

Learn more about the editor upgrade.  

That’s a wrap on Q1! If you have an idea for a new feature or how we could improve our product, please share your feedback! We’re always happy to hear from customers. 

At Optimizely, our focus is on building commerce products and features that help you deploy personalized and unique buying experiences that engage shoppers, increase conversions, and deliver exceptional customer satisfaction. 

Today, we’re excited to deliver updates on key product releases that help streamline customer reordering with Vendor Managed Inventory (VMI) and create even more personalized engagement with Product Recommendation Extensibility that increases revenue and grows wallet share. 

Now, let’s take a look at our Q1 Commerce releases and share more on our roadmap: 

New Under Configured Commerce  

Vendor Managed Inventory (VMI) (Beta) 

Streamline digital ordering and improve retention 
Now available in Beta, Vendor Managed Inventory (VMI) allows you to go on-premises at your customers’ warehouses, or enable your customers directly, to capture inventory and place orders using Mobile barcode scanning. Using VMI, you streamline order replenishment, improve order accuracy, and use digital desktop and mobile inventory solutions to increase order efficiency. 

Optimizely’s VMI Beta includes: 

• Desktop and Mobile App VMI access for program configuration  
• Configurable VMI Locations 
• Mobile Replenishment via barcode scanning with automatic order suggestions
• Advanced Inventory Reporting to track slow and fast-moving product  

If you’re interested in learning about VMI or would like to participate in our Beta, reach out to your customer success representative directly. 

Product Recommendation Extensibility  

Convert more shoppers by improving personalization 

With Product Recommendation Extensibility, you’re able to integrate 3rd party recommendation logic with Optimizely’s product recommendation engine to unify your personalization data and create more effective shopper experiences that increase conversions and grow revenue.  

If you’d like to learn more about Product Recommendation Extensibility, check out our documentation here, or reach out to your Optimizely customer success representative.

More From Optimizely’s Product Team 

Gartner® names Optimizely a 4x Leader in the 2023 Magic Quadrant™ for DXP 
We’re excited to announce that we were recently named a Leader in Gartner’s 2023 Magic Quadrant for DXP. Learn more about our placement as a leader in 2023 and our recognition as a 4x Gartner Leader here.  

Q1 Roadmap Webinar 

Our recent Spring roadmap webinar debuted upcoming product releases for Optimizely alongside a summary of Q4 launches. If you missed our roadmap overview session with Optimizely’s Commerce Product and Product Marketing team, you could view our session here. Stay tuned for an upcoming roadmap session streaming later in the summer. 

View Optimizely’s Product Roadmap for Commerce 

Additionally, we’ve published our full Q1 roadmap on our website. Here, you can review which features we’ve committed to, planned, and considered. This page can be found by accessing our Configured or Customized Commerce web pages.

  
Have feedback or want to test a beta product? Let’s chat! 

Thank you to our wonderful customers for your continued support. We couldn’t have done it without you. 

Now back to regularly-scheduled programming: what we shipped in Q1! 

Generate Images with AI 

Your ideal image, in seconds. 

In what seems like magic, users can save time and creative resources by simply typing a prompt, and letting AI generate the image they’re looking for. 

Learn more 

Smart Focal Points for Image Renditions 

No more wonky crops. 

 
Check “Enable Smart Focal Point” for AI to automatically detect the subject of an image when generating image renditions. 

Learn more  

Campaign Milestones 

Improve visibility by grouping tasks together within a campaign to create milestones. 

We released and made improvements to Campaign Milestones in Q1, allowing maximum flexibility (drag-and-drop the diamond to automatically shift task dates) and visibility (view milestones on a visual calendar). 

Learn more 

Workflow Board View 

Visualize tasks by workflow, Kanban style. 

This enables users to view all tasks and their current steps using a specific workflow. Why? It helps users visualize where work is getting blocked or what task needs updating. 

Learn more 

Microsoft Teams Connector 

Stay on top of your CMP to-dos. 

Receive notifications, alerts and deadline reminders directly to your Teams app so they don’t get lost in your email. (We’ve all been there.) 

Learn how to get access here 

UX Delights 

15+ updates to *delight* CMP users. 

React to comments with emojis: Acknowledge a comment without needing to write a full response. 💗  

Boolean search: All search bars now support AND, OR and exact match (using quotes) to more accurately find what you’re looking for. 

Copy Work Requests: Reuse work requests (and make changes if needed). 

Rearrange content in the Content tab: Drag and drop the order of content in the Content tab so the most important content is shown first. 

Collapsible workflow panel: Make more room for collaboration! Collapse the right-hand panel to give more space to work in the brief, content tab, etc.   

These are just a few of our favorites. Find January’s full list of user experience updates here and February’s updates here. 

Q2 Sneak Peek 

Authoring and publishing from CMP to CMS. 

CMS 12 users will soon be able to benefit from the CMP features we all know and love: visual calendars, marketing work requests, collaborative content editors, and more - and then seamlessly publish to Optimizely’s CMS. *Reach out to your account rep for more information. 

Plan. Collaborate. Experiment. 

Experiment planning, ideation, and collaboration come alive in the CMP for Optimizely Experimentation customers. *Reach out to your account rep for more information 

Adobe Creative Cloud + CMP Library = A simple way for creatives to collab  

This integration allows designers to browse, open, and update Library assets from within their own Adobe tools, including Photoshop, InDesign, Illustrator, Premiere Pro, and After Effects.  

*To learn more about this premium integration, please reach out to your account representative. 

That’s it for Q1! We’ll be back soon with another round of product updates just for you. 

P.S. Have an idea for a new feature? Don't forget to use this feedback link! Talk with your Customer Success team to learn more. 

The partnership with Hurricane – a global data partner for postal operators, online retailers, eCommerce platforms and carriers – aims to support the international growth ambitions and compliance requirements of Intersoft’s clients, including some of the UK’s largest retailers and brands.

The announcement is particularly timely given the implementation of new import control regulation which came into effect on March 1, 2023. Import Control System 2 (ICS2) requires complete and accurate advance electronic data sets for all shipments coming to or via the European Union by air including a mandatory HS6 code.

Intersoft has integrated Hurricane software solution to cover the four pillars of data enhancement: duty and tax calculation, prohibited and restricted goods screening and denied parties screening. The Hurricane landed cost engine calculates the duty rate, tax rate, duty payable and tax payable in the currency of the sending or receiving country.

James Thomas, Managing Director of Intersoft, said: “Our carrier management platform constantly adapts to eCommerce challenges and this partnership is a vital addition to our offering. It will give Intersoft customers peace of mind when shipping internationally.

“The ability to use Hurricane’s generated HS codes within our label production means customers will have one less obstacle to overcome. The integrity of data matters, and with Hurricane’s intuitive AI constantly learning from its users, we can integrate that data in a seamless way.”

Rob Dundas, Hurricane’s Business Development Director, said: “By integrating Hurricane’s solutions, Intersoft is supporting its customers in ensuring compliance with regulatory events such as ICS2 which is a vital part of any international growth strategy.”

The announcement comes after the success of Intersoft’s solutions for customers using Royal Mail’s Pro Shipper platform. Intersoft is a wholly owned subsidiary of Royal Mail.

The Hurricane integration is available through Intersoft’s API from April 3rd 2023.

The post Intersoft partners with Hurricane Commerce for seamless cross-border HS code provision appeared first on Hurricane Commerce.

In conversation with host Tom Mueller, they discussed in depth how the continuing growth in global eCommerce has increased the need for everyone in the supply chain to ensure that their shipment data is complete, accurate and compliant.

Various regulatory events including the US STOP Act, ICS2 and the Import One-Stop Shop (IOSS) have intensified the requirement for the provision of the best possible data.

But as David says: “A customer recently told us it’s not about various events and dates, it’s about the challenge of keeping on top of the growing demands for data.”

Martin commented in the podcast: “Goods are not really delayed, it’s the data associated with the goods that causes the delays.”

As a result of partnering with Hurricane, some customers have improved their data accuracy from around 28% to over 90%.

Harnessing AI-driven, real-time data solutions to achieve accuracy and speed in the modern world of cross-border eCommerce is vital given the high volume of shipments involved in transportation.

Hurricane was invited to take part in the podcast because it is a partner to PEN-CP, part of the European Union’s Horizon Project.

You can listen to the PEN-CAST podcast in below:

The post Customs clearance and the importance of getting the data right appeared first on Hurricane Commerce.

The Australian ecommerce market continues to thrive in the post-pandemic era, with consumers spending twice as much when they shop online versus in a physical store. With over 90% of Internet users making online purchases, Australia’s ecommerce market was valued at AUD 47 billion – with an 8.9% growth –  in 2022. With these figures only set to rise over the next few years, understanding and optimising the way Australia’s consumers pay is more crucial than ever.

For those businesses looking to expand their businesses internationally, Australia is a great place to start. A sizeable majority of online consumers – 61% – have shopped cross-border, making for a total market value of  AUD 4.2 billion. The growth in popularity of online shopping worldwide stems from its ease and convenience, factors that rely heavily upon a seamless checkout experience. Australia is no different, and merchants need to ensure they choose a payments platform that can provide local acquiring to see success in the region.

Australia’s favorite ways to pay

Card remains the most popular payment method, with 50% of all ecommerce transactions taking place via debit or credit card. Digital wallets are also on the rise and are used in 33% of online payments.

Online card payments are set to be a permanent fixture for the foreseeable future in Australia, making it essential for merchants in the region to use a payments platform that can provide local acquiring to ensure accelerated sales and boost customer satisfaction.

Despite Australian consumers’ preference for card payments, it’s important not to brush other payment methods under the rug. For example, New Payments Platform (NPP) – Australia’s Account-to-Account fast payments open access infrastructure – has processed over 1 billion transactions worth more than AUD 1 trillion in the past year. In addition, there’s been a steep increase in the use of Buy Now, Pay Later (BNPL) brands such as Afterpay and Klarna, with 30% of the adult population holding an open BNPL account.

Merchants should be looking for a payments platform that provides an all-rounded solution that prioritises the consumer experience through payment optimisation.

Local acquiring: why it pays off

The significance of choosing a payment provider that has local acquiring and other cutting-edge services available in Australia should not be underestimated by merchants, who could gain a considerable competitive advantage in the following ways:

1. Increasing the number of approved transactions. Routing transactions through a local bank, such as Commonwealth Bank of Australia or National Australian bank, will lead to higher authorisation rates. This is largely due to the higher rates of fraud that occur when making international transactions, resulting in banks declining payments. Inevitably, declined payments will more-often-than-not result in consumers shopping elsewhere, thus incurring financial loss for merchants.
2. Avoiding cross-border fees. When the consumer’s issuing bank and the merchant’s acquirer are in different locations, it results in an increase of transaction fees. Businesses could be charged an additional 1.4% per transaction, depending on variables such as currency and card issuer. In addition, consumers could be charged a foreign transaction fee (between 1%-3% of the purchase value) when they use their card abroad or pay for something online from a foreign merchant. The AUD is currently in a healthier position than the EUR, USD, or the GBD, so consumers expect to be able to pay in their own currency without fearing additional costs.
3. Improving the customer experience. Working with a local acquirer could mean fewer hidden fees for the consumer, and, therefore, a more predictable, seamless checkout experience. Moreover, since local acquiring can ensure higher acceptance rates, this could also drive customer loyalty and trust, encouraging consumers to make more purchases in the future. With the average Australian consumer spending AUD 228 per week online, customer satisfaction should be the top priority for merchants seeking accelerated sales in the region.

Australia’s ecommerce market is growing at a rapid pace, and with that comes higher customer expectations, particularly when it comes to payments. Choosing a payments platform like Nuvei, which has a strong presence in the region, will optimise operating costs, boost conversion rates by maximising payments acceptance, and enhance the overall payment experience.

In addition, businesses should ensure that their payment technology provider enables them to accept all relevant payment methods in the region – including local currencies for cross-border transactions – apart from card acquiring. This is also true for Australian businesses looking to expand to new regions. As a global payments provider, Nuvei can provide support for local Australian businesses as they grow, empowering the expansion of ecommerce internationally.

To sum up, Australians prefer to shop online, and merchants can use this to their advantage by selecting a payments provider who prioritises customer growth on both a local and global scale.

This article was originally published in The Paypers. 

ePost Global has been successfully using Hurricane’s Zephyr solution to ensure items being shipped from the United States have the correct Harmonized System (HS) code for import and export, allowing for a smooth passage through customs.

Now ePost Global is preparing to begin offering Hurricane’s Aura solution to its eCommerce customers enabling correct duty and tax calculations for goods shipped through commercial networks into Canada.

The company is further planning to roll out this duty and tax calculation functionality for worldwide destinations later in 2023.

Kelly Martinez, Co-President of ePost Global, said: “We pride ourselves on providing our customers with flexible, customised solutions tailored to meet their needs.

“Hurricane is a trusted partner whose solutions ensure that shipments have the necessary complete and accurate data including HS codes. Various regulatory changes and new requirements mean that accuracy of data is essential to ensure the smooth movement of goods through customs.

“We are now delighted to be extending our partnership with Hurricane to include its Aura API and the provision of duty and tax calculations initially on shipments to Canada and, later this year, internationally.”

Kelly added: “Our successful collaboration with Hurricane not only means we have access to their leading-edge data solutions, we also benefit from their extensive knowledge and ongoing guidance.”

Rob Dundas, Hurricane’s Business Development Director, said: “We are delighted to be extending our partnership with ePost Global.

“We have built a strong working relationship during the last 18 months and it is through ongoing collaboration that we have developed our APIs to provide them with the functionality they require to add value to their cross-border eCommerce customers.

“We now look forward to supporting the ePost Global team in the roll-out of Hurricane’s duty and tax calculator.”

The post ePost Global extends partnership with Hurricane Commerce appeared first on Hurricane Commerce.

• In just five years, retail media has accomplished what took digital ads 14 years and social media 11 years to achieve: $30 billion in revenue. 
• Retail media is predicted to reach $45 billion this year alone and grow an incredible 60% by 2027.
• One-quarter of retailers are generating more than $100 million in revenue from their media networks.  

Consumers are growing more accustomed to retail media too. In fact, 42% of global consumers say they’ve clicked on a Sponsored or Promoted Product ad in the past 12 months. 

As retail media embeds itself deeper into the fabric of the e-commerce industry, brands must reallocate budgets to stand out and connect with consumers — all while maintaining efficiency. 

In our latest webinar, The Return of Ad Spend: How to Increase the Efficiency of Your Retail Media Campaigns, ChannelAdvisor experts provide tips and key learnings to help you balance your retail media strategy and maximize your return on ad spend (ROAS). 

Establish ROAS Goals Across Strategies

Every advertiser strives for advertising efficiency to bring in the highest revenue for the lowest spend. But at what point does that efficiency limit your long-term success on a particular advertising platform?

Establishing individual ROAS goals for each of your targeting strategies is important for measuring overall growth and keeping your account constantly generating new-to-brand customers. These goals help create overall efficiency for your account while maintaining balanced growth.

For instance, you might achieve a goal ROAS of $12.50 with various targets across strategies:

Together, all of these strategies and results help achieve your goal or average ROAS. 

Optimize Campaigns and Allocate Investment According to ROAS Goals

Once your ROAS goals are established and your campaigns are up and running, optimizing your performance can help you actually achieve your targets. Depending on the ad platform, you can make these optimizations manually or (ideally) automatically to continually improve while making your job easier. 

Inefficient campaigns fail to recoup your investment. Conversely, campaigns that are too efficient slow your overall growth. In response, try:

• Increasing your daily budgets so campaigns meet their ceilings
• Testing new creatives
• Increasing your overall ad budget

Ad investment should also go hand in hand with your ROAS goals. For instance, if you’re prioritizing efficiency and hoping to increase ROAS, invest more heavily in brand protection. Brand protection campaigns include branded keyword bids and product detail page ad placements and typically perform at a high ROAS since customers are closer to their buying decisions. 

If you’re in a growth phase, however, it’s wiser to invest more heavily in customer acquisition and conquesting strategies like non-branded keywords, category exploration and clicks versus conversions. By thinking about your strategy in phases, you can invest spend with flexibility as your goals change.

Shift Strategy and Goals to Match the Customer Journey

Another approach to strategic planning and budget allocation is to consider the customer journey and marketing funnel from start to finish. By matching your strategy to the customer journey, you can start to identify goals beyond just meeting a ROAS target. 

Want to increase new-to-brand customers? Need to improve conversions? Once you identify these goals and priorities, you can identify appropriate budget allocations to each stage of the customer journey from awareness to consideration to conversion and beyond. Each phase includes several campaign types and targeting types for full coverage and full visibility on your advertising platform.

For every channel you sell on and every campaign you launch, ChannelAdvisor can help you optimize your strategies from a centralized platform. Whether you’re growing brand awareness or chasing new ROAS targets, we help you automate your execution and focus on the right levers to achieve your overall business goals. Most importantly, by combining the strength of our technology with the experience of our e-commerce experts, we’re able to streamline your retail media campaigns setup, management and tracking — helping deliver sales growth and a higher return on your ad spend.

Download the full webinar, The Return of Ad Spend: How to Increase the Efficiency of Your Retail Media Campaigns, for a breakdown of each retail media strategy, as well as tips, stats and tricks to make the most of your campaigns across marketplaces and retail media networks.

The post 3 Ways to Increase Your Retail Media Efficiency appeared first on ChannelAdvisor.

Pursuant to the NCIB, Nuvei may purchase for cancellation up to 5,556,604 subordinate voting shares of Nuvei, representing approximately 10% of its “public float” (as defined in the TSX Company Manual) as at March 8, 2023, or an aggregate fair market value of approximately U.S.$ 228.3 million based on the closing trading price of the subordinate voting shares on the NASDAQ Global Select Market (the “Nasdaq”) on March 17, 2023. As at March 8, 2023, Nuvei had 63,595,611 issued and outstanding subordinate voting shares, including a public float of 55,566,045 subordinate voting shares.

Subject to any required regulatory approvals, the NCIB will be conducted through the facilities of the TSX and the Nasdaq or alternative trading systems in Canada and the United States, if eligible, and will conform to their regulations. Subordinate voting shares will be acquired under the NCIB at the market price at the time of purchase.

Purchases under the NCIB may be made by means of open market transactions, including through an automatic share purchase plan, privately negotiated transactions or such other means as a securities regulatory authority may permit. In the event that the Company acquires subordinate voting shares other than through open market purchases, the purchase price of the subordinate voting shares may be different than the market price of the subordinate voting shares at the time of the acquisition. Purchases made under an issuer bid exemption order will be at a discount to the prevailing market price as per the terms of the order.

Furthermore, under the NCIB, Nuvei may make, once per week, a block purchase (as such term is defined in the TSX Company Manual) at market price, in accordance with TSX rules and applicable securities laws. Under TSX rules, block purchases may not be made, directly or indirectly, from any insider of the Company. Nuvei will otherwise be allowed, subject to applicable securities laws, to purchase daily, through the facilities of the TSX, a maximum of 75,606 subordinate voting shares representing 25% of the average daily trading volume, as calculated per the TSX rules for the prior six months (being 302,426 subordinate voting shares on the TSX).

In connection with the NCIB, Nuvei also entered into an automatic share purchase plan (the “ASPP”) with the designated broker responsible for the NCIB, allowing for the purchase of subordinate voting shares under the NCIB at times when Nuvei would ordinarily not be permitted to purchase its securities due to regulatory restrictions and customary self-imposed blackout periods. Pursuant to the ASPP, before entering into a blackout period, Nuvei may, but is not required to, instruct the designated broker to make purchases under the NCIB in accordance with certain purchasing parameters. Such purchases will be made by the designated broker based on such parameters, without further instructions by Nuvei, in compliance with the rules of the TSX, applicable securities laws and the terms of the ASPP. The ASPP has been pre-cleared by the TSX and is being implemented concurrently with the initiation of the NCIB.

Nuvei believes that the purchase of its subordinate voting shares under the NCIB is a desirable use of available excess cash as well as an appropriate investment by it since, in its view, market prices from time to time may not reflect the underlying value of Nuvei’s business. Actions in connection with the NCIB will be subject to various factors, including Nuvei’s capital and liquidity positions, accounting and regulatory considerations, Nuvei’s financial and operational performance, alternative uses of capital, the trading price of Nuvei’s subordinate voting shares and general market conditions. The NCIB does not obligate Nuvei to acquire a specific dollar amount or number of shares and may be extended, modified, or discontinued at any time.

Nuvei previously maintained a NCIB for the 12-month period beginning on March 10, 2022 and ended March 9, 2023, under which Nuvei was authorized to purchase up to 6,617,416 subordinate voting shares, or 10% of its public float as at February 28, 2022. During the term of such NCIB, Nuvei repurchased 3,660,743 of its subordinate voting shares at a weighted average purchase price per subordinate voting share of U.S.$45.51 through the facilities of the TSX and the Nasdaq.

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 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.

For more information, visit www.nuvei.com

Cautionary Note regarding Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” (collectively, “Forward-looking information”) within the meaning of applicable securities laws, including statements regarding the NCIB and the ASPP, and the intended purchase for cancellation of subordinate voting shares of the Company thereunder. This forward-looking information is identified by the use of terms and phrases such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, or “continue”, the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking information contains these terms and phrases. Economic and geopolitical uncertainties, including regional conflicts and wars, including potential impacts of sanctions, may also heighten the impact of certain factors described herein. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances. Forward-looking information is based on management’s beliefs and assumptions and on information currently available to management. Although the forward-looking information contained herein is based upon what we believe are reasonable assumptions, investors are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond our control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors described in greater detail under “Risk Factors” of the Company’s annual information form filed on March 8, 2023. Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein represents our expectations as of the date hereof or as of the date it is otherwise stated to be made, as applicable, and is subject to change after such date. However, we disclaim any intention or obligation or undertaking to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.

Contact: 

Public Relations

alex.hammond@nuvei.com

Investor Relations

IR@nuvei.com

* Based on the closing trading price of the subordinate voting shares on the Nasdaq on March 17, 2023.

The postal operator has integrated Hurricane’s Zephyr solution to ensure that parcels have the correct Harmonized System (HS) code to pass smoothly through customs.

The decision to partner with Hurricane coincides with the launch of Import Control System 2 (ICS2) second release requiring advance electronic data including product descriptions and HS6 codes for all consignments coming to or via the European Union by air.

NZ Post’s intention is to roll out additional Hurricane services later this year to add further value to its customers.

Fern Sandercock, NZ Post’s Head of Product, International Solutions (Acting), said: “Given key regulatory changes that are now coming into play for ICS2 second release around the provision of HS Codes for shipping into the EU, NZ Post recognises now more than ever the need to ensure complete and accurate data to support free flow trade for our customers when sending overseas.

“Hurricane’s Zephyr solution will enable us to meet these obligations while providing a seamless cross-border shipping experience for our customers through efficient checking and completion of cross-border shipment pre-advice data.

“NZ Post initially plans to offer a HS Code classification service to customers, but looks forward to exploring additional value add services, such as tax and VAT calculation, to further simplify the shipping experience for our customers.”

Rod Talbot, Hurricane’s Director – Asia Pacific, said: “We are delighted to be working with NZ Post to support its ambitions around cross-border eCommerce.

“Ensuring complete, accurate and compliant data on goods is a fundamental requirement for success in global eCommerce and we look forward to providing NZ Post with a range of solutions, starting with our HS look-up service.

“The provision of correct HS codes and other shipment data offers many benefits including operational efficiency, reduced costs and, most important of all, enhanced customer satisfaction.”

You can read more about the partnership here: https://postandparcel.info/152312/news/e-commerce/nz-post-selects-hurricane-commerce-hs-code-solution-to-meet-ics2-requirements/

The post NZ Post selects Hurricane Commerce HS code solution to meet ICS2 requirements appeared first on Hurricane Commerce.

Retail media’s journey to the top? Just five years.

No doubt, retail media is BIG and chock full of opportunity. That’s why we partnered with Retail Touchpoints in its latest report, The Revolution of Retail Media: Powered by Data, RMNs Offer Full-Funnel Advertising. The report charts retail media’s meteoric rise while addressing three major considerations the industry must address to take the advertising channel from thriving to legendary.

Retail Media’s Meteoric Rise

Retail media is no fad. Insider Intelligence even crowned it the “third big wave of digital advertising” (behind search and social) in a November 2022 article. The facts speak for themselves:

• Retail media is predicted to reach $45 billion this year alone.
• One-quarter of retailers are generating more than $100 million in revenue from their media networks.  

Yet, the sector is not without its growing pains. For retail and media to work hand-in-hand requires a full-funnel offering, physical store consideration and universal measurement standards that remove brand pain points.

“Off-Site” is Retail Media’s New Frontier

The true promise of retail media is its ability to use retailers’ first-party data to target ads across the web. Moving beyond retailers’ websites creates a full-funnel, omnichannel offering that increasingly includes connected TV (CTV) and social commerce. For instance, Lowe’s is in the process of integrating with Yahoo’s demand-side platform (DSP), and Kroger is expanding its offering into CTV. 

“Leveraging multiple ad types and multiple channels gives you the ability to become more strategic with your campaigns, target consumers across the entire buying funnel and deliver your potential customers the right product ad, in the right place, at just the right time,” said Bradley Hearn, Product Marketing Manager at ChannelAdvisor, a CommerceHub company.

This has a huge impact on how brands build their campaigns. Whereas brands previously drove awareness at the top of the funnel with videos or social campaigns, off-site retail media via CTV or social gives brands a way to immediately understand how consumers are reacting and engaging. 

Physical Stores Are Retail Media’s “Last Mile”

Perhaps surprisingly, advanced RMNs are going back to retail’s first love: the store. That’s because many major retailers have something Amazon doesn’t — a huge physical footprint. Retailers with higher monthly audience reach in-store versus online includes giants like:

• Walmart
• Target
• Walgreens
• Home Depot
• Costco
• CVS
• Lowe’s 
• Kroger
• Kohl’s 
• 7-Eleven
• Dick’s Sporting Goods

In-store media may now include front-of-store signage, TV walls, end caps, drop-down screens, smart shelf labels and smart cart screens. One of the reasons in-store retail media is so sought after is because it serves as a replacement for other offline advertising whose audiences are waning, like TV ads. While it has become harder and harder to reach the coveted 18-to-40-year-old demographic through linear TV, these audiences do still venture in-store. 

Retail Media Still Needs Substantial Standardization

Every RMN carries its own unique elements and requirements, making it difficult for brands to launch on more than three to five at a time. More than half of brands agree, according to an Association of National Advertisers report. For 57% of marketers, lack of standardization across platforms is a big challenge. 

Luckily, the Interactive Advertising Bureau (IAB) and interested brands like Unilever are working to devise a set of retail media measurement standards. The group is also pushing for the same level or reporting granularity the average programmatic platform delivers.

One other major piece to the puzzle? Making it easier for brands to manage their total RMN investment holistically across networks. 

ChannelAdvisor gives brands a way to streamline digital marketing campaign setup, management and tracking from a centralized platform for higher sales growth and return on ad spend. As RMNs take off and brands have multiple channels and campaigns to monitor, ChannelAdvisor provides a way to improve visibility across the landscape while efficiently monitoring performance. If you need guidance implementing retail media ads that convert, ChannelAdvisor’s Managed Services team can help. Through our longstanding relationship leading retail networks and our extensive experience in the market, our experts can show you what works. 

Discover what else is in store for RMNs in 2023 by downloading the full report, The Revolution of Retail Media: Powered by Data, RMNs Offer Full-Funnel Advertising. 

The post New Report: RMNs Offer Full-Funnel Advertising appeared first on ChannelAdvisor.

So when unauthorized sellers creep in, it’s a bigger blow to your e-commerce program than just a couple sales here and there. 

How can you keep unapproved sellers from degrading brand quality and ruining profit margins for your reseller network? Here’s how to stop unauthorized sellers on Amazon and beyond. 

What Is an Unauthorized Seller?

An unauthorized seller is any reseller who lists your products without approval. These third parties often purchase your products in bulk and sell them without your knowledge at lower prices, undermining your minimum advertised price (MAP) agreements, brand policies and values. They may pose as your brand or choose a different brand name. 

How Do Unauthorized Sellers Hurt Your Brand?

Unauthorized sellers can hurt your business by:

• Stealing sales. Undercutting your suggested prices entices consumers to buy from unauthorized sellers instead of your approved reseller network. On Amazon, unapproved sellers may also create multiple fake listings to increase their chances of showing up in search results and winning the Buy Box. 
• Diminishing profit margins. Undermining your MAP policy incites a “race to the bottom,” forcing all sellers to slash prices in an effort to stay competitive. But reducing prices also means reducing net profit, which may cause approved resellers to stop selling your products. 

• Damaging your brand reputation. Unsanctioned sellers don’t care about accurate listings or delivering top customer service. Because they don’t have an official relationship with you, they may use outdated or incorrect product photos and descriptions. If these inaccuracies lead customers to complain, they’ll perceive the mistake as your brand’s, possibly forfeiting future sales and loyalty. 

How Can You Stop Unauthorized Sellers?

Want to stop pesky third parties from ruining your e-commerce program? Here are five ways to stop unauthorized sellers in their tracks:

1. Spot unauthorized sellers with ease. 

It may be hard to identify unauthorized sellers if you’re not sure what to look for. Automated e-commerce software can help you spot them with ease, saving both employee time and precious minutes in the race to disable the offenders. Stay vigilant with always-on third-party seller analyses that help you zero in on disruptors.

On Amazon, applying for Brand Registry gives you more leverage when going to bat with unauthorized sellers. The program allows you to submit claims against unapproved listings if you are the trademark or copyright owner of the products you sell or manufacture. It also allows you to “gate” your marketplace presence, limiting the number of sellers for your products and requiring approval and written permission before resellers may proceed.

2. Track pricing for major fluctuations.

Tracking prices early and often can keep you and your approved sellers from making last-minute changes to keep up with diminishing price floors. It can also tip you off to unauthorized sellers as they start to undercut your pricing thresholds. 

But no one has time for manual price tracking, especially when global e-commerce runs 24/7. Automated repricers eliminate the need to monitor prices manually. They also help authorized sellers stay competitive by automatically updating prices based on changes in the market, while staying compliant with your MAP policy.

3. Attempt to remove specific marketplace sellers. 

Marketplaces can take a while to respond to claims. It’s also difficult for marketplaces to go after your unauthorized sellers because they don’t always violate the platform’s policies. That’s why it’s important to be diligent about knowing the platform’s policies, gathering details and “evidence” (e.g., making a purchase from the unauthorized seller to prove they are selling your products) and filing a formal complaint. You can also connect with seller support for more hands-on assistance. 

4. Set up selective distribution.

Instead of selling to distributors who can resell to retailers, consumers and unauthorized sellers alike, set up a selective distribution model, which is more exclusive and secure. Selective distribution allows you to curate a network of approved distributors and retailers who meet certain criteria you set. You can then prohibit these sellers from selling outside the network except directly to end consumers. 

5. Take legal action.

When you’ve exhausted all your options and unauthorized sellers keep coming, it may be time to take legal action. Hiring a lawyer to draft a cease-and-desist letter may be just what it takes to stop the offender. Some unapproved vendors, however, evade punishment by staying in the shadows with shell corporations and multiple online identities. In this case, you may consider a harm reduction approach, which doesn’t officially solve the problem, but makes it more difficult for culprits to obtain and sell your products. 

Remember: While legal action is the most official and potentially effective method of disabling unauthorized sellers, it can also be the most expensive and time consuming. 

Manage Your Sellers with ChannelAdvisor

ChannelAdvisor Brand Analytics helps you spot non-compliant pricing and unapproved sellers faster and easier than ever. Our 3P Sellers Analysis automatically monitors all third-party offers listed alongside your products on marketplaces so you can track their respective pricing and flag unauthorized sellers. 

Our Managed Services team also has the hands-on experience and expertise to help you apply for Amazon Brand Registry, set effective repricing strategies and more.

The post How to Stop Unauthorized Sellers appeared first on ChannelAdvisor.

From entrepreneurs and business leaders to marketing and technology experts, these women are paving the way for future generations of women in commerce. They come from all corners of the Earth, bringing diverse perspectives and innovative ideas to the industry.

Our Top 20 Women in Commerce list is a testament to women’s incredible work and accomplishments in this field. We hope that by highlighting their achievements, we can encourage and inspire other women to pursue their passions in digital commerce and help create a more inclusive and diverse industry.

Here is our second edition of the global Top 20 Women in Commerce list.

Brazil

Julia Rueff, Marketplace senior director @ Mercado Libre 

Julia Rueff is the current Marketplace senior director at Mercado Libre, one of the ecommerce leaders in Latin America. She has over 14 years of experience in large multinational and national companies in the technology, retail, and industry segments, such as Cnova, Whirlpool, and B2W. In addition to her extensive experience, Rueff is also a well-known speaker who participates in various events and panels, sharing her expertise on retail, ecommerce, and gender equity. 

“Beyond the impactful performance and development in the ecommerce market, the increase in the number of women in top leadership positions helps break down prejudice barriers and inspires other women to follow their paths of evolution and growth.

I am thrilled and honored with this recognition. VTEX is a great booster of the ecommerce business and a global reference in technology.”

Júlia Ferreira, head of Digital @ Grupo Soma

Júlia Ferreira is an accomplished digital marketing and ecommerce professional with over a decade of experience in the industry. After four years in Marketing and Ecommerce at Sephora, she moved on to Grupo Soma, one of the biggest fashion companies in Brazil, where she started as an ecommerce specialist in 2016 and worked her way up to become head of Digital at Farm, one of Grupo Soma’s brands. 

“Despite the obstacles we still face in the labor market, women are increasingly playing a prominent role in their fields. In digital retail, for example, we find several incredible professionals contributing significantly to the segment’s growth. With a keen eye for innovation and being very connected with consumers’ needs, they are essential in defining strategies and leading relevant projects.

Being on a list that praises the female contribution to the ecommerce ecosystem, along with so many other women who make a difference every day, is extremely gratifying to me. Such acknowledgment makes me really proud, and I hope I can somehow also inspire more women to follow their dreams and pursue success in their careers.”

Ana Fontes, founder and president @ RME – Rede Mulher Empreendedora

Ana Fontes is a social entrepreneur and founder of RME – Rede Mulher Empreendedora and Instituto RME, which supports women in generating income through education, mentorship programs, and access to financial resources. She leads the Brazilian delegation in the W20/G20 group and provides consultancy services to Seguros Unimed, Instituto Avon, and Plan Brazil. Fontes has received numerous awards, including being named one of the 20 most powerful women in Brazil by Forbes and winning the Fortune Most Powerful Women award in 2017.

“The importance of women in the ecommerce ecosystem is vital. Today, in Brazil, almost half of the small businesses are led and have a woman on their staff. Most of these women look at ecommerce as a possibility of starting a business, making an income for the family, and being able to connect all their professional and personal actions. Ecommerce has been growing significantly, and it is indeed a path, a way for these women to connect with the income generation environment and help them have a business that causes more and more impact, even nationwide.

I am delighted to be acknowledged. I loved being nominated. I have been working with women in all segments since 2010, when I created  Rede Mulher Empreendedora, and I’ve spent 13 years on this journey helping these women try to have an income, make their businesses gain visibility, and develop so they could support their families and have an income not only for them but for their own environments. And ecommerce plays a fundamental role here because many women start their businesses at home. Ecommerce is an option for these women to get started and then explore other paths, with the most diverse possibilities. So I am very happy to be on the list, very grateful and honored. On behalf of all women of Rede Mulher Empreendedora, I can only thank you.”

Rachel Maia, founder and CEO @ RMConsulting

Rachel Maia is the founder and CEO of RMConsulting, focusing on sustainability and leadership. She has worked at 7-Eleven and Novartis Pharmacy and led market entry and growth strategies for Tiffany & Co. as the CFO for almost eight years. After that, she worked as Pandora’s CEO in Brazil for another eight years. Maia is a member of various organizations, such as the American Chamber of Commerce, the Institute for Retail Development, the Brazilian Women’s Group, among others. She is also a mentor and recently founded a non-profit organization, CAPACITA-ME, empowering students and professionals from underserved communities in São Paulo.

United States of America

Carole Diarra, global vice-president of Marketing @ UGG

Carole Diarra is currently the global VP of Marketing at UGG. Previously, she worked as CMO at Arbonne International LLC and had 15 years of experience in the L’Oreal Group, where she held various leadership positions, including VP of Brand Management, VP of Retail Category Development, and VP of Marketing. She also has an MBA degree from Harvard University.

Priya Janardhanan, Technology leader @ Worldwide Golf Shop

Priya Janardhanan is a strategic leader with over 12 years of experience in IT applications and solutions. She also has ten years of expertise in ecommerce technology, managing the development of four branded websites. Janardhanan led teams of up to 15 on and offshore contractors and collaborated with senior leaders in risk management. She is currently the technology leader at Worldwide Golf Shops, having worked previously at Chico’s FAS and Target.

“I am incredibly grateful for your thoughtful nomination. It means so much to me to be acknowledged for my work in this field. As a woman in ecommerce, I am constantly inspired by the incredible female leaders who have paved the way before me. I am committed to doing everything I can to continue that legacy and empower other women to pursue their dreams in this field.

At Worldwide Golf Shops, our mission is to connect people and build relationships both on and off the golf course. I have personally experienced this through the interactions I’ve had with colleagues and customers alike. It is this focus on people that makes Worldwide Golf Shops such a special place to work.

Thank you again for this wonderful nomination. Working alongside such talented and supportive colleagues has been a privilege, and I am truly grateful for the opportunity to be part of this incredible community of women in ecommerce.”

Adriena Wright, Marketing manager @ Target

Adriena Wright is currently the Marketing manager at Target. She is also the founder of The Ambitious Woman Project, a nonprofit organization that empowers women and prepares them for success. Wright has a degree from Harvard Business School and a Women’s Entrepreneurship certificate from Cornell University. Her career includes roles at Johnson & Johnson, The Wonderful Company, and Lenny & Larry’s.

Kaela Kucera, Ecommerce manager @ Pierce Manufacturing 

Kaela Kucera is the ecommerce manager at Pierce Manufacturing. Previously, she worked for 14 years at Festival Foods, leading ecommerce and mobile technology programs and Public Relations and Digital Marketing teams for other retailers, driving user acquisition and retention. She is certified in Project Management Essentials and was a panelist at the 2018 Mobile CX Summit.

“It’s an honor to be part of this group and acknowledged as a top woman in commerce. The leadership I have witnessed from women throughout my career has made me the leader and motivated individual I am today. When I first started in commerce, I knew very little, but through guidance and leadership from those around me, I continued to pursue this career path and have enjoyed many successes.

Not only in technology but in all industries, I believe it’s important to highlight women and young professionals in their accomplishments. It’s up to us to show the next generations that success and professionalism aren’t driven by gender but by things such as bravery, perseverance, and servant leadership.”

Spain

Ana Laura Fleba, Digital Marketing & Commerce Hub director @ Unilever

Ana Laura Fleba is the Digital Marketing & Commerce Hub director of Unilever in Spain. Previously, she held leadership positions at Avon and Sodimac. She is a member of the Argentine Chamber of Electronic Commerce and the Open Innovation Platform of the AECOC (PIA) Steering Committee. She is also a professor in a few graduate programs, including Digital Marketing and Ecommerce at UBA and Ecommerce at USAL and Di Tella. 

“When it comes to leading businesses and building teams, I believe diversity of abilities and genders is essential. The complementary vision adds value and causes much more impact on the company.

I feel honored to be acknowledged as one of the top women in commerce by a company like VTEX. I started on this path many years ago and faced many challenges as a woman, including leading businesses and trying to be heard. This acknowledgment praised me and gives me the strength to continue on this path with energy, enthusiasm, and the conviction that I’m on the right path.”

Elisa Rabate, Digital & Ecommerce director @ Grup Ametller Origen

Elisa Rabate currently works as the Digital & Ecommerce director of Grup Ametller Origen, helping with the company’s ongoing digital transformation. She has over 15 years of experience across various industries, including B2C, B2B, ecommerce, and Saas. Previously, she has led pure players in Spain and collaborated with global innovation leaders.

France

Elodie Perthuisot, Chief Ecommerce, Digital Transformation and Data Officer @ Carrefour     

Elodie Perthuisot is a seasoned executive with an impressive background, currently working as Carrefour’s Chief Ecommerce, Digital Transformation, and Data Officer. She has been with the company for four years, playing a key role in driving its digital transformation strategy. Before joining Carrefour, Perthuisot held the position of commercial director at Fnac and then at Fnac Darty, where she worked for approximately six years.

UK

Josie Klafkowska, Global Marketing director @ Wunderman Thompson Commerce & Technology

Josie Klafkowska is a seasoned professional with over 18 years of experience in client management, new business, and marketing, spanning the creative and digital industries. She joined Cognifide (now Wunderman Thompson Technology) in 2015 and played a key role in securing the trust of industry leaders and global household names. As a part of the Wunderman Thompson Technology team, Klafwoska helps design, build, manage, and run the complex technology ecosystems that give organizations the technical capabilities that fuel their growth.

“Thank you, VTEX, for including me in this list. It’s an honor to be named alongside a group of women doing such fantastic work in digital commerce. At Wunderman Thompson, I’m lucky to be surrounded by incredible women constantly pushing the bar. Our work with clients and technology partners means that we are continually breaking new ground, ensuring that the commerce experiences we create deliver the highest expectations of consumers.

With Nielsen predicting that women will own 75% of the discretionary spending by 2028, it’s imperative that women are well represented in the industry that is creating these experiences. I feel lucky to be working at the heart of such a fast-paced segment and working with colleagues, clients, and partners—men and women—that make it all worthwhile.”

Romania 

Claudia Tudor, deputy CEO @ F64 Studio

Claudia Tudor is a senior executive with over 15 years of experience in sales, distribution, trade marketing, and operations. She has also served in general management roles in mid and large-size organizations, focusing on business operations and strategy in fully integrated international business environments. In addition to her extensive experience, Tudor has been the deputy CEO of F64 Studio since 2012.

“I am very honored to be nominated. This distinction is even more valuable as it comes from such a strong and successful community in the ecommerce industry like the VTEX community. I believe that women have an essential role in the ecommerce ecosystem. This acknowledgment motivates me to continue sharing my experience and encourage and support women in the industry. Thank you for this acknowledgment and the support you give to all women!”

México 

Pilar Rojas, CIO @ Chedraui

Pilar Rojas is a highly accomplished business leader with decades of experience in the retail industry. As the director and Chief Information Officer of Chedraui, a leading player in the grocery retail sector, she oversees the company’s technology strategy and operations. Rojas previously spent 18 years at Walmart, where she worked as vice-president and CIO. She also runs an Executive Management of Companies program at IPADE Business School.

Gloria Canales, Digital Strategy director @ Coppel

Gloria Canales is an experienced business leader in retail and ecommerce. She is the digital strategy director at Coppel, having worked previously at Amazon as head of Marketing. She is also the co-founder and managing director of Ösom and a consultant at Bain & Company. She holds an MBA from Harvard Business School, a certificate in International Business and Strategic Management from the University of British Columbia, and a certificate in Economics of the European Union from the University of Essex.

“I believe that the participation of women in the ecommerce ecosystem and the labor market, in general, contributes to having more diverse and inclusive environments that positively impact work teams and companies. It has been proven that greater diversity translates into greater performance for companies. It’s a fact that diversity fosters greater creativity, innovation, the ability to attract and retain talent, greater agility, and the ability to understand our customers better, improving the teams’ performance. I am excited to see that there are more and more women in this ecosystem.

I feel very honored by the acknowledgment, but above all, proud to have contributed to developing the ecommerce ecosystem in Mexico. When I started in this industry 12 years ago, there were few players, and less than 10 million Mexicans bought online. Today’s industry is mature, with top-tier players and a customer experience that includes endless payment methods, fast delivery, easy returns, and greater integration with physical stores/delivery points.”

Chile

Oksana Tsvigun, LATAM Ecommerce director @ Pandora 

With more than 16 years of experience in FMCG (fast-moving consumer goods) and ecommerce international companies, Oksana Tsvigun worked as a supply chain manager at L’Oreal for eight years and later served as CEO of the global fashion group Lamoda. She is currently the LATAM ecommerce director of Pandora. Additionally, Tsvigun has a master’s degree in Project Management and Consulting from Kyiv National Economics University.

Argentina

Agostina Galli, Digital manager @ Swatch and Style Store

Agostina Galli is the digital manager at Swatch and Style Store, where she leads the development of the company’s digital and user experience solutions. She has over 12 years of experience. Her expertise in digital and ecommerce strategies for luxury brands has made her a sought-after speaker and moderator for industry events, such as ecommerce talks, marketplace points, workshops for ecommerce institutes, among others.

“This acknowledgment makes me very happy, since I’ve been surrounded by strong women all my life. My family, my friends, and my educational and professional environments had a very present female view. That energy has always permeated my education, and this perception makes me know that to achieve true transformation, we need women in all teams at all levels.

In recent years, very important steps have been taken, especially if we look at women’s participation increase in the digital commerce and internet business. The way of working and interpersonal relationships also reflect these advances. Now, the biggest challenge—and, to a large extent, our responsibility—is to ensure that all women feel safe, free, heard, and valued in their work environments.

It is an honor to be part of this list with so many incredible women from all over the world. I think it is an excellent opportunity to show gratitude, to appreciate everything I have gone through these years, the opportunities I have had in my career, and all the people who accompanied me on the journey. I hope to be the one who accompanies and inspires the next generations of digital ecosystem protagonists.”

Peru

Paula Runciman, Chief Digital leader @ Farmacias Peruanas 

Paula Runciman is a renowned digital leader and entrepreneur. She currently works as Chief Digital Leader at Farmacias Peruanas, acting as director of Omnichannel & Digital Innovation. Throughout her career, she has founded and led successful digital companies and advised top companies in analytics, digital marketing, and ecommerce. Runciman also used to be a professor at Universidad Pacifico, teaching business projects and digital marketing courses. With 20 years of experience in the commerce industry, she continues to make significant contributions to the field.

Patricia Wissar, vice-president of Technology @ Intercorp Retail

Patricia Wissar is the Information Technology vice-president of Intercorp Retail. She has a 15-year career in the tech industry and has previously worked in other leading companies, such as IBM, Oracle, and Cisco. She has a master’s degree from Georgetown University and two bachelor’s degrees from Brown University.

Colômbia 

Maria Fernanda Quiñones, CEO @ Colombian Chamber of Electronic Commerce (CCCE)

Maria Fernanda Quiñones is the CEO of the Chamber of Electronic Commerce (CCCE) in Colombia and has turned the Chamber into a national reference for public and private decision-making. Previously, she was the general secretary of Credibanco, a very important electronic payment company in the country. She is an experienced corporate lawyer focusing on ecommerce, payment methods, and digital transformation, and is also passionate about economic growth and social inclusion. 

“First of all, we have tried to acknowledge and understand the deep gender gap that exists in Colombia regarding digital appropriation. We have sought to vindicate the image of women in the digital world in different ways: promoting training programs that include, in addition to digital content, content aimed at closing the gap, soft skills, and business. An example is the YAESTOYONLINE Woman program, which promotes public policies for creating STEM careers for women and supports the national government in its gap-closing programs, such as PorticMujer, of which we are currently operators.

This acknowledgment means a lot to me because one of the main motivations when performing my role is being able to show that a female perspective is essential to success in any industry—particularly the digital one. Women have great contribution capacities, from conceptualizing and running any business initiative to—and above all—understanding a specific market: the female one, which has been reached with an essentially masculine message for decades.”

The post Top 20 Women in Commerce 2023 appeared first on VTEX.

MONTREAL, March 8, 2023 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today reported its financial results for the three months and year ended  December 31, 2022.

“2022 was another strong year for Nuvei highlighted by Total volume growth of 39% on a constant currency basis, reflecting continued progress and execution of our strategic initiatives. We’ve worked diligently to further scale our platform organically and inorganically, diversify the business across high-growth discretionary and non-discretionary verticals, increase our use cases, target more end markets, and increase our distribution; all of which combined substantially expands our TAM to now include global e-commerce, integrated payments and B2B,” said Philip Fayer, Nuvei Chair and CEO. “I am very pleased with our results and we’re off to a great start with the momentum exiting last year carrying over into 2023. From our position of strength, we will continue our disciplined approach to investing in the business as appropriate and expect to prioritize share repurchases with our free cash flow.”

Financial Highlights for the Three Months Ended December 31, 2022

• Total volume⁽¹⁾ increased 28% to $40.3 billion from $31.5 billion;
  • eCommerce represented 91% of Total volume;
  • Total volume growth at constant currency⁽¹⁾ was 33% with Total volume at constant currency⁽¹⁾ increasing to $41.8 billion from $31.5 billion;
• Revenue increased 4% to $220.3 million from $211.9 million;
  • Revenue was impacted unfavorably by changes in foreign currency exchange rates year-over-year and volatility from digital assets and cryptocurrencies. Organic revenue growth excluding digital assets and cryptocurrencies at constant currency⁽²⁾ was 26%, with Organic revenue excluding digital assets and cryptocurrencies at constant currency⁽²⁾ increasing to $209.6 million from $165.7 million;
  • Revenue growth at constant currency⁽²⁾ was 10% with Revenue at constant currency⁽²⁾ increasing to $232.5 million from $211.9 million;
• Net income decreased by 24% to $9.4 million from $12.3 million;
• Adjusted EBITDA⁽²⁾ decreased by 6% to $85.7 million from $91.5 million;
• Adjusted net income⁽²⁾ decreased by 4% to $68.0 million from $70.6 million;
• Net income per diluted share decreased by 14% to $0.06 compared to $0.07;
• Adjusted net income per diluted share⁽²⁾ was unchanged at $0.47;
• Adjusted EBITDA less capital expenditures⁽²⁾ decreased by 13% to $71.2 million from $81.8 million; and
• Share repurchases totaled 1,892,075 shares for total cash consideration of $57.5 million.

Financial Highlights for the Year Ended December 31, 2022

• Total volume⁽¹⁾ increased 34% to $127.7 billion from $95.6 billion;
  • eCommerce represented 89% of Total volume;
  • Total volume growth at constant currency⁽¹⁾ was 39% with Total volume at constant currency⁽¹⁾ increasing to $132.7 billion from $95.6 billion;
• Revenue increased 16% to $843.3 million from $724.5 million;
  • Revenue was impacted unfavorably by changes in foreign currency exchange rates year-over-year by $40.5 million;
  • Revenue growth at constant currency⁽²⁾ was 22% with Revenue at constant currency⁽²⁾ increasing to $883.9 million from $724.5 million;
• Net income decreased by 42% to $62.0 million from net income of $107.0 million, primarily due to a $85.9 million increase in share-based payments;
• Adjusted EBITDA⁽²⁾ increased by 11% to $351.3 million from $317.2 million;
• Adjusted net income⁽²⁾ increased by 10% to $274.2 million from $248.6 million;
• Net income per diluted share decreased by 45% to $0.39 from $0.71;
• Adjusted net income per diluted share⁽²⁾ increased by 10% to $1.86 from $1.69;
• Adjusted EBITDA less capital expenditures⁽²⁾ increased by 4% to $303.0 million from $290.1 million; and
• Cash balance of $752 million at December 31, 2022 compared to $749 million at December 31, 2021. Share repurchases totaled 3,660,743 shares for total cash consideration of $167 million during the year and represented approximately 5% of the public float. Nuvei used $616 million of its cash and cash equivalents subsequent to year-end to fund the Paya acquisition.

⁽¹⁾ Total volume and Total volume at constant currency do not represent revenue earned by the Company, but rather the total dollar value of transactions processed by merchants under contractual agreement with the Company. See “Non-IFRS and Other Financial Measures”.

⁽²⁾ Adjusted EBITDA, Revenue at constant currency, Revenue growth at constant currency, Organic revenue excluding digital assets and cryptocurrencies at constant currency, Organic revenue growth excluding digital assets and cryptocurrencies at constant currency, Adjusted net income, Adjusted net income per diluted share and Adjusted EBITDA less capital expenditures are non-IFRS measures and non-IFRS ratios. These measures are not recognized measures under IFRS and do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. See “Non-IFRS and Other Financial Measures”.

Operational Highlights

• Revenue for the fourth quarter of 2022 increased 17% to $89.4 million in North America, decreased by 9% to $115.9 million in Europe, the Middle East and Africa, increased 90% to $12.2 million in Latin America and increased 107% to $2.9 million in Asia Pacific.
  • North America eCommerce direct revenue increased 65% to $34 million in this year’s fourth quarter and represented approximately 38% of total North America revenue, as a result of strategic investments in senior talent and distribution.
  • Europe, the Middle East and Africa results were impacted by fluctuations in foreign currency and the volatility in digital assets and cryptocurrencies.
  • Latin America results accelerated rapidly, driven by significant new business and wallet share expansion from current customers expanding into those countries.
  • Asia Pacific growth reflects recent successes with scaling acquiring capabilities in Singapore and Hong Kong, with Australia recently added as the third market in the region.
• With respect to advancements in technology and product innovation, during the full year Nuvei launched 96 new product releases. Recent highlights include:
  • Conducting a successful pilot in North America to begin insourcing back-end processing, with full migration onto the Nuvei platform planned over the next 18 months;
  • Launching direct acquiring capabilities in Australia;
  • Becoming a licensed in-country direct acquirer in Belgium for local card network Bancontact;
  • Facilitating American Express’s entrance into the Canadian gaming market;
• Nuvei also added multiple new alternative payment methods (“APMs”) increasing its portfolio to 603 at the end of the fourth quarter, expanding access and allowing its customers to accept more forms of regionally familiar and preferred digital payment method
• New business revenue outside of digital assets and cryptocurrencies[1] increased 23% during the fourth quarter, including several enterprise level customer wins. Highlighting some of the new and expanded customer relationships in which Nuvei is deploying its proprietary modular platform to provide a more frictionless payment experience:
  • OnBuy; Virgin Atlantic; DraftKings; VTEX; Redeban; Holland Casino; Le Panier Bleu; and Unibet Italy, among others.
• The Company added 54 new team members in the fourth quarter of 2022, ending with 1,690 employees at December 31, 2022 compared with 1,368 employees at December 31, 2021. Subsequent to the end of the year, Nuvei added 321 new team members in association with the close of the Paya acquisition

Financial Outlook⁽³⁾

For the three months ending March 31, 2023 and the  fiscal year ending December 31, 2023, Nuvei anticipates Total volume⁽¹⁾, Revenue, Revenue at constant currency and Adjusted EBITDA⁽²⁾ to be in the ranges below.  The financial outlook reflects the closing of the acquisition of Paya on February 22, 2023. Nuvei expects Organic revenue growth excluding digital assets and cryptocurrencies at constant currency to be between 23% and 28% for the fiscal year ending December 31, 2023.

The financial outlook, including the various underlying assumptions, constitute forward-looking information within the meaning of applicable securities laws and is fully qualified and based on a number of assumptions and subject to a number of risks described under the headings “Forward-Looking Information” and “Financial Outlook and Growth Targets Assumptions” of this press release.

Growth Targets

Nuvei’s medium-term⁽⁴⁾ annual growth target for revenue, as well as its medium-term⁽⁴⁾ target for capital expenditures (acquisition of intangible assets and property and equipment) as a percentage of revenue and long-term target for Adjusted EBITDA margin⁽²⁾, are shown in the table below.  Nuvei’s targets are intended to provide insight into the execution of our strategy as it relates to growth, profitability and cash generation. As a result, Nuvei is updating its medium-term growth targets by removing Total volume and adding capital expenditures as a percentage of revenue.  In addition, as a result of the Paya acquisition, Nuvei is updating the medium-term revenue target from 30%+ to 20%+ annual year-over-year growth. These medium⁽⁴⁾ and long-term⁽⁴⁾ targets should not be considered as projections, forecasts or expected results but rather goals that we seek to achieve from the execution of our strategy over time, and at a further stage of business maturity, through geographic expansion, product innovation, growing wallet share with existing customers and new customer wins, as more fully described under the heading “Summary of Factors Affecting our Performance” of our most recent Management’s Discussion and Analysis of Financial Condition and Results of Operations. These growth targets, including the various underlying assumptions, constitute forward-looking information within the meaning of applicable securities laws and are fully qualified and based on a number of assumptions and subject to a number of risks described under the headings “Forward-Looking Information” and “Financial Outlook and Growth Targets Assumptions” of this press release. We will review and revise these growth targets as economic, market and regulatory environments change.

This is the performance of the Company with respect to these metrics over the last three years:

⁽¹⁾ Total volume does not represent revenue earned by the Company, but rather the total dollar value of transactions processed by merchants under contractual agreement with the Company. See “Non-IFRS and Other Financial Measures” below.

⁽²⁾ Revenue at constant currency, Revenue growth at constant currency, Organic revenue excluding digital assets and cryptocurrencies at constant currency, , Organic revenue growth excluding digital assets and cryptocurrencies at constant currency, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income, Adjusted net income per diluted share and Adjusted EBITDA less capital expenditures are non-IFRS measures and non-IFRS ratios. See “Non-IFRS and Other Financial Measures”.

⁽³⁾ Other than with respect to revenue and capital expenditures as a percentage of revenue, the Company only provides guidance on a non-IFRS basis. The Company does not provide a reconciliation of forward-looking revenue at constant currency (non-IFRS), Organic revenue growth excluding digital assets and cryptocurrencies at constant currency (non-IFRS) to revenue, and Adjusted EBITDA (non-IFRS) to net income (loss) due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation such as predicting the future impact and timing of acquisitions and divestitures, foreign exchange rates and the volatility in digital assets. In periods where significant acquisitions or divestitures are not expected, the Company believes it might have a basis for forecasting the IFRS equivalent for certain costs, such as employee benefits, commissions and depreciation and amortization. However, because other deductions such as share-based payments, net finance costs, gain (loss) on financial instruments carried at fair market value and current and deferred income taxes used to calculate projected net income (loss) can vary significantly based on actual events, the Company is not able to forecast on an IFRS basis with reasonable certainty all deductions needed in order to provide an IFRS calculation of projected net income (loss). The amount of these deductions may be material and, therefore, could result in projected IFRS net income (loss) being materially less than projected Adjusted EBITDA (non-IFRS). These statements represent forward-looking information and may represent a financial outlook, and actual results may vary. See the risk and assumptions described under the headings “Forward-looking information” and “Financial Outlook and Growth Targets Assumptions” of this press release.

⁽⁴⁾ The Company defines “Medium-term” as between three and five years and “long-term” as five to seven years.

⁽⁵⁾ Capital expenditures means acquisition of Property and equipment and acquisition of intangible assets.

Conference Call Information

Nuvei will host a conference call to discuss its fourth quarter and fiscal year end 2022 financial results today, Wednesday, March 8, 2023 at 8:30 am ET. Hosting the call will be Philip Fayer, Chair and CEO, and David Schwartz, CFO.

The conference call will be webcast live from the Company’s investor relations website at https://investors.nuvei.com under the “Events & Presentations” section. A replay will be available on the investor relations website following the call.

The conference call can also be accessed live over the phone by dialing 877-425-9470 (US/Canada toll-free), or 201-389-0878 (international). A replay will be available approximately one hour after the conclusion of the call and can be accessed by dialing 844-512-2921 (US/Canada toll-free), or 412-317-6671 (international); the conference ID is 13735177. The audio replay will be available through Wednesday, March 22, 2023.

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 47 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.

For more information, visit www.nuvei.com

Non-IFRS and Other Financial Measures

Nuvei’s audited consolidated financial statements have been prepared in accordance with IFRS as issued by the International Accounting Standards Board. The information presented in this press release includes non-IFRS financial measures, non-IFRS financial ratios and supplementary financial measures, namely Adjusted EBITDA, Adjusted EBITDA margin, Revenue at constant currency, Revenue growth at constant currency, Organic Revenue at constant currency, Organic revenue growth at constant currency, Organic revenue excluding digital assets and cryptocurrencies at constant currency, Organic revenue growth excluding digital assets and cryptocurrencies at constant currency, Adjusted net income, Adjusted net income per basic share, Adjusted net income per diluted share, Adjusted EBITDA less capital expenditures, Total volume, Total volume at constant currency, Total organic volume at constant currency and eCommerce volume. These measures are not recognized measures under IFRS and do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS measures by providing further understanding of our results of operations from our perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of the Company’s financial statements reported under IFRS. These measures are used to provide investors with additional insight of our operating performance and thus highlight trends in Nuvei’s business that may not otherwise be apparent when relying solely on IFRS measures. We also believe that securities analysts, investors and other interested parties frequently use these non-IFRS and other financial measures in the evaluation of issuers. We also use these measures in order to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts and to determine components of management compensation. We believe these measures are important additional measures of our performance, primarily because they and similar measures are used widely among others in the payment technology industry as a means of evaluating a company’s underlying operating performance.

Non-IFRS Financial Measures

Revenue at constant currency: Revenue at constant currency means revenue adjusted for the impact of foreign currency exchange fluctuations. This measure helps provide insight on comparable revenue growth by removing the effect of changes in foreign currency exchange rates year-over-year. Foreign currency exchange impact in the current period is calculated using prior period quarterly average exchange rates applied to the current period foreign currency amounts.

Organic revenue at constant currency: Organic revenue at constant currency means revenue excluding the revenue attributable to acquired businesses for a period of 12 months following their acquisition and excluding revenue attributable to divested businesses, adjusted for the impact of foreign currency exchange fluctuations. Foreign currency exchange impact in the current period is calculated using prior period quarterly average exchange rates applied to the current period foreign currency amounts. This measure helps provide insight on organic and acquisition-related growth and presents useful information about comparable revenue growth.

Organic revenue excluding digital assets and cryptocurrencies at constant currency: Organic revenue excluding digital assets and cryptocurrencies at constant currency means revenue excluding the revenue attributable to acquired businesses for a period of 12 months following their acquisition and excluding revenue attributable to divested businesses and digital assets and cryptocurrencies, and adjusted for the impact of foreign currency exchange fluctuations. This measure helps provide insight on comparable revenue growth by removing the effect of volatility in digital assets and cryptocurrencies and changes in foreign currency exchange rates year-over-year. Foreign currency exchange impact in the current period is calculated using prior period quarterly average exchange rates applied to the current period foreign currency amounts. The Revenue attributable to digital assets and cryptocurrencies is calculated in accordance with the accounting policies used to prepare the revenue line item presented in the Company’s financial statements under IFRS.

Adjusted EBITDA: We use Adjusted EBITDA as a means to evaluate operating performance, by eliminating the impact of non-operational or non-cash items. Adjusted EBITDA is defined as net income (loss) before finance costs (recovery), finance income, depreciation and amortization, income tax expense, acquisition, integration and severance costs, share-based payments and related payroll taxes, loss (gain) on foreign currency exchange, and legal settlement and other.

Adjusted EBITDA less capital expenditures: We use Adjusted EBITDA less capital expenditures (acquisition of intangible assets and property and equipment) as a supplementary indicator of our operating performance. In the third quarter of 2022, we retrospectively modified the label of this measure from “Free cash flow” in order to more clearly reflect its composition.

Adjusted net income: We use Adjusted net income as an indicator of business performance and profitability with our current tax and capital structure. Adjusted net income is defined as net income (loss) before acquisition, integration and severance costs, share-based payments and related payroll taxes, loss (gain) on foreign currency exchange, amortization of acquisition-related intangible assets, and the related income tax expense or recovery for these items. Adjusted net income also excludes change in redemption value of liability-classified common and preferred shares, change in fair value of share repurchase liability and accelerated amortization of deferred transaction costs and legal settlement and other.

Non-IFRS Financial Ratios

Revenue growth at constant currency: Revenue growth at constant currency means the year-over-year change in Revenue at constant currency divided by reported revenue in the prior period. We use Revenue growth at constant currency to provide better comparability of revenue trends year-over-year, without the impact of fluctuations in foreign currency exchange rates.

Organic revenue growth at constant currency: Organic revenue growth at constant currency means the year-over-year change in Organic revenue at constant currency divided by comparable Organic revenue in the prior period. We use Organic revenue growth at constant currency to provide better comparability of revenue trends year-over-year, without the impact of acquisitions, divestitures and fluctuations in foreign currency exchanges rates.

Organic revenue growth excluding digital assets and cryptocurrencies at constant currency: Organic revenue growth excluding digital assets and cryptocurrencies at constant currency means the year-over-year change in Organic revenue excluding digital assets and cryptocurrencies at constant currency divided by comparable Organic revenue excluding digital assets and cryptocurrencies in the prior period. We use Organic revenue growth excluding digital assets and cryptocurrencies at constant currency to provide better comparability of revenue trends year-over-year, without the impact of volatility in digital assets and cryptocurrencies and fluctuations in foreign currency exchange rates.

Adjusted EBITDA margin: Adjusted EBITDA margin means Adjusted EBITDA divided by revenue.

Adjusted net income per basic share and per diluted share: We use Adjusted net income per basic share and per diluted share as an indicator of performance and profitability of our business on a per share basis. Adjusted net income per basic share and per diluted share means Adjusted net income less net income attributable to non-controlling interest divided by the basic and diluted weighted average number of common shares outstanding for the period. The number of share-based awards used in the diluted weighted average number of common shares outstanding in the Adjusted net income per diluted share calculation is determined using the treasury stock method as permitted under IFRS.

Supplementary Financial Measures

We monitor the following key performance indicators to help us evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions. Our key performance indicators may be calculated in a manner that differs from similar key performance indicators used by other companies.

Total volume and eCommerce volume: We believe Total volume and eCommerce volume are indicators of performance of our business. Total volume and similar measures are used widely among others in the payments industry as a means of evaluating a company’s performance. We define Total volume as the total dollar value of transactions processed in the period by customers under contractual agreement with us. eCommerce volume is the portion of Total volume for which the transaction did not occur at a physical location. Total volume and eCommerce volume do not represent revenue earned by us. Total volume includes acquiring volume, where we are in the flow of funds in the settlement transaction cycle, gateway/technology volume, where we provide our gateway/technology services but are not in the flow of funds in the settlement transaction cycle, as well as the total dollar value of transactions processed relating to APMs and payouts. Since our revenue is primarily sales volume and transaction-based, generated from merchants’ daily sales and through various fees for value-added services provided to our customers, fluctuations in Total volume will generally impact our revenue.

Total volume at constant currency: Total volume at constant currency is used as an indicator of performance of our business on a more comparable foreign currency exchange basis. Total volume at constant currency means Total volume adjusted for the impact of foreign currency exchange fluctuations. This measure helps provide better comparability of business trends year-over-year, without the impact of fluctuations in foreign currency exchange rates. Foreign currency exchange impact in the current period is calculated using prior period quarterly average exchange rates applied to the current period foreign currency amounts.

Forward-Looking Information

This press release contains “forward-looking information” and “forward-looking statements” (collectively, “Forward-looking information”) within the meaning of applicable securities laws, including Nuvei’s outlook on Total volume, Revenue, Revenue at constant currency, Organic revenue excluding digital assets and cryptocurrencies at constant currency, Organic revenue growth excluding digital assets and cryptocurrencies at constant currency, and Adjusted EBITDA for the three months ending March 31, 2023 and the year ending December 31, 2023 as well as medium and long-term targets on Revenue, Capital expenditures as a percentage of revenue, and Adjusted EBITDA margin. This forward-looking information is identified by the use of terms and phrases such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, or “continue”, the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking information contains these terms and phrases. Particularly, statements relating to the Paya acquisition, including expectations regarding anticipated cost savings and synergies and the strength, complementarity and compatibility with Nuvei’s business; of future results, performance, achievements, prospects or opportunities or the markets in which we operate, expectations regarding industry trends and the size and growth rates of addressable markets, our business plans and growth strategies, addressable market opportunity for our solutions, expectations regarding growth and cross-selling opportunities and intention to capture an increasing share of addressable markets, the costs and success of our sales and marketing efforts, intentions to expand existing relationships, further penetrate verticals, enter new geographical markets, expand into and further increase penetration of international markets, intentions to selectively pursue and successfully integrate acquisitions, and expected acquisition outcomes and benefits, future investments in our business and anticipated capital expenditures, our expectation to prioritize share repurchases with excess cash, our intention to continuously innovate, differentiate and enhance our platform and solutions, expected pace of ongoing legislation of regulated activities and industries, our competitive strengths and competitive position in our industry, expectations regarding our revenue, revenue mix and the revenue generation potential of our solutions, expectations regarding our margins and future profitability, our financial outlook and guidance as well as medium and long-term targets in various financial metrics, and the future impact of the COVID-19 pandemic is forward-looking information. Economic and geopolitical uncertainties, including regional conflicts and wars, including potential impacts of sanctions, may also heighten the impact of certain factors described herein.

In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances.

Forward-looking information is based on management’s beliefs and assumptions and on information currently available to management, regarding, among other things, assumptions related to the Paya acquisition (including the Company’s ability to retain and attract new business, achieve synergies and strengthen its market position arising from successful integration plans relating to the Paya acquisition); the Company’s ability to otherwise complete the integration of the Paya business within anticipated time periods and at expected cost levels; the Company’s ability to attract and retain key employees in connection with the Paya acquisition; management’s estimates and expectations in relation to future economic and business conditions and other factors in relation to the Paya acquisition and resulting impact on growth in various financial metrics; assumptions regarding foreign exchange rate, competition, political environment and economic performance of each region where the Company operates; the realization of the expected strategic, financial and other benefits of the Paya acquisition in the timeframe anticipated; and the absence of significant undisclosed costs or liabilities associated with the Paya acquisition; and general economic conditions and the competitive environment within our industry. See also “Financial Outlook and Growth Targets Assumptions”.

Unless otherwise indicated, forward-looking information does not give effect to the potential impact of any mergers, acquisitions, divestitures or business combinations that may be announced or closed after the date hereof. Although the forward-looking information contained herein is based upon what we believe are reasonable assumptions, investors are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Nuvei’s financial outlook also constitutes financial outlook within the meaning of applicable securities laws and is provided for the purposes of assisting the reader in understanding management’s expectations regarding our financial performance and the reader is cautioned that it may not be appropriate for other purposes. Our medium and long-term growth targets serve as guideposts as we execute on our strategic priorities in the medium to long term and are provided for the purposes of assisting the reader in measuring progress toward management’s objectives, and the reader is cautioned that they may not be appropriate for other purposes.

Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond our control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors described in greater detail under “Risk Factors” of the Company’s annual information form filed on March 8, 2023 (the “AIF”). In particular, our financial outlook and medium and long-term targets are subject to risks and uncertainties related to:

• risks relating to our business and industry, such as the ongoing COVID-19 pandemic and the Russian invasion of Ukraine, including the resulting global economic uncertainty and measures and sanctions taken in response thereto;
• a declining level of volume activity and significant volatility in certain verticals, including digital assets, and the resulting negative impact on the demand for, and prices of, our products and services and the resulting effect on consumer spending trends;
• the rapid developments and change in our industry;
• intense competition both within our industry and from other payments methods;
• changes in foreign currency exchange rates, inflation, interest rates, consumer spending trends, supply chain challenges and other macroeconomic factors affecting our customers and our results of operations;
• Nuvei’s inability to successfully integrate the Paya business;
• legal proceedings that may be instituted related to the Paya acquisition and the impact of significant demands placed on management as a result thereof;
• the potential failure to realize anticipated benefits from the Paya acquisition;
• potential undisclosed costs of liabilities associated with the Paya acquisition, which may be significant;
• the failure to retain Paya’s personnel and customers;
• the rapid developments and change in our industry;
• Intense competition both within our industry and from other payments providers;
• challenges implementing our growth strategy;
• challenges to expand our product portfolio and market reach;
• challenges in expanding into new geographic regions internationally and continuing our growth within our markets;
• challenges in retaining existing customers, increasing sales to existing customers and attracting new customers;
• managing our growth effectively;
• difficulty to maintain the same rate of revenue growth as our business matures and to evaluate our future prospects;
• history of net losses and additional significant investments in our business;
• our level of indebtedness;
• any potential acquisitions or other strategic opportunities, some of which may be material in size or result in significant integration difficulties or expenditures;
• challenges related to a significant number of our customers being small-and-medium sized businesses (“SMBs”);
• concentration of our revenue from payment services;
• reliance on, and compliance with, the requirements of acquiring banks and payment networks;
• challenges related to the reimbursement of chargebacks from our customers;
• decline in the use of electronic payment methods;
• loss of key personnel or difficulties hiring qualified personnel;
• impairment of a significant portion of intangible assets and goodwill;
• increasing fees from payment networks;
• reliance on third-party partners to sell some of our products and services;
• misappropriation of end-user transaction funds by our employees;
• fraud by customers, their customers or others;
• the degree of effectiveness of our risk management policies and procedures in mitigating our risk exposure;
• the integration of a variety of operating systems, software, hardware, web browsers and networks in our services;
• the costs and effects of pending and future regulatory proceedings and litigation;
• challenges to secure financing on favorable terms or at all; and,
• measures determined in accordance with IFRS may be affected by unusual, extraordinary, or non-recurring items, or by items which do not otherwise reflect operating performance, making period-to-period comparisons less relevant.

Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein represents our expectations as of the date hereof or as of the date it is otherwise stated to be made, as applicable, and is subject to change after such date. However, we disclaim any intention or obligation or undertaking to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.

Financial Outlook and Growth Targets Assumptions

The financial outlook for the three months ending March 31, 2023, and the year ending December 31, 2023, and specifically the Adjusted EBITDA, as well as the Adjusted EBITDA margin long-term growth target, reflect the Company’s strategy to accelerate its investment in distribution, marketing, innovation, and technology. When measured as a percentage of revenue, these expenses are expected to decrease as our investments in distribution, marketing, innovation, and technology normalize over time.

Our financial outlook and growth targets are based on a number of additional assumptions, including the following:

• our results of operations and ability to achieve suitable margins will continue in line with management’s expectations;
• we will continue to effectively execute against our key strategic growth priorities, without any material adverse impact from macroeconomic trends on our or our customers’ business, financial condition, financial performance, liquidity nor any significant reduction in demand for our products and services;
• losses owing to business failures of merchants and customers will remain in line with anticipated levels;
• existing customers growing their business and expanding into new markets within selected high-growth eCommerce end-markets, including online retail, online marketplaces, digital goods and services, regulated online gaming, social gaming, financial services and travel;
• economic conditions in our core markets, geographies and verticals, including resulting consumer spending and employment, remaining at close to current levels;
• assumptions as to the value of digital assets, foreign exchange rates and interest rates, including inflation;
• higher volatility and lower volume in digital assets; Nuvei expects the contribution of digital assets will continue to decline and to represent no more than 5% of revenue going forward;
• Nuvei’s ability to retain and attract new business, achieve synergies and strengthen its market position arising from successful integration plans relating to the Paya acquisition;
• management’s estimates and expectations in relation to future economic and business conditions and other factors in relation to the Paya acquisition and resulting impact on growth in various financial metrics;
• assumptions regarding competition, political environment and economic performance of each region where Nuvei operates;
• the realization of the expected strategic, financial and other benefits of the Paya acquisition in the timeframe anticipated;
• the absence of significant undisclosed costs or liabilities associated with the Paya acquisition
• our ability to cross-sell and up-sell new and existing products and services to our existing customers with limited incremental sales and marketing expenses;
• our customers increasing their daily sales, and in turn their business volume of our solutions, at growth rates at or above historical levels for the past few years;
• our ability to maintain existing customer relationships and to continue to expand our customers’ use of more solutions from our Native Commerce Platform at or above historical levels for the past few years;
• our ability to leverage our sales and marketing experience in capturing and serving customers in North America and large enterprises in Europe and enable customer base expansion by targeting large enterprises in North America, with a focus in eCommerce channels;
• our sales and marketing efforts and continued investment in our direct sales team and account management driving future growth by adding new customers adopting our technology processing transactions in existing and new geographies at or above historical levels;
• our ability to further leverage our broad and diversified network of partners;
• our ability to expand and deepen our footprint and to add new customers adopting our technology processing transactions in geographies where we have an emerging presence, such as Asia Pacific and Latin America;
• our ability to expand and keep our portfolio of services technologically current through continued investment in our Native Commerce Platform and to design and deliver solutions that meet the specific and evolving needs of our customers;
• our ability to maintain and/or expand our relationships with acquiring banks and payment networks;
• our continued ability to maintain our competitiveness relative to competitors’ products or services, including as to changes in terms, conditions and pricing,
• our ability to expand profit margins by reducing variable costs as a percentage of total expenses, and leveraging fixed costs with additional scale and as our investments in, for example, direct sales and marketing normalize;
• increases in volume driving profitable revenue growth with limited additional overhead costs required, as a result of the highly scalable nature of our business model and the inherent operating leverage;
• our continued ability to manage our growth effectively;
• we will continue to attract and retain key talent and personnel required to achieve our plans and strategies, including sales, marketing, support and product and technology operations, in each case both domestically and internationally,
• our ability to successfully identify, complete, integrate and realize the expected benefits of past and future acquisitions and manage the associated risks;
• the absence of adverse changes in legislative or regulatory matters;
• our continued ability to upskill and modify our compliance capabilities as regulations change or as we enter new markets, such as our customer underwriting, risk management, know your customer and anti-money laundering capabilities, with minimal disruption to our customers’ businesses;
• our liquidity and capital resources, including our ability to secure debt or equity financing on satisfactory terms; and,
• the absence of adverse changes in current tax laws.

Contact:

Investors

Chris Mammone, Head of Investor Relations

IR@nuvei.com

Statements of Profit or Loss and Comprehensive Income or Loss Data

(in thousands of U.S. dollars except for shares and per share amounts)

Reconciliation of Adjusted EBITDA and Adjusted EBITDA less capital expenditures to Net Income

(In thousands of U.S. dollars)

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In its 2023 Global Retail E-Commerce Forecast, eMarketer forecasts a slightly better outlook for digital retailers compared to the slumps of 2022. But the annual double-digit growth rates of the 2010s are long gone. 

How will e-commerce retailers fare over the next few years following an era of volatility? It depends on e-marketers’ ability to meet consumers in the marketplaces, regions and channels they prefer most. 

Global E-Commerce Growth Rates are Now in the Single Digits

It appears analysts and marketers alike must readjust their expectations for the years ahead. While eMarketer originally predicted an e-commerce growth rate of 9.7% for 2022, the industry’s growth rate only reached 7.1% last year, representing a nearly flat share of total retail. In response, analysts have reduced their forecasts for the next few years, including this year’s $6 trillion e-commerce sales prediction.  

Where is this downward trend coming from? According to eMarketer, China’s economic despair is driving the decline, as it accounts for over half of the global total. 

But the news isn’t all bad. While lackluster, the economic environment is expected to stabilize this year with retail growth to follow. In fact, global sales will still increase by $483 billion this year, which is more than the entire US market in 2017. 

The Gap Between E-Commerce and Retail Has Narrowed

Last year, consumers more than made up for in-store retail’s nearly nonexistent 2020. As pandemic-era regulations faded, consumers headed back to stores in droves, driving the gap between e-commerce and retail sales growth to just two-tenths of a percentage point. 

E-commerce lost ground in countries around the world last year, particularly in Western Europe and East Asia. Driven down by poor economic conditions, the war in Ukraine, inflation, the energy crisis, exchange rate abnormalities and lower in-store prices, Western Europe’s overall e-commerce market decreased by 3.9%. Likewise, “zero-COVID” pandemic control measures debilitated consumer spending in China last year. 

This certainly doesn’t mean e-commerce has lost its appeal to consumers. Online retail will still outperform brick-and-mortar, but to a lesser degree. It’s up to e-commerce retailers to reach audiences with the most targeted strategies in the most promising markets. 

Asia-Pacific Makes Up 70% of the Top Countries for E-Commerce Sales Growth

Of the top 10 countries for e-commerce sales growth in 2023, seven are in Asia-Pacific. The Philippines and India top the list for the next three years, with Malaysia and Thailand hovering in the top five. 

Digital shoppers in India will spend $21.7 billion more this year than last year, while Indonesia’s spending will increase by $16.19 billion. If your e-commerce strategy is global, eMarketer recommends seeking out these hotspots, in addition to Mexico and Brazil. These four emerging markets promise significant scale that will grow by double digits this year. 

Limited to the US? That’s ok too. Even though growth rates are lower, the mature US market has become more reliable than China. In fact, eMarketer predicts the US is set for higher ecommerce growth than China for many years to come. 

Adapt to Changing Markets with Multichannel Agility

The most important takeaway from eMarketer’s findings? Readjust your expectations for the years ahead and refocus on safe bets. It’s also more important than ever to find ways to reduce friction and increase agility. 

“In order to increase their agility and address an unpredictable macro environment, many brands and retailers are leaning even further into their digital strategy and focusing on e-commerce innovation to better use data for real-time decision-making,” says Peter Elmgren, Chief Revenue Officer at CommerceHub. 

Together, CommerceHub and ChannelAdvisor offer the industry’s leading solution for expanding into new markets, launching new channels and executing advanced e-commerce strategies. 

Download eMarketer’s full 2023 Global Retail E-Commerce Forecast for more data points, charts and details about growth in global markets.

The post What 2023 Global Retail E-Commerce Holds, According to eMarketer appeared first on ChannelAdvisor.

Australian businesses operating locally and globally will benefit from Nuvei’s cutting-edge, agile technology that’s built to accelerate their growth. Nuvei’s payments platform enables businesses to optimize operating costs and boost conversion rates by maximizing payments acceptance, minimizing risk, and enhancing the consumer payment experience. This includes offering all local and relevant payment methods.

Launching in Australia is the latest initiative from Nuvei as it continues to grow its presence and capabilities in the Asia-Pacific (APAC) region, following its successful launch in Singapore and Hong Kong in 2022.

Nuvei Chair and CEO Philip Payer commented on the announcement: “Our mission is to help our customers connect with their customers regardless of location, payment method or currency. Launching in Australia is a natural step for our continued expansion in APAC, having already established a strong and growing presence in the region.”

Nuvei is launching in Australia having secured regulatory and scheme licenses to support customers with local acquiring in the country.

Fayer continued: “We know the role local acquiring plays in payments optimization, which is why Nuvei’s local acquiring network across the globe is unparalleled. Being able to support merchants in Hong Kong, Singapore, and now Australia with local acquiring solutions demonstrates our commitment to our customers’ growth.”

While debit and credit card payments are the preeminent online payment method for Australian consumers, alternative payment methods (APMs) are also growing in popularity. Nuvei technology enables businesses to accept all the relevant payment methods in the region (including local currencies for cross-border transactions) in addition to card acquiring. This includes New Payments Platform (NPP), Australia’s account-to-account fast payments open access infrastructure, giving consumers even more choice over their payments experience.

Benefits of NPP for consumers include instant, 24/7/365 settlements, making this payment method particularly relevant for industries where payouts are critical to the overall payments experience.

Australia is a significant market for eCommerce in APAC and globally. It is the world’s 12^th largest economy and had an eCommerce market value of $47bn (with 8.9% growth)[1] in 2022. Internet penetration in Australia is 91%[2] and over 90% of Australian internet users make online purchases.

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 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.

For more information, visit www.nuvei.com

Contact: 

Public Relations

alex.hammond@nuvei.com

Investor Relations

IR@nuvei.com

[1] https://www.savvy.com.au/australias-online-shopping-behaviour-report-2022/#:~:text=Australia’s%20online%20shopping%20industry%20is,retail%20therapy%20continues%20to%20skyrocket

[2] https://www.statista.com/statistics/680142/australia-internet-penetration/

The term refers to a company’s nimbleness in the face of change. Take the COVID-19 pandemic, for instance. When quarantining kept consumers at home and caused stores to shut down, businesses that had failed to digitally transform were left with no way to sell or connect with customers. Those that practiced organizational agility, however, were able to quickly pivot to online sales, direct-to-consumer (D2C) selling and even alternative manufacturing that addressed a societal need (e.g., apparel brands producing masks). 

What industry-changing event could come next? No one knows, making it crucial to stay organizationally agile for market changes big and small.

What Is Organizational Agility?

Organizational agility is a company’s ability to react and move quickly when the market changes. These changes can include everything from economic distress and emerging competition to new technology and shifting consumer behavior. 

The reason agility is so important is because failure to adapt can leave brands and retailers without the proper tools to do business, resulting in a loss of customers and revenue. Exercising organizational agility requires three key components:

• Foresight to predict and anticipate changes instead of letting them take you by surprise 
• Preparedness with the right tools and plan in place to pivot quickly
• Flexibility to move with changing times instead of holding on to “the way it’s always been done”

What Are the Risks of Failing to Stay Agile?

Organizational agility isn’t just about staying trendy or “keeping up with the times.” It’s about safeguarding your company to meet the changing needs of your customers and employees while staying resilient against factors that could derail your business — new competitors, changing legislation (e.g., General Data Protection Regulation) or economic downturns. 

Failure to adapt to industry and environmental changes results in:

• Decreased efficiency and security. Manual processes, workarounds and outdated policies lead to human error and slowed productivity. Worse, failure to automate operations or conduct regular check-ups on your business processes can lead to compliance issues and security breaches.

• Lost customers. Modern consumers demand savvy experiences — and they’re more than willing to jump ship if they don’t get them. Don’t have a mobile website? The 85% of US consumers who own a smartphone won’t be able to browse your products on the go. Companies that are hard to get in touch with also risk frustrated customers and the opportunity to build long-term loyalty. 

• Less revenue. No customers? No sales. New brands and retailers are joining the industry daily — all of whom were born in the digital age, making them that much more resilient. If customers can receive a better experience with a more modern brand, they will, eliminating your sales and resulting in poor reviews. 
• Employee shortages. Studies show that employees are 230% more engaged and 85% more likely to stay beyond three years in their jobs if they feel they have technology that supports them at work. Employees who are stuck making do with outdated technology or strategies that don’t account for industry changes risk losing talented employees to savvier competitors. 

What Are the Benefits of Organizational Agility?

It’s impossible to predict coming market changes, and there are a number of factors that can lead to a company’s demise. But organizational agility puts brands a step ahead of lagging competitors, resulting in a number of benefits beyond simply staying in business. 

Increase productivity and innovation

Preparing for changes that may come your way means you’re not reacting in the moment. When economic downturns occur or consumer behavior changes, you’ll be ready, freeing your team up to focus on other activities like customer experience or product innovation. Plus, with digital transformation and automation, your teams can reduce manual work, increasing productivity and operational efficiency. 

Win more customers

More than ever, consumers care about who they buy from and what they stand for. Demonstrating organizational agility in the midst of change shows customers you’re dedicated to serving their needs even when the environment is less than ideal. Offering tools like an app or expanding to channels where they shop most allows you to meet customers where they are and capture new audiences.  

Outlast competitors

Staying agile also allows you to bypass stagnant competitors and even win over their customers. When changes in the industry occur, organizational agility can mean the difference between thriving and merely surviving. 

Improve employee engagement

Agile brands empower their employees to look ahead, make modifications and prepare for change early and often. Plus, reliable e-commerce tech reduces daily frustrations, keeps employees connected and helps teams meet their goals more often. 

How Can Brands and Retailers Become More Agile?

Increasing your organizational agility is not an exact science. What it takes to become resilient differs across industries and companies. But in general, you can improve your nimbleness if you:

• Embrace change and disruption. Don’t fear change. Some of the cornerstones of commerce have come as a result of change: industrialization, e-commerce, social media and retail media networks, to name a few. Research shows organizations that embrace change face fewer obstacles during disruptions and even experience 15% more benefits. 

• Automate e-commerce. You won’t be ready for unplanned disruptions if you’re manually monitoring prices, updating listings or keeping spreadsheets of metrics. Automation and centralization is the modern marketer’s best friend, making it easy to meet the requirements of merchandising, marketing and advertising without constant upkeep. 

• Keep data at the ready. Data is absolutely critical to monitoring trends and anticipating changes. Without it, you’re stuck making guesses and hunches about your business position and next steps. Even spreadsheets and disparate metrics from each platform you sell on won’t cut it. Deep brand analytics give you increased visibility across your entire portfolio to grow sales, protect your brand’s reputation and manage your digital shelf presence.
• Have expert guidance in your corner. Not sure how to navigate the waters of change? You’re not alone. It helps to have guidance from those who have been there before. Look for e-commerce experts with decades of experience who can help you predict trends, protect against interruption and put a plan in place for realistic growth. 

ChannelAdvisor Keeps Your E-Commerce Business Ready for Anything

At ChannelAdvisor, we know the effects market change can have on brands and retailers because we witness it every day on the front lines of the industry. Our e-commerce platform gives you a complete multichannel solution to automate listings across channels, glean brand analytics, market against competitors and execute flawlessly on the digital shelf — all from a centralized solution. 

When COVID-19 hit, our customers, like Candleberry, myGoods and PureFormulas, were able to adapt to changing demand and protect their market position. Now, in the face of economic instability, we’re giving customers tools to stay resilient and increase their e-commerce execution. 

Will your company be agile enough to maintain stability when push comes to shove? Explore the ChannelAdvisor platform and Managed Services, or request a demo to start safeguarding your business today. 

The post What Is Organizational Agility? appeared first on ChannelAdvisor.

Consumer and merchant expectations are changing. The world is becoming increasingly digital and interconnected. Constant evolution is making people’s lives easier, and this sets high expectations. As a result, consumers and merchants are demanding speed, ease, and security across all devices and all services – and this extends to payments, whether these are made domestically or across borders.

With global ecommerce sales projected to reach USD 6 trillion by 2024, ecommerce growth is shaping the way we pay. 65% of ecommerce sales are transacted on a mobile device, and 80% of customers are interested in faster options to pay and be paid by businesses. 68% of sellers would become premium sellers to get paid in real time, according to research1, and this is especially the case within the cross-border market.

Apart from the well-known SWIFT, in recent years, the large card networks have also focused on bringing out more innovative, faster methods of moving money across borders, by leveraging card rails. Products like Visa Direct and Mastercard Send promise speedy, transparent, and frictionless cross-border money movement. Further to these, there are a wider variety of e-wallets that can facilitate multiple use cases within the cross-border space today. Many of these payment methods aim to facilitate cross-border payins and payouts in a frictionless, transparent, and cost-effective way, sometimes even instantly, and with the added benefit of funds receipt acknowledgment. This, in particular, is an area where legacy cross-border money movement companies fall short.

While still in their relative infancy yet continuing to evolve at a rapid pace, Open Banking APIs also hold much promise when it comes to revolutionising the cross-border payments space. Aside from the benefits associated with payment speed, transparency, and ease, Open Banking-enabled payments also bring additional KYC improvements, allowing businesses and banks to reduce the risks associated with transacting internationally. APIs can be used to check a customer’s identity or whether they can afford a transaction, for instance, enabling institutions to set precise limits.

What are the most frequently-encountered issues connected to payout systems, and how can these be solved or overwritten?

A number of challenges exist within the cross-border payout market today:

• UX – the user experience when making cross-border payments leaves much to be desired in many cases. The process is not often straightforward or intuitive, which can cause a lot of friction.
• Cost – typically, there is a great cost to merchants and consumers.
• Transparency – both when it comes to fees and where the funds are at any given point.
• Speed – cross-border payouts usually take multiple days to clear. In 2017, for 56% of disbursements, it took between 2 days to 14 days for recipients to receive their funds.
• Multiple processes – merchants have to manage a number of different processes, especially when the payment is sent across borders.

Thus, modern businesses need fast, intuitive digital experiences, with real-time payment capabilities integrated directly into existing apps, websites, or payment solutions – all functional at a global scale. Visa Direct and Mastercard Send offer a great alternative to legacy systems, and the benefits they provide help mitigate the challenges typically associated with cross-border payments. Because these systems have been built for the modern age of money movement, they do not rely on legacy bank technology, completely bypassing the correspondent banking messaging system created by SWIFT. As such, they offer lower costs, superior customer UX for both the beneficiary and the remitter, real-time money movement worldwide to billions of financial accounts, and end-to-end security and a compliance framework for both senders and receivers that is immediately available, without complex integration or implementation effort.

How can payouts to cards keep up with the rising need for instant payments?

We believe that instant cross-border payouts to consumer accounts leveraging card networks are helping to further drive the evolution of payments. Moreover, we are certain that instant payouts to cards are here to stay, enabling speedy payments across a variety of use cases and supporting both domestic and cross-border payments underpinned by secure and reliable global networks. They help drive digital experiences and provide frictionless, secure, superior customer experience while enabling real-time transfers 24/7 with funds available to eligible debit or prepaid cards in as little as 30 minutes.

It’s important for merchants to work with a payment partner who is globally connected, innovative, and flexible, as instant payouts to cards have real potential to accelerate revenues for them. So merchants will seek to work closely with payment technology companies to ensure they are enabling cross-border instant payouts for their customers – or risk falling behind.

Come 2023 and beyond, what should merchants keep in mind when provisioning for a better customer experience?

Customer experience when it comes to payments is key for gaining and retaining customer loyalty, increasing conversions, and ultimately accelerating revenue for merchants. Creating a frictionless, intuitive, and mobile-enabled customer experience is no mean feat, and working with the right payment partner is key to achieving it.

At Nuvei, we work closely with our merchant clients to understand their needs and their customers’ payment preferences, while constantly optimising our solutions to deliver against these. By being flexible and agile, we provide the payment technology and insights our customers and partners need to succeed locally and globally, with one integration. Enabling our merchants to offer their customers a superior digital customer experience ensures they can extract more revenue out of every transaction, whether domestic or across borders.

This article was originally published in The Paypers. 

Consumers in Asia Pacific (APAC) are by far the most enthusiastic adopters of digital payments worldwide, increasing their use of at least one digital payment method in the last 12 months by 69%. Card payments remain the post popular in the region and APAC dominated the global card payments market last year with a 57.8% share of global card payments by value. For online businesses that already have a large customer base in APAC, working with an acquirer that holds local licenses in the region is critical to improving acceptance rates and increasing revenues. Looking at shopping and payment trends in Australia, Hong Kong and Singapore, it’s evident that establishing customer trust and loyalty via local acquiring in these regions will pave the way for further growth of digital payments and eCommerce across APAC.

Why APAC?

Business is booming

eCommerce across APAC has increased at a staggering rate since COVID19, when digital payments became a necessity and the preferred way to pay ever since. In the eCommerce sector alone, revenue is projected to reach US$2,139 billion in 2023, with an expected annual growth rate of 11.7% until 2027. This is great — and probably unsurprising — news for merchants across the globe, who will be looking to tap into this market if they haven’t already. Even if they have, local acquiring isn’t always a priority for merchants and in a digital payment hub like APAC, this could have a significant impact on a business’ revenue – as well as its relationship with customers.

So are digital payment methods

Card payments across APAC are expected to grow at a CAGR of 12.9% until 2025, reaching $39.7 trillion in 2025. Despite other alternative payment methods growing in popularity across the region, it’s clear that on and offline payments in APAC are still driven by credit and debit cards, with major card schemes including VISA, Mastercard, CUP and JCB. In Singapore, for example, 68% of e-commerce transactions take place via card, in Australia it’s 50%, while in Hong Kong cards have a usage rate of 93%. It’s important to note that digital wallet payments will amount to three-quarters of e-commerce payment methods and over half of POS payments in the Asia-Pacific region by 2025. In other words, card payments across APAC aren’t going anywhere anytime soon, making it more important than ever for merchants to use a payments platform that can provide local acquiring in these regions.

Cross-border trends

For those merchants considering expanding their business, APAC is a good place to start. Cross-border shopping continues to grow in popularity across the region and shows no signs of slowing down. In Singapore, for example, consumers are more likely to shop with international merchants than domestic ones, with 78% of online consumers having made at least one cross-border purchase.  Cross-border eCommerce makes up 55% of all sales in Singapore, suggesting that international merchants have excellent potential for growth in this market. Australia is not far behind, with 61% of consumers having shopped cross-border, which totals to a $4.2 billion market. Due to Hong Kong’s relatively small size, the island’s cross-border e-commerce market takes an astonishing quarter of all e-commerce transactions.

Whether merchants have an existing customer base in APAC or are looking to expand into this rapidly growing centre for eCommerce and digital payments, the benefits of working with a platform that offers local acquiring could be a gamechanger for online businesses.

Increase sales, boost revenue, gain trust

The not-so-secret formula for any business that wants to succeed. The significance of choosing a payment provider that has local acquiring in key regions should not be underestimated by merchants operating cross-border, who will gain a considerable competitive advantage in the following ways:

1. Increasing the number of approved transactions. Routing transactions through a local bank will lead to higher authorization rates for merchants. This is largely due to the higher rates of fraud that occur when making international transactions, resulting in banks declining payments. Inevitably, declined payments will more-often-than-not result in consumers shopping elsewhere, resulting in financial loss for merchants.

2. Avoiding cross-border fees. When the consumer’s issuing bank and the merchant’s acquirer are in different locations, this often results in an increase of transaction fees. Businesses could be charged an additional 1.4% per transaction, depending on variables such as currency and card issuer. In addition, consumers could be charged a foreign transaction fee (between 1%-3% of the purchase value) when they use their card abroad or pay for something online from a foreign merchant. Working with a local acquirer can minimize the chances of additional costs for both the merchant and the consumer.

3. Improving the customer experience. Working with a local acquirer would mean fewer hidden fees for the consumer, and therefore a more predictable, seamless checkout experience. In addition, since local acquiring can ensure higher acceptance rates, this could also drive customer loyalty and trust, encouraging consumers to make more purchases in the future.

To conclude, choosing the correct global payments provider for your growing business can boost sales and accelerate revenue at a rapid rate. In APAC in particular, where digital payments are increasing in quantity and type, consumers are looking for seamless checkout experiences – that means no hidden costs, no soft declines and no surprises when they shop. For businesses looking to expand in the region, local acquiring in the big three, Australia, Hong Kong and Singapore, could unlock growth across APAC, which still remains a largely untapped market for many international eCommerce businesses.

This article was originally published in Fintech News Singapore.

It’s the same with your e-commerce strategy. There are a number of key performance indicators (KPIs) to monitor to keep your program in top health. But the right mix of metrics? That depends on the goals and characteristics of each individual team.

We’ve put together 10 of the most common and important e-commerce metrics to watch, as well as a guide to help you better understand your brand analytics. You be the judge of which KPIs will lead to the greatest success for your program. 

What Are E-Commerce KPIs?

E-commerce KPIs are measurements that allow you to assess the success or failure of your digital strategy. 

These program components may include everything from social media ad conversions and return on advertising spend (ROAS) to fulfillment efficiency and delivery rates. From end to end, the e-commerce journey includes a mountain of data points for marketers to choose from.  

Whereas platforms like Google Analytics and Amazon Seller Central can provide you with key KPIs for their specific channels, brand analytics solutions allow you to see across the full breadth of your e-commerce program. 

Why Are E-Commerce KPIs Important?

It’s impossible to know where you’re headed if you don’t know where you currently stand.

Digital commerce metrics allow you to regularly assess the health of: 

• A campaign
• A channel (e.g., marketplace, website or social)
• An aspect of your e-commerce program (e.g., marketing, advertising or fulfillment)
•  Your overall e-commerce strategy

Armed with performance data, you can optimize these program components and make better decisions about sales, marketing, customer experience and more. Positive performance may prompt you to invest more in campaigns that work well, while negative performance calls your attention to areas that aren’t working.

No data means no visibility. Without e-commerce KPIs, you must rely on hunches and gut instincts to make important selling decisions.  

What Are the Most Important E-Commerce Metrics to Track?

Again, the top KPIs to track will differ between companies. A small boutique with a modest budget may want to pay more attention to its ROAS, while a national chain may be interested in global expansion metrics. However, here are a list of the top 10 e-commerce KPIs that most brands and retailers track:

1. Conversion rate

A conversion rate is the rate at which consumers “convert” or perform a desired action. This could include clicking a button, subscribing to your newsletter, completing a purchase or interacting with an ad, among many other actions. Conversion rates indicate whether or not certain parts of your program are resonating with customers. They are especially helpful in gauging performance of a recently modified component like a web page or ad.  

You can calculate conversion rate by dividing the number of conversions (or actions taken) by the number of viewers, visitors or interactions and multiplying by 100. 

Conversion rate = (conversions / interactions) x 100 

2. Customer acquisition cost (CAC)

Customer acquisition cost is the amount it costs you to acquire one new customer. Be sure to factor in every expense it requires to gain a new customer, from ad purchase and marketing costs to overhead and labor. 

It’s important to keep this number lower than your average order value (AOV) to ensure profit. Otherwise, it’s indicative of spending more than you’re bringing in.

To calculate this metric, divide your total cost of acquiring all new customers in a given campaign or channel by the number of customers acquired. 

CAC = total cost of customer acquisition / number of customers acquired 

3. Cost per acquisition (CPA)

Cost per acquisition is similar to CAC, but it assesses spend for consumers before they become paying customers. These leads or non-paying customers might include shoppers who click on an ad, but haven’t yet made a purchase. 

This metric is useful for identifying the cost of simply getting a consumer to engage with your brand. Use the following equation to calculate CPA:

CPA = total cost of lead acquisition / number of leads 

4. Average order value (AOV)

Average order value is the average amount your customers spend per order. Note that this KPI should not include things like tax or shipping — only the amount of revenue you receive from each order. 

Though simple, this is an important metric for better understanding your customers’ shopping habits and making a quick, yet efficient impact on your revenue. You can increase AOV by promoting: 

• Bundled products
• Buy two (or more), get one free promotions
• Discounts for reaching a minimum spend threshold 

Calculate your AOV by dividing revenue by total orders:

AOV = revenue / number of orders

5. Net profit

Calculating net profit is basic business. To make money, you have to bring in more revenue than you’re spending. That’s why net profit is a key indicator of your e-commerce program’s overall health.

Net profit = total revenue – total expenses 

6. Cost of goods sold (COGS)

Cost of goods sold (or cost of sales) is a manufacturing and production metric used to calculate the cost of producing or acquiring products. It includes the cost of materials and labor, but does not account for indirect expenses like distribution, overhead or marketing. It is an important metric for calculating gross profit and how efficient your company is at managing labor, supplies and production. 

Calculate this KPI with some basic addition and subtraction:

COGS = beginning inventory + sales − ending inventory 

7. Return on ad spend (ROAS)

Return on advertising spend is a key metric for determining ad campaign success. It measures the amount of money you make on a campaign for every dollar you spend. The higher the ROAS, the more successful the campaign. 

Average ROAS can change depending on the channel type (e.g., social media or web search), platform (e.g., Google or Facebook) or retail media network (RMN) (e.g., Amazon Advertising or Walmart Connect). Calculate ROAS with this equation:

ROAS = total ad sales / total ad spend 

Learn how to increase your ROAS and more in our comprehensive post. 

8. Return on investment (ROI)

Return on investment is similar to ROAS, but it can be applied to any investment the business makes (e.g., marketing software or company acquisition). Investors and business leaders often use this metric to determine how well an investment has performed. ROAS, on the other hand, is a very commerce-centric metric that focuses on the return of a particular ad campaign. Calculate ROI with the following formula:

ROI = (net income / cost of investment) x 100

9. Cart abandonment rate 

Here’s one metric you don’t want to be high. Cart abandonment rate measures how many shoppers fail to complete their purchase. A high rating can indicate:

• Shoppers found a better price somewhere else
• You don’t have enough payment options
• You don’t offer enough shipping options
• Your checkout process is too complex

Identify your cart abandonment rate by dividing the number of completed sales (not the dollar amount) by the number of carts and multiply by 100.

Cart abandonment rate = (sales / carts) x 100 

Luckily, reducing your cart abandonment rate is one of the easiest and most impactful ways to boost revenue. By integrating more payment options, rethinking fulfillment or improving your checkout experience, you can knock down the roadblocks on consumers’ path to purchase. 

10. Customer lifetime value (CLV)

Customer lifetime value is one of the most highly coveted marketer KPIs — but it’s also one of the most difficult to compute. CLV measures long-term customer retention and is an indication of brand loyalty. It tells you how much a consumer will spend with your company over their time as a customer. 

If your CLV is close to your AOV, it means customers are only making one or two purchases from you over their lifetime. If CLV is significantly higher than AOV, it indicates repeat purchases and total value that far exceeds an individual purchase amount. Use this formula to determine CLV:

Customer lifetime value = (customer value x average customer lifespan)

What makes CLV difficult to compute is determining customer value and how long they typically patronize your brand. Calculate customer value by multiplying the average purchase value by the average number of purchases:

Customer value = average purchase value x average number of purchases)

Which E-Commerce KPIS Should You Measure? ChannelAdvisor Can Help.

It’s nice to have metrics on hand, but you’re a marketer — not a mathematician — and calculating each KPI manually is unsustainable. While platforms like Amazon and Google provide helpful campaign metrics, they don’t provide a full picture of your e-commerce program. 

ChannelAdvisor provides a suite of tools to gauge your company’s performance. With a real-time picture of each part of your program and expert guidance from Managed Services, you can make better decisions for managing your digital shelf and growing sales.  

Contact us for a demo of the ChannelAdvisor platform today.

The post 10 E-Commerce KPIs to Measure appeared first on ChannelAdvisor.

MONTREAL, February 22, 2023 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that it has completed its acquisition of Paya Holdings Inc. (“Paya”) (Nasdaq: PAYA). Paya amplifies Nuvei’s existing growth strategy and expands its reach into new underpenetrated and non-cyclical verticals where Nuvei’s proprietary technology is well positioned to accelerate customer growth.

Paya is a leading U.S. provider of integrated payment and frictionless commerce solutions that processed $50 billion in annual payment volume last year, mainly in high growth verticals such as healthcare, non-profit, government, utilities, and other business-to-business (“B2B”) end markets. Nuvei and Paya are highly complementary with respect to geographies, capabilities to offer to customers and partners, and the end-markets and verticals that each currently serve.

Nuvei Chair and CEO Philip Fayer commented, “This is an important milestone for Nuvei as we continue to build a preeminent payment technology provider with strong positions in global eCommerce, Integrated Payments and B2B. I’m thrilled to officially welcome our new colleagues from Paya to the Nuvei family. We have been working diligently on our integration planning, and we are ready to begin the next step on this exciting journey as a single, unified team.”

Paya Reports Results for the Full Year 2022 At the High End of its Outlook Range

On February 21, 2023, Paya filed, with the Securities and Exchange Commission, its Annual Report on Form 10-K for the year ended December 31, 2022. Calculated results for the three months and reported results for the year ended December 31, 2022 are summarized here.

* Payment volume is defined by Paya as the total dollar amount of all payments processed by its customers through its services.  This measure is not recognized under U.S. GAAP and does not have a standardized meaning prescribed by U.S. GAAP and therefore may not be comparable to similar measures presented by other companies. See “Non-IFRS, Non-U.S. GAAP and Other Financial Measures.”

** Adjusted EBITDA for Paya represents earnings before interest and other expense, income taxes, depreciation, and amortization, or EBITDA, and further adjustments to EBITDA to exclude certain non-cash items and other non-recurring items that Paya management believes are not indicative of ongoing operations to come to Adjusted EBITDA.  This measure is not recognized under U.S. GAAP and does not have a standardized meaning prescribed by U.S. GAAP and therefore may not be comparable to similar measures presented by other companies. See “Non-IFRS, Non-U.S. GAAP and Other Financial Measures.”

Nuvei Anticipated Results for Fourth Quarter and Fiscal Year 2022

As Nuvei finalizes its normal closing procedures for the fourth quarter and fiscal year ended December 31, 2022, the Company anticipates Total volume¹, revenue and Adjusted EBITDA^[1] to be in line with its latest outlook range included in its third quarter 2022 earnings release. The foregoing is based on information available to the Company as of the date of this release. See “Anticipated Results Information.”

Nuvei to Announce Fourth Quarter and Fiscal Year 2022 Results on March 8, 2023

Nuvei will release its fourth quarter and fiscal year 2022 financial results before market open on Wednesday, March 8, 2023. Management will host a conference call and webcast to discuss these results and outlook at 8:30 am ET that same day. Hosting the call will be Philip Fayer, Chair and CEO, and David Schwartz, CFO.

The conference call will be webcast live from the Company’s investor relations website at https://investors.nuvei.com under the “Events & Presentations” section. A replay will be available on the investor relations website following the call.

The conference call can also be accessed live over the phone by dialing 877-425-9470 (US/Canada toll-free), or 201-389-0878 (international). A replay will be available approximately one hour after the conclusion of the call and can be accessed by dialing 844-512-2921 (US/Canada toll-free), or 412-317-6671 (international); the conference ID is 13735177. The audio replay will be available through Wednesday, March 22, 2023.

Presentation of Financial Information

All dollar amounts set forth in this press release are in United States dollars.

Paya’s financial information for the calculated three months ended December 31, 2022 presented herein has been derived by subtracting Paya’s unaudited interim consolidated financial information from its Quarterly Report on Form 10-Q for the nine months ended September 30, 2022 from its audited consolidated financial information from its Annual Report on Form 10-K for the year ended December 31, 2022.

Nuvei’s financial statements are prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”). Paya’s financial statements are prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”), and any financial information of Paya included in this press release has been derived from Paya’s annual or interim financial statements prepared in accordance with U.S. GAAP and has been prepared using accounting policies that are consistent with U.S. GAAP. IFRS differs in certain material respects from U.S. GAAP. The financial information of Paya presented in this press release has not been adjusted to give effect to the differences between U.S. GAAP and IFRS or to accounting policies that comply with IFRS and as applied by Nuvei, nor has such financial information been conformed from accounting principles under U.S. GAAP to IFRS as issued by the IASB, and thus may not be directly comparable to Nuvei’s financial information prepared in accordance with IFRS.

Non-IFRS, Non-U.S. GAAP and Other Financial Measures

The information presented in this press release includes non-IFRS financial measures, and supplementary financial measures, of Nuvei, namely Nuvei Adjusted EBITDA and Nuvei Total volume. These measures are not recognized measures under IFRS and do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies, including Paya’s. Rather, these measures are provided as additional information to complement IFRS measures by providing further understanding of our results of operations from our perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of the Company’s financial statements reported under IFRS. These measures are used to provide investors with additional insight of Nuvei’s operating performance and thus highlight trends in Nuvei’s core business that may not otherwise be apparent when relying solely on IFRS measures. Nuvei also believes that securities analysts, investors and other interested parties frequently use these non-IFRS and other financial measures in the evaluation of issuers. Nuvei also uses these measures in order to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts and to determine components of management compensation. Nuvei believes these measures are important additional measures of its performance, primarily because they and similar measures are used widely among others in the payment technology industry as a means of evaluating a company’s underlying operating performance.

The information in this press release also includes non-U.S. GAAP financial measures, and supplementary financial measures, of Paya, namely Paya Adjusted EBITDA and Paya Payment volume. These measures are not recognized measures under U.S. GAAP and do not have standardized meanings prescribed by U.S. GAAP and therefore may not be comparable to similar measures presented by other companies, including Nuvei’s. Rather, these measures are provided as additional information to complement U.S. GAAP measures by providing further understanding of Paya’s results of operations. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of Paya’s financial statements reported under U.S. GAAP. Paya discloses Paya Adjusted EBITDA because this non-U.S. GAAP measure is a key measure used by it to evaluate its business, measure its operating performance and make strategic decisions. Paya believes Paya Adjusted EBITDA is useful for investors and others in understanding and evaluating its operations results in the same manner as Paya. However, Paya Adjusted EBITDA is not a financial measure calculated in accordance with U.S. GAAP and should not be considered as a substitute for net income, income before income taxes, or any other operating performance measure calculated in accordance with U.S. GAAP. Using this non-U.S. GAAP financial measure to analyze Paya’s business would have material limitations because the calculations are based on the subjective determination of management regarding the nature and classification of events and circumstances that investors may find significant. In addition, although other companies in its industry may report measures titled adjusted EBITDA or similar measures, such non-U.S. GAAP financial measures may be calculated differently from how Paya calculates non-U.S. GAAP financial measures, which reduces their overall usefulness as comparative measures. Because of these limitations, you should consider these non-U.S. GAAP financial measures alongside other financial performance measures, including net income and Paya’s other financial results presented in accordance with U.S. GAAP.

Non-IFRS and Non-U.S. GAAP Financial Measures

Nuvei Adjusted EBITDA: Nuvei uses Adjusted EBITDA as a means to evaluate operating performance, by eliminating the impact of non-operational or non-cash items. Adjusted EBITDA is defined as net income (loss) before finance costs (recovery), finance income, depreciation and amortization, income tax expense, acquisition, integration and severance costs, share-based payments and related payroll taxes, loss (gain) on foreign currency exchange, and legal settlement and other.

Paya Adjusted EBITDA: represents earnings before interest and other expense, income taxes, depreciation, and amortization, or EBITDA, and further adjustments to EBITDA to exclude certain non-cash items and other non-recurring items that management believes are not indicative of ongoing operations to come to Adjusted EBITDA.

Supplementary Financial Measures

Nuvei and Paya monitor the following key performance indicators to help them evaluate their business, measure their performance, identify trends affecting their business, formulate business plans and make strategic decisions. These key performance indicators may be calculated in a manner that differs from similar key performance indicators used by other companies.

Nuvei Total volume: Nuvei Total volume and similar measures are used widely among others in the payments industry as a means of evaluating a company’s performance. Nuvei defines Nuvei Total volume as the total dollar value of transactions processed in the period by customers under contractual agreement with it. Nuvei Total volume does not represent revenue earned by Nuvei. Total volume includes acquiring volume, where Nuvei is in the flow of funds in the settlement transaction cycle, gateway/technology volume, where it provides its gateway/technology services but are not in the flow of funds in the settlement transaction cycle, as well as the total dollar value of transactions processed relating to APMs and payouts. Since Nuvei’s revenue is primarily sales volume and transaction-based, generated from merchants’ daily sales and through various fees for value-added services provided to its customers, fluctuations in Nuvei Total volume will generally impact its revenue.

Paya Payment volume: Paya Payment volume is defined as the total dollar amount of all payments processed by Paya customers through its services.

Reconciliation of Paya Net income to EBITDA and Adjusted EBITDA

(a) Represents professional service fees related to mergers and acquisitions such as legal fees, consulting fees, accounting advisory fees, and other costs.

(b) Represents non-cash charges associated with stock-based compensation expense, which has been a significant recurring expense in Paya’s business and an important part of its compensation strategy.

(c) Represents costs associated with restructuring plans designed to streamline operations and reduce costs including costs associated with the relocation of facilities, certain staff restructuring charges including severance, certain executive hires, and acquisition related restructuring charges.

(d) Represents costs incurred to retire certain tools, applications and services that are no longer in use.

(e) Represents non-operational gains or losses, non-standard project expense, and non-operational legal expense.

Anticipated Results Information

Nuvei’s anticipated results for the fourth quarter and fiscal year ended December 31, 2022 are based on information available to the Company as of the date of this release. Because the Company’s normal closing procedures for the fourth quarter and fiscal year ended December 31, 2022 are still being finalized, its actual financial results may change as a result of such financial closing procedures, final adjustments, management’s review of results, and subsequent events, and results could differ materially from those expressed in or implied by the Company’s anticipations set forth in this release. During the course of the preparation of Nuvei’s financial statements and the notes thereto, additional items that require adjustments may be identified, and any such adjustments could be material. Accordingly, you should not place undue reliance on the Company’s anticipations set forth in this release, which constitute forward-looking statements. See “Forward-Looking Information.”

Forward-Looking Information

This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws, including anticipated results for the fourth quarter and full year 2022. Forward-looking information is identified by the use of terms and phrases such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, or “continue”, the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking information contains these terms and phrases. Particularly, the expected impact of the acquisition of Paya from a financial perspective in various financial metrics; expectations regarding anticipated cost savings and synergies; the strength, complementarity and compatibility of the Paya business with Nuvei’s existing business; other anticipated benefits of the proposed transaction; Nuvei’s business outlook, objectives, development, plans, growth strategies and other strategic priorities; Nuvei’s estimated position and strengths in integrated payments, B2B and global eCommerce; the estimated size of addressable markets; and statements relating to Nuvei’s future growth, results of operations, performance, business, prospects and opportunities, the expected synergies to be realized in connection with the acquisition of Paya; expectations regarding revenue synergies, up-selling and cross-selling opportunities and intention to capture an increasing share of addressable markets, and other statements that are not historical facts constitute forward-looking information. Economic and geopolitical uncertainties, including the Russia and Ukraine conflict, including potential impacts of sanctions, may also heighten the impact of certain factors described herein.

In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances. Forward-looking information is based on management’s beliefs and assumptions and on information currently available to management, including, among other things, assumptions about  Nuvei’s ability to retain and attract new business post-closing, achieve synergies and strengthen its market position arising from successful integration plans relating to the acquisition of Paya; Nuvei’s ability to otherwise complete the integration of the Paya business within anticipated time periods and at expected cost levels; Nuvei’s ability to attract and retain key employees in connection with the transaction; management’s estimates and expectations in relation to future economic and business conditions and other factors in relation to the transaction and resulting impact on growth in various financial metrics; assumptions regarding foreign exchange rate, competition, political environment and economic performance of each region where Nuvei and Paya operate; the realization of the expected strategic, financial and other benefits of the transaction in the timeframe anticipated; and the absence of significant undisclosed costs or liabilities associated with the transaction.

Although the forward-looking information contained herein is based upon what we believe are reasonable assumptions, investors are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information.

Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond our control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, actual financial results for the fourth quarter and fiscal year ended December 31, 2022 may change as a result of the completion of closing procedures, final adjustments, management’s review of results and subsequent events; Nuvei’s inability to successfully integrate the Paya business; legal proceedings instituted related to the acquisition of Paya and the impact of significant demands placed on management as a result thereof; the potential failure to realize anticipated benefits from the acquisition of Paya; potential undisclosed costs or liabilities associated with the acquisition, which may be significant; impact of acquisition-related expenses; the failure to retain Paya’s personnel and clients following the acquisition and risks associated with the loss and ongoing replacement of key personnel; and the risk factors described in greater detail under “Risk Factors” of the Company’s annual information form filed on March 8, 2022 and Paya’s most recent Annual Report on Form 10-K for the year ended December 31, 2022. The foregoing list is not exhaustive and other unknown or unpredictable factors could also have a material adverse effect on the performance or results of the Company.

Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein represents our expectations as of the date hereof or as of the date it is otherwise stated to be made, as applicable, and is subject to change after such date. However, the Company disclaims any intention or obligation or undertaking to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.

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 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.

For more information, visit www.nuvei.com

Contact: 

Public Relations

Alex Hammond

Alex.Hammond@nuvei.com

Investor Relations

Chris Mammone

IR@nuvei.com

[1] Adjusted EBITDA and Total volume are non-IFRS financial measures and supplementary financial measures, respectively. These measures are not recognized measures under IFRS and do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. See “Non-IFRS, Non-U.S. GAAP and Other Financial Measures.”

Amazon knows consumers prefer a broad menu of engaging content too. That’s why they created Amazon A+ Content, a way for vendors and sellers to enhance their content and swiftly capture the Buy Box. 

Does your Amazon content make the grade? Perhaps it’s time to increase your search ranking, conversion rates and customer trust with Amazon A+ Content. 

What Is Amazon A+ Content?

Amazon A+ Content is a promotional feature that helps vendors and sellers optimize their product listings with rich text, video and images. Introduced in 2016 as Amazon Enhanced Brand Content (EBC), A+ Content gives shoppers a clearer sense of who the seller is while giving brands a way to distinguish their listings from competitors with eye-catching images, comparison charts, HD videos and more. 

A+ Content appears below the fold on a selected product detail page. For vendors, it appears on the listing page under the title “From the Manufacturer,” whereas for sellers, it appears under “Product Description.”

Amazon offers two types of A+ Content:

Basic A+ Content

Basic A+ Content is free to all vendors and sellers. However, to be eligible for A+ Content, you must be registered as a professional seller and be the brand owner of the Amazon standard identification number (ASIN) you want to promote A+ Content on. 

Premium A+ Content (or A++ Content)

Premium A+ Content, also known as A++ Content, is an invite-only feature that gives brands access to 16 additional content modules, such as interactive images, slider galleries and video loops for an additional fee. This may include:

• High-quality videos (720p) up to three minutes in length
• HD product images and visuals available in seven different modules
• Enriched FAQs 
• Interactive experiences, including hotspot and carousel, which improve customer navigation with hoverable explanations and scrollability 
• Mobile- and voice-friendly product pages that integrate with Amazon Alexa

While A++ Content can be a great option for large brands and feature-heavy products, A+ Content works well for the majority of ASINs.

Why Use Amazon A+ Content?

On Amazon, better content means better results. A+ Content helps:

• Improve ad effectiveness. As a conversion tool, A+ Content enhances the impact of discovery tools like deals, ads and coupons, resulting in a two-pronged approach that boosts sales. 
• Increase conversion. Enhanced content leads to greater credibility and trust from consumers, resulting in higher conversion rates and better customer experiences. 
• Reduce returns and poor reviews. When customers know more about the product up front, they have the information to make more accurate buying decisions. This leads to more satisfactory experiences, improving reviews and reducing the need to return later on. 
• Encourage repeat purchases. Developing recognition among customers over time requires consistent brand experiences. Incorporating rich brand elements helps tie all your online channels together to build customer loyalty, leading to repeat purchases and higher customer lifetime value. 
• Go head-to-head with competition. Search pages and ads don’t always afford the opportunity to refute competitor claims or demonstrate top-tier benefits. A+ Content allows you to showcase comparisons in a table to directly address key product features and characteristics that multiple competitors may not have. 

What Are Best Practices for Amazon A+ Content?

A few key actions can help ensure your A+ Content captures consumers’ attention:

Make content skimmable.

Use compelling subheads to address important product features and short paragraphs that make it easy for shoppers to understand at a glance what they’ll gain from buying.

Combine text and images.

When describing a key feature or selling point, provide proof with an accompanying relevant image. It’s much easier for consumers to make buying decisions when they can see the value and quality of your products for themselves.

Highlight top-rated features.

Do your customers regularly rave about a particular feature? Is there something specific that leads them to repeat purchases? Regularly review your ratings and customer feedback to glean the most-appreciated product features and promote them to new prospective buyers. Just remember, quoting third parties is not allowed.

Keep content product-focused.

Amazon A+ Content is not the place to make subjective claims that your product is “the best” or “most popular.” Hone in on the top characteristics of your products and what attributes differentiate them from your competitors’ products. 

Tell your brand story with visuals.

Turn newcomers into brand advocates with visuals that showcase your company’s history, commitment, values and quality. It’s easy to include this information as text in regular product descriptions, but research shows shoppers are more compelled by visual examples. In fact, 88% of people now say high-quality product imagery is important. 

Provide seasonal tips and suggestions for extended use.

Use your Amazon A+ Content as a mini-inspiration board, showcasing new ways to use the product(s) outside its traditional purpose. This gives shoppers more reasons to buy, increasing conversions and trust in your brand to provide credible tips and ideas. 

How Can You Get Started With Amazon A+ Content?

More than half of all online shoppers now start their product searches on Amazon. That means optimizing product detail pages should be a key focus for every vendor. A+ Content is an easy and free way to provide a better buyer experience, increase customer engagement and ultimately increase your sales.

Not sure where to start?

ChannelAdvisor’s Managed Services for Marketplaces team provides personalized guidance as you create and curate A+ Content for your listings. Our dedicated in-house experts act as an extension of your team, strategizing, optimizing, analyzing and resolving errors to make your listings pop. Plus, our expertise comes from 20+ years of experience and partnership with Amazon and other marketplaces. 

Download our full guide to Getting Started With Amazon A+ Content for more tips and visuals for enhancing your listings. Or, check out our Comprehensive Guide to Amazon for a step-by-step intro to the marketplace giant.

The post Amazon A+ Content Best Practices appeared first on ChannelAdvisor.

That’s why policies like MAP and MSRP exist. But each one comes with subtle nuances. What’s the difference between these important pricing tactics? Let’s take a look. 

What Is a MAP Pricing Policy?

MAP (or minimum advertised price) is a policy a brand or manufacturer imposes on its sellers so they don’t advertise a product below a certain threshold. 

For instance, if an electronics manufacturer sets a MAP of $19.99 for its headphones, neither brick-and-mortar stores nor online sellers can advertise prices below it. If sellers violate a brand’s MAP policy, they may face a temporary ban from selling the product, the inability to order more stock or a termination of their relationship with the brand. 

Note that distributors can still technically sell below the price, they just cannot publicly advertise it. This may include purchases over the phone or behind a members-only website. 

MAP policies are most common in the US and Canada. This is because MAP is illegal in other countries like the UK, where it is seen as a type of price fixing.

What Are the Benefits of a MAP Pricing Policy?

The benefits of a MAP policy are many. They exist to keep commerce fair and to protect brands, retailers and consumers from profit loss, fraud and low-quality products. 

In addition, MAP policies: 

• Keep things competitive. MAP policies prevent one seller from undercutting another (or many). In turn, they keep a brand’s relationships with its sellers healthy while preventing monopolies.
• Protect profit margins. When there’s no MAP policy, sellers are forced to compete with vendors who continue to discount. This results in a “race to the bottom” that erodes margins for everyone. 
• Uphold brand integrity. Unsanctioned discounts not only diminish profit, but brand integrity as well. As prices drop, customers may begin to view the item as less valuable. This is especially true for high-end items like jewelry and electronics.
• Reduce customer complaints. No one wants to miss out on a good deal. When pricing is inconsistent, it creates customer confusion, increasing inquiries and complaints about finding cheaper prices and questions about whether or not certain sellers belong in your approved network. 
• Level the playing field. Setting price thresholds encourages more sellers and healthy competition. It also gives smaller resellers a chance to compete with major retailers. 

What is MSRP?

MSRP stands for “manufacturer’s suggested retail price” and is the list price the manufacturer recommends to sellers. It is a suggestion to keep prices uniform across the market and maintain profit margins. The MSRP also helps consumers assess prices across the board as they shop. 

A seller’s list price may fluctuate above or below MSRP from time to time. When demand is high, a seller might increase the price, while excess inventory may prompt discounted prices below MSRP. 

MAP vs. MSRP: How Are They Different?

MAP and MSRP have one key difference: obligation. Whereas a brand’s approved sellers must comply with its MAP policy to stay in good standing, MSRP is only a suggested threshold that sellers can choose when to follow.  

Here’s a chart to help you keep them straight:

*Note that while manufacturers won’t reprimand sellers who list outside of MSRP, retailers could still face the repercussions of pricing above the suggested threshold from customers who opt for lower prices. 

Should I Choose MAP or MSRP?

When it comes to MAP and MSRP, it’s not really a question of either/or. Both pricing limits are helpful for different purposes. 

Institute a MAP pricing policy when you have:

• Too many sellers on one marketplace — Marketplaces aren’t bound by MAP policies, so they’re happy to let multiple sellers list your products. If you don’t have a MAP threshold in place, it becomes difficult to manage all the sellers and track prices in real time. Worse, consumers may fail to identify fraudulent sellers.
• A wide range of prices — Fluctuating product prices may also mean wavering brand integrity in the eyes of the consumer. A MAP policy allows you to control the lower limit of your product prices to ensure they never slip to brand-risking levels. 
• Unknown sellers — An oversaturated seller network is a prime environment for a MAP pricing policy. It allows you to “police” retailers and their prices without having to manually check in on each one.  
• Disgruntled authorized sellers — Preserving your relationships with approved sellers should be your top priority. If they’re not recouping their investments because of unfair competition and thinning profit margins, you risk losing them as a reseller. 

It’s wise to set an MSRP if you sell high-price items like cars, electronics, designer apparel, etc. You can set the suggested retail price to anything you want, but some factors that may influence MSRP include:

• Materials and labor
• Transportation
• Demand
• Wholesale quantities
• Markup
• Sale culture (i.e., raising prices to make discounts look deeper to buyers)

Set Prices with Confidence by Partnering with ChannelAdvisor

Worried about price setting in a market that’s only becoming more saturated? Our automated repricers eliminate the need to monitor prices manually on marketplaces so you can spend time on strategy instead. 

Download our eBook, The Right Price at the Right Time: Best Practices for Pricing on Marketplaces, for an in-depth look at setting prices with confidence. Or, contact us today to learn how ChannelAdvisor Managed Services takes the stress out of creating an ironclad pricing strategy. 

The post MAP vs MSRP: What’s the Difference? appeared first on ChannelAdvisor.

Nuvei is a global payments technology company that is 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 key to optimization, Nuvei’s modular approach to payments makes it the most flexible, customizable payments services provider in the market.

Nuvei is headquartered in Montreal and is listed on both the Nasdaq and Toronto Stock Exchanges.

“We’re thrilled to welcome Nuvei as a long-term partner in time for the start of the 2023 Formula One season,” said Toto Wolff, Team Principal and CEO of the Mercedes-AMG PETRONAS Formula One Team. “Nuvei has a reputation as a leader in its field with a global footprint. It’s 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.”

Nuvei Chair and CEO Philip Fayer 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 that 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,” Fayer 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,” Richard Sanders, Chief Commercial Officer of the Mercedes-AMG PETRONAS Formula One Team added. “Fintech is a burgeoning industry and it’s exciting to be able to partner with one of the leading payment technology companies in this space. 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 as well as pit crew overalls and team clothing. Nuvei will also be able to utilise team members, including drivers Lewis Hamilton and George Russell, and Team Principal and CEO Toto Wolff for its wider 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 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 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.

For more information, visit www.nuvei.com

Contact: 

Public Relations

alex.hammond@nuvei.com

About Mercedes-AMG PETRONAS Formula One Team

Mercedes-AMG PETRONAS Formula One Team is the works team of Mercedes-AMG, competing at the pinnacle of motorsport – the FIA Formula One World Championship.

Formula One is a sport like no other. Combining elite teamwork, cutting-edge technologies and innovation, high-performance management and exceptional driving skill, teams develop race cars capable of competing against their rivals in a high-octane environment that spans upwards of 20 races across five continents throughout each season.

The Mercedes-AMG PETRONAS Formula One Team, based across Technology Centres at Brackley and Brixworth in the United Kingdom, brings together over 1,000 dedicated and determined people that design, develop, manufacture and race the cars driven by seven-time World Champion Lewis Hamilton and Grand Prix winner, George Russell.

Winning seven consecutive double Drivers’ and Constructors’ World Championships from 2014 to 2020 and securing a record-breaking eighth consecutive Constructors’ Championship success in 2021, the Team is one of the most successful in the sport’s history.

Between returning as a Constructor in 2010 and the end of the 2022 season, the Mercedes-AMG works team has scored 116 wins, 264 podium finishes, 128 pole positions, 91 fastest laps and 54 one-two finishes from 259 race starts.

Contact:

Bradley Lord
Strategic Communications Director
blord@mercedesamgf1.com +44 (0) 7785 682 893

The eCommerce specialist has integrated Hurricane’s data enhancement solution Zephyr which enables shipment data sets to be complete, accurate and fully compliant with global regulations.

The integration of Zephyr is particularly timely with the second release of Import Control System 2 (ICS2) coming into effect on March 1, 2023.

The second release requires advance electronic data including product descriptions and HS6 codes for all consignments coming to or via the European Union by air.

Asendia USA is providing Hurricane’s Zephyr solution to its eCommerce customers as a value-add service, enabling them to achieve frictionless cross-border trade at a time when customs authorities are getting tougher regarding the quality of data provided.

Bob Puppa, Chief Operating Officer of Asendia USA, said: “Asendia USA is all about empowering our customers to grow across borders through the provision of a range of eCommerce and mail delivery services.

“Key regulatory events, including the upcoming ICS2 second phase, mean that complete and accurate data, including HS codes, is a fundamental requirement to ensure that our customers’ goods can move unhindered by customs delays wherever they are destined in the world.

“Hurricane’s data enhancement solution Zephyr is already making a difference and is a good fit with our wider range of customized solutions that reduce costs, improve transit times and provide a superior customer experience.”

Robert Dundas, Hurricane’s Business Development Director, said: “Hurricane is delighted to have been engaged by Asendia USA to partner with them on the integration of Zephyr into their business.

“We worked closely with the Asendia USA team through several phases of testing to ensure that our product exactly met their requirements.

“The Asendia USA team recognised the importance of having complete and accurate HS codes, which the ICS2 second release has as a mandatory requirement.”

The post Asendia USA selects Hurricane Commerce for HS code look-up appeared first on Hurricane Commerce.

One surefire way to gauge campaign and advertising success? ROAS.

Return on advertising spend (ROAS) is the gold standard for winning across e-commerce advertising platforms. 

What Is ROAS?

ROAS is the amount of money you make on an advertising campaign for every dollar you spend. The higher the ROAS, the more successful the campaign. 

Average ROAS can change depending on the channel type (e.g., social media or web search), platform (e.g., Google or Facebook) or retail media network (RMN) (e.g., Amazon Advertising or Walmart Connect). 

What Formula Is Used to Calculate ROAS?

You can calculate ROAS with a simple formula:

ROAS = Total ad sales / total ad spend 

Total ad sales is everything you generated from a campaign. Total ad spend includes the cost to create the ad, the bid amount, vendor fees, affiliate commissions and related expenses. 

For example, if you spent $500 to advertise a product, and you made $1,000 on that campaign, your ROAS would be 2:

$1,000 ad sales / $500 ad spend = 2

You can also express ROAS as a ratio (2:1) or multiple (2x). ROAS above 1 represents a profitable campaign, whereas figures below 1 signify the campaign did not recover the cost spent. 

How Is ROAS Different From ROI or Conversion Rate?

ROAS differs from return on investment (ROI) because it’s calculated based on each individual campaign, not your overall investment. This means ROAS is a more granular metric, whereas ROI provides the bigger picture. It is also the inverse of advertising cost of sales (ACoS), which is a percentage used to determine ad cost efficiency. 

Conversion rate is a valuable metric for calculating traffic to your ads as opposed to spend. Conversion rate is calculated by dividing the total number of clicks on your ad by the total number of conversions. A high conversion rate signifies you’re targeting the right audience. But without tracking if the visitors made a purchase, it can’t tell the full story of your ad’s performance.  

What Is an Ideal ROAS?

Your ideal ROAS will depend on your advertising goals. You can calculate the minimum ROAS you need to achieve for a campaign to be successful. Start by calculating your campaign’s break-even point — before factoring in advertising costs:

Break-even point = Sale price – (cost of goods sold + any non-advertising fees)

Then, divide the sale price by the break-even point to determine minimum ROAS. The result is what you must achieve in ROAS to run a profitable campaign. 

Minimum ROAS = Sale price / break-even point

Your ROAS may also differ depending on your industry’s average profit margin. For example, high-dollar items like jewelry may naturally garner a much higher ROAS than toys. 

Target ROAS also depends on your objectives, ranging from brand awareness to revenue generation.

See how: AJ Tack increases sales 236%, boosting Amazon ROAS 28% with ChannelAdvisor.

How Can You Increase ROAS?

Math is math. You can only improve ROAS by increasing ad sales or lowering ad costs. But there are many ways to achieve both:

• Choose the right audience. If shoppers aren’t converting, perhaps they’re not the right audience. Use multiple markers to target your audience, including location, device or age. Then, experiment with different combinations to find the ideal segmentation.

• Refine keyword targeting. Research and identify the right keywords for your brand and individual products. Use long-tail terms to engage higher-quality traffic. You can also elect to rank for keywords that indicate high purchase intent. 

• Automate bidding. Lower costs by reducing the labor necessary to make and modify bids. An automated bidding solution allows you to create rules that adjust bids for targets based on your profitability and traffic goals. 
• Streamline paths to purchase. Make it easier for potential customers to convert. Optimize landing pages so it’s clear to the shopper where they’ve landed, what they’re purchasing, who your brand is and what they need to do to complete the purchase (e.g., “Buy Now” or “Add to Cart”). Reaching consumers on nontraditional e-commerce channels? Shoppable media solutions give you a way to funnel traffic straight from social media platforms to your site or preferred retailers. 
• Stop paying for low-value clicks. If you have to pay for every click, eliminate the clicks that don’t lead to sales. Review past performance data to identify “negative keywords” so these searches don’t trigger your ad, forcing you to pay for clicks that don’t convert. 

What If You Don’t Achieve a High ROAS?

Not every campaign requires a high ROAS. If your goal is to increase brand awareness, a lower ROAS isn’t necessarily a bad thing, as consumers are still discovering your product(s). You should also factor in customer lifetime value (CLV), which will generate more revenue over time, making a low ROAS on the customer’s initial conversion trivial. 

Where Can You Get Expert Advertising Guidance? ChannelAdvisor.

You have enough to worry about without manually monitoring keywords and ad performance. ChannelAdvisor’s combination of proven technology and expertise help you automate advertising to lower costs and increase ROAS. Our team of certified Digital Marketing experts can help manage and improve the efficiency of your advertising efforts with Google Shopping and paid search expertise. Plus, we offer Amazon Advertising specialization, calling on our nearly 20-year partnership with the marketplace to help you win the Buy Box. 

Need help improving your Amazon Advertising? Learn more in our post, What Is a Good ROAS on Amazon? Or contact us today to talk to an expert. 

The post What Is a Good ROAS? appeared first on ChannelAdvisor.

Survey data shows that the majority (76%) of global consumers regularly use multiple marketplaces for browsing, shopping or buying. But that’s not the only place they frequent. The number of digital touchpoints is on the rise too, as a whopping 82% of consumers visit more than two websites on their buying journey before making a purchase. 

How can you stand out as consumers’ shopping footprint continues to expand? Through retail media, the rising star among advertising channels. 

In our recent webinar, How Brands Can Boost Product Visibility and Sales in 2023 & Beyond, we take an in-depth look at retail media’s impact thus far and the four elements of making your program successful. 

The 4 Elements of Retail Media Success

1. Don’t neglect your product content.

We know you’ve heard it over and over — but your product content is truly the foundation of every campaign. That’s because great content influences every performance metric, from showing up in search results to increasing conversion to strengthening ad relevancy. Product content best practices encourage you to: 

• Provide six or more clear, high-quality images
• Use at least 80 characters in titles with product-identifying terms
• Write with detail, proactively answering questions shoppers might have
• Improve “skimmability” with concise, catchy bullets that simplify and describe the product 

2. Refine targeting on product detail pages (PDPs) with Sponsored Products.

On Amazon, Sponsored Products are a great way to defend your brand against competing pages. They provide optimal product page coverage by:

• Targeting your own Amazon standard identification numbers (ASINs) to eliminate competitor real estate
• Providing a boost with high impression placement to increase conversion from other paid sources like Sponsored Brands or Sponsored Display

Additionally, you can update the product page bid modifier to be more aggressive on your product page placements. 

Bonus: Don’t forget other Amazon ad types. Use Sponsored Display Ads to target competitors with placements right below the Buy Box. Or, use Sponsored Brand Video to welcome shoppers and show off your most engaging digital content. 

3. Clean up your account structure to enable automation. 

Not all campaigns are the same. But generally, a well-planned account structure provides the ability to know exactly where to take action when changes occur or where to add more budget. Structuring your account based on your goals, intent and performance allows for better budget allocation, strategic bidding and efficient automation. 

4. Automate your ad management. 

If you want to effectively operate at scale, automation is absolutely essential. Without constant monitoring, automation allows you to:

• Manage ads based on filter criteria you set (e.g., selling performance, new products, clearance products)
• Pause ads for products that no longer meet defined criteria 
• Add or unpause products in an ad group as they meet defined criteria
• Activate product and sales data from all your marketplace listings 

As retail media takes off and new ad formats increasingly cover the full depth of the sales funnel, improving your ad program is a win-win for e-commerce success in 2023. If you’re not already doing these things or you need guidance implementing retail media ads that convert, ChannelAdvisor’s Managed Services team can help. Through our longstanding relationship with Amazon partnership and our extensive experience in the market, our experts can show you what works. 

Watch the full webinar, How Brands Can Boost Product Visibility and Sales in 2023 & Beyond, for visual examples, best practices and a deeper look at retail media’s tremendous growth.

The post 4 Elements of Retail Media Success in 2023 appeared first on ChannelAdvisor.

According to new research, losses from sales to new customers have become grown 3x over the past decade. And, since customer acquisition costs have also risen significantly during this period, brands and retailers have started to look more closely at their margins. That combination drove us to new times: the Era of Profitability.

We’re living in an Era of Profitability

Merchants have experienced three different eras of commerce in just the last five years: 

1.     Era of the Old Normal: Before COVID-19, ecommerce was predictable yet often considered an afterthought with inadequate funding and staff. 

2.     Era of Growth at All Costs: Despite the difficult circumstances brought on by the pandemic, by mid-2020, ecommerce, and eventually, brick-and-mortar commerce, were experiencing rapid growth. Business emphasis during this period was on growth, even if it meant making some risky investments.

3.     Era of Profitability: This is where we are now—in a hangover of sorts after the ecommerce growth party has ended. Ecommerce leaders are expected to improve on record-breaking sales even though inflation has crushed margins and consumer demand has declined and shifted. 

You can read more about these eras in our whitepaper.

How to drive profits in the current scenario

With shrinking margins, profitability has become the top priority for merchants. Research shows that the best source for driving profits is doubling down on existing customers. In fact, sales among these customers have become 36% more profitable over the past decade. 

Building on this reality, we analyzed VTEX clients’ actual orders to identify where merchants should focus within the existing customer base to generate greater profits. Our findings are compiled on a proprietary tool called “Customer Profitability Matrix,” which has been helping many of our thousands of clients to drive profitable growth.

The Customer Profitability Matrix

The most effective metrics to judge the value of existing customers are:

• Direct and Organic Recurring Orders (DORO): Organic repeat purchases that are not originated from paid media. 

• Average Order Value (AOV): A customer’s average cart/order amount.

When dividing a retailer’s customers into quadrants based on their average DORO and AOV, we get the Customer Profitability Matrix, which segments customers into four categories: Necessity Shoppers, Impulse Buyers, Discount Shoppers, and Brand Champions. To learn more about the four quadrants and how to leverage them to your business, download the Three Investments to Drive Ecommerce Growth whitepaper now.

To better understand the makeup of their customer bases, every brand and retailer should create their own matrix, which will differ depending on the merchant’s category and price point. Despite these differences, all merchants can benefit significantly from making the right moves to relocate their customers to more profitable quadrants.

Though this approach is as intuitive as it gets, merchants often struggle with it and, instead, chase growth among new customers. We challenge you to develop your own Customer Profitability Matrix and align KPIs to cohorts of customers in each quadrant. Doing so is a quick path to improve profits.

To learn more about the Customer Profitability Matrix, as well as the best ecommerce investments for driving ecommerce profitability, we invite you to download VTEX’s new whitepaper, Three Investments to Drive Ecommerce Growth.

The post Grow Ecommerce Profitability by Using this Customer Profitability Matrix appeared first on VTEX.

Being the first point of contact for customers, product photos play a crucial role by providing a visual representation of the product and its features, helping them make informed decisions on whether to buy it or not.

As the old adage goes, “A picture is worth a thousand words.” Nowhere is this truer than on Amazon, the world’s largest e-commerce platform.

On Amazon, high-quality product images can be the difference between a customer deciding to purchase or moving on to the next product.

If you are a seller looking to benefit from Amazon’s massive reach then this article is for you. Here we will explore how professional-grade product photos can be a game changer for you in attracting and retaining customers, increasing sales and building a strong brand. We will also discuss some of the best practices for Amazon product photos.

Let’s get started.

Importance of High-Quality Product Images on Amazon

Using clear and high-quality product images on Amazon can help sell your products by showcasing to potential customers what exactly they will receive.

In online shopping, most sensory impressions like touching, rotating or testing the product are missing. Since customers need to rely entirely on product photos, visual content becomes the most important aspect for potential customers.

Amazon’s search algorithm, called the A9 algorithm, is designed to offer the best possible user experience and that’s why product images help improve rankings on Amazon. Since 70% of the shoppers never go past the first page of results and 64% of customers only click the top 3 results, it’s important to have higher quality content (images + descriptions + headings) so that your products can show up higher on the Amazon search.

High-quality product photos can help highlight: 

• Key features, which give customers a sense of what it looks like in use,  enhancing the visual appeal of the product and helping it stand out on the Amazon marketplace
• Materials and construction, which can be important for customers who are looking for high-quality or durable products
• Details such as size, color and material, which can be especially important for customers who are unable to physically examine the product in person

Similarly, using subpar images can negatively impact your product sales. Dull or blurry images in your Amazon product listings can put a big dent in your conversions and sales.

In addition, product images can help to build trust with potential customers. By providing clear, accurate, and detailed product photos, businesses can demonstrate that they are transparent and have nothing to hide. This can help to build trust and credibility with customers and encourage them to make a purchase.

Here are a few other reasons why high-quality product images are crucial:

• Better first impressions – On Amazon search result pages, first impressions matter. How you present your product listings in the search results is your first opportunity to stand out from the competition and positively impact customers’ buying decisions.
• Improved customer experience – High-quality product images provide customers with a clear and detailed view of the product, which can help improve their overall shopping experience. Poor-quality images, on the other hand, can be confusing and misleading, which can lead to frustration and abandoned purchases.
• Increased sales – Studies have shown that high-quality product images can significantly increase sales. Customers are more likely to make a purchase if they have a clear and detailed view of the product, as this helps build trust and confidence.
• Enhanced brand credibility – High-quality product images can help enhance the credibility of your brand. By providing clear, accurate and detailed images, you demonstrate that you are transparent and have nothing to hide, which can help build trust with customers.
• Improved conversion rates – The more visually engaging and value-driven you can make your product images, the better your chances of improving your conversion rates.
• Better context – Lifestyle images, which show the product in use, can provide context and help customers imagine how the product might fit into their own lives.

Investing in high-quality product images is an important part of a successful e-commerce strategy.

Amazon Image Requirements

To use great product photos on Amazon, the best place to begin is to follow Amazon’s own criteria. So, let’s look at a few image guidelines that Amazon has set for sellers.

• You must only use the following types of images for product listings: TIFF, JPEG, PNG or GIF (not animated).
• The images should be clear without any blur.
• There should be no nudity or sexually suggestive imagery.
• There cannot be a depiction of baby/children’s clothing on child models.
• There should be no logos or trademarks used by Amazon or corresponding brands like Alexa or Prime.
• For every image file, you must follow Amazon’s naming convention which includes a: 
• Product identifier like Amazon ASIN, ISBN, EAN, JAN or UPC
• Variant code like ‘MAIN’ (for primary product image), ‘PT01’ and ‘PT02’ (for additional product shots), ‘TOPP’, BOTT’, ‘LEFT’, ‘RIGHT’, ‘FRNT’, or ‘BACK’ (for shots taken from different angles)
• Files extension like .tif, .jpg, .gif, or .png  to identify the file type
• Since Amazon offers the zoom functionality, make sure to take full advantage of this feature in your product listings. So, only use high-resolution images that do not get pixelated. Ideally, they should be at least 1,000 pixels in height or width.
• The images must be of the product; no illustrations or drawings are allowed.
• Avoid featuring additional objects in the primary image. You can, however, use additional objects, text or graphics in the secondary images.
• Keep the entire product in the frame.
• The products should fill 85% of the image frame.
• Use white backgrounds (RGB 255, 255, 255) for the primary image.
• To ensure the best quality, your product images should be in focus, professionally lit and photographed, and should have realistic colors. It is also recommended to use sRGB or CMYK color modes when shooting the images.
• Offensive images are not allowed.

Moreover, there are additional guidelines for certain product categories like clothing. For example, the main image for clothing product pages must always feature the garment on a model who is standing up. 

You can find these specific guidelines on the Amazon style guide page.

Best Practices for Amazon Product Images

Your product photos should invoke affirmative emotions to increase your chances of making a conversion.

Here are a few best practices, beyond using high-resolution, well-lit photos, that will help your images stand out on Amazon:

• Showcase the product in multiple angles – Provide multiple product images that show different angles and views of the product. This can help customers get a full understanding of the product and visualize how it looks from all sides. Providing a 360-degree view, can help customers visualize the size and shape of the product and understand its features and details in a better way.
• Leverage lifestyle images – Show the product in use, either in a realistic setting or in a stylized photo shoot depending on the aesthetic and style of the product. Lifestyle images can help customers imagine how the product might fit into their own lives and provide context for the product.
• Show the installation or setup – For products that need to be set up or installed, make sure to add images or infographics that highlight how users can set up the product on their own.
• Pay attention to the product size – The images shouldn’t make the product look too small or too big. If you click the product image at a very small size, you may notice a lot of white space around the product and potentially miss some important details. Conversely, if you click the image at a very large size, some features of the product may be out of focus. Either issue will lead to a poor customer experience, affecting the rating of your product.
• Use infographics – Highlight any unique features, especially those that you mention in your bullet points or title.
• Use white backgrounds – A plain white background can help the product stand out and make it easier for customers to focus on the product itself. This is especially important for products with a lot of visual detail or intricate design.
• Stick to Amazon’s guidelines – Follow Amazon’s guidelines for product images, including size and format requirements. These guidelines can vary depending on the product category, so be sure to check the specific requirements for your product.
• Edit and optimize images – Use image editing software or photography apps to enhance the quality of your images and ensure that they meet Amazon’s guidelines. This can include adjusting the lighting, color balance and composition of the images. Cropping and resizing images to fit Amazon’s requirements can also be important.

The key to effective Amazon product photos is offering high-quality, visually appealing images that can accurately represent your product and help customers make an informed purchasing decision.

Simplified Way to Improve Product Photos

You don’t need to manually go through the entire process of optimizing your product images.

There’s a much easier way to meet Amazon’s image requirements and follow the best practices we recommended — without spending a fortune on hiring professional photographers or photography studios.

DoMyShoot is a user-friendly e-commerce product photography app that allows online sellers to get high-quality product photos for Amazon (and all other major marketplaces) using just their smartphone cameras.

With DoMyShoot, you can create all kinds of images for Amazon product listings. From studio-quality white-background photos to awesome lifestyle images that draw in the eyeballs, DoMyShoot helps you create it all.

The app will not only assist you while clicking photos (through in-app guides) but also take care of other things like:

• Enhancing the image quality
• Adding a white background
• Creating lifestyle images
• Clicking images from multiple angles
• Automatically adapting the images as per Amazon guidelines 

This AI-powered solution can help you scale your product photography workflow at a fraction of the cost.

Get in touch to learn more about how DoMyShoot can help your business.

The post Why Product Images Can Be a Game Changer on Amazon appeared first on ChannelAdvisor.

However, many teams have not evaluated new software in several years. So, Optimizely’s Strategy & Value Advisory team gathered this helpful vendor-agnostic guide. It'll help you independently evaluate tools that fit your needs.  

We've already powered A/B testing for thousands of companies. To help you get started, we're offering a special offer for Google Optimize customers. 

Four tips for finding the right fit for a potential replacement 

See ways for mapping out your requirements when looking for a new A/B testing vendor. 

1. Start early.  

Most companies need 2-6 months to evaluate a new piece of software. Plus, an additional 2 months for implementation.  

• Gradually migrate personalization campaigns and tests. Have a minimum of 1-month overlap with a new tool before GO turns off.
• Ensure all personalization campaigns and a/b tests are live in your new tool. No wonder CRO experts are conservative about it, calling July 31 your true date for turning off Google Optimize. 
• Plan for 3-4 weeks for technical implementation, a/a tests, key integrations, and data validation. We can do it all faster, but typically teams need time.   

2. Dream big.  

Changing a tool should unlock the previously restricted digital potential for your business. Know your must-have requirements, but also understand what could be better. Consider Optimizely’s key improvements over Google Optimize. Now, check if you have answers to these questions: 

• What if you reached stat sig quicker with the industry’s best Stats Engine and delivered more relevant experiences?
• What if you built an inclusive culture of experimentation that fosters team learning and collaboration?
• What if you leveraged products that speak to each other and integrated Optimizely seamlessly with best-of-breed tech platforms?
• What if you needed less developer or data science time to build or understand an experiment?
• What if you had optimal performance and page load times (also impacting Google’s ranking)?

3. Don’t underestimate internal approvals.  

We have seen a c-change in the past six months, where due to economic uncertainties, Finance and Procurement teams have added extra scrutiny to every purchase, whether it be for software, headcount, or other tools for growth. Even very flat organizations and rapid start-ups have found their decision-making delayed. 

• Notify Finance, Procurement, and IT teams early of your need to implement a new tool and ask for their support.
• Any investment needs to have a structured plan presented internally for WHY you need an investment and HOW you will ensure that you can experience ROI. (Ask your vendor for help!)
• Show why experimentation and personalization are essential for your business. 
• Your stakeholders can be on vacation and you may need extra time for review. Plan that their approvals will take 1-2 months; if it’s faster, happy days!
• You can always communicate to the vendor that you want your contract to start in June or July (see #1 – starting later than July could put you at risk of having interrupted service) 

4. Consult experts.  

Read reports from analysts and CRO experts, not just the vendors themselves. Ask for reference customers to have a call about their experience.   

• Check out the Total Economic Impact™ of Optimizely’s Experimentation Platform as per Forrester in the latest TEI™ study.
• GA4 will have some basic split traffic capabilities, as Google Ads already does, but they’ve specifically stated that they will not focus on the “features and services that our customers request and need for experimentation testing”; if you’re just getting started, GA4 may provide enough for your needs, but there’s a high risk for any company that has been running tests already that this will not serve your needs. 

Maybe your company can move faster than this, but it's better to build in a buffer. The biggest risk is that you can’t get a tool in place in time and your personalization campaigns, a/b tests, and MVT experiments go dark.   

Example Timeline for Software Evaluation 

In a competitive market where consumers can compare and shop for the best prices in an instant, sellers are incentivized to offer the most competitive prices. But pricing is a delicate dance between brands, their retailers and consumers to ensure fair value, profit margins and the highest quality products.

What can you do to prevent deep discounts from eventually driving your products off the digital shelf? Here’s everything you need to know about price erosion and how to stop it.   

What Is Price Erosion?

Price erosion is what happens when a retailer or a marketplace seller discounts a product to a new market low (meaning it offers the best online price for this item) and triggers a chain reaction where other sellers lower their prices in a “race to the bottom.” This results in a loss of profit for all sellers of this product, , as well as potentially damaged partnerships between the brand and its retailers. 

While consumers may benefit from lower prices in the short run, price erosion can result in lowered quality or total elimination of the product down the road. 

With so many sellers, high-traffic marketplaces can be hotspots for potential price erosion. Sellers, both authorized or not, may compete on a listing to offer the best possible price. Retailers and sellers on other marketplaces could pick up this new price and try to match it, or worse, beat it. This could happen even if your retailers signed a minimum advertised pricing (MAP) policy: either they knowingly violate it, or they have automated repricers that are not configured with a floor price.

Why Is Price Erosion Bad?

What’s wrong with a little competition? A lot — especially when prices are so low that no one wins. Beyond losing a sale here or there, all parties involved get hurt by price erosion’s long-term effects. Namely:

• It diminishes product and brand value. Deeply discounted products come across as cheap and lose their exclusivity, harming luxury brands and those that tout high product quality. 
• It disincentivizes retailers. When their profit margins shrink and they lose to competitors, retailers have no reason to continue selling price-eroded products. This is especially true when authorized retailers cannot move below MAP pricing to compete with the offending sellers. 
• It risks total brand revenue. If they can’t achieve desired margins, retailers may push for refunds or markdowns, cutting into brand revenue. Plus, consumers may begin to expect discounts, holding out on full-price items or failing to purchase at all. 
• It forfeits retail partnerships. Price erosion can force retailers to break ties with your brand and partner instead with competitors who have more beneficial pricing policies. 

Even worse, price erosion isn’t specific to e-commerce. It can trickle down to brick-and-mortar sales too. While these stores can still secure sales by offering coupons and price-matching programs, it results in lost profits from making up the difference. 

How Can You Avoid Price Erosion?

Price erosion is not a problem with a quick and easy solution. However, you can take proactive steps to curb its influence.

Create a MAP and Other Seller Agreements

If you don’t already have a minimum advertised price (MAP) policy in place, it’s imperative you create one before going any further. Your network of sellers can’t adhere to your MAP rules if you don’t have them. You can also devise a reseller agreement that outlines all of your expectations prior to beginning the relationship. These rules give you leverage to take disciplinary or even legal action if needed down the road. Please note that MAP policies are often illegal outside of the US.

Choose Retailers Wisely

The more the merrier, right? Unfortunately, one of the main causes of price erosion is a wide distribution with too many sellers. Rein in access to your products by being strategic about the channels and marketplaces you sell on in addition to the selling partners you choose. Create an approval process and select sellers who have:

• Similar brand values and who practice integrity
• High ratings
• A positive and credible online presence
• A compliant return policy

From there, keep in close contact with your authorized sellers and regularly audit your approved partners list to ensure credibility. 

Regularly Assess Your Pricing 

The market is constantly in flux, warranting the need to modify prices and thresholds over time. Be realistic about your MAP policies so retailers can comply. If the MAP is too high, it might fail. If it’s too low, you may leave money on the table. 

Automate Price Monitoring

There are too many sellers and channels to manually monitor price fluctuations. Implement an automated price monitor to be your “eagle eyes” across the internet so you can spot price fluctuations and MAP violators early and often. Look for a high-frenquency price monitor: if multiple sellers drop their price, it can tell you which one did it first.

Stop Price Erosion Before It Starts

The market is too saturated with competing sellers to not have a pricing strategy in place. ChannelAdvisor’s Managed Services experts can guide you through the process to devise a pricing strategy, implement price monitoring and make the biggest impact on your profit margin. Over 20+ years, we’ve helped companies fight pricing wars with proven technology and ironclad strategy. Let us help you execute the best repricing options to accomplish your goals and continually monitor performance as circumstances change. 

Contact us to learn more or request a demo with our team of e-commerce experts today to get started.  

The post What Is Price Erosion and How You Can Stop It appeared first on ChannelAdvisor.

Le Panier Bleu is utilizing Nuvei’s market-leading integrated payments technology, Nuvei for Platforms, to provide access to enterprise-level payments solutions to small and medium-sized businesses through its eCommerce platform.

To compete with global eCommerce giants it is essential Le Panier Bleu merchants are able to benefit from turnkey, efficient, customizable and accessible payment services where the online shopping customer experience can be personally tailored.

Nuvei for Platforms is packaged with the complete functionality of Nuvei’s core modular platform, including merchant onboarding, pay-ins and payouts, optimization, orchestration, fraud prevention, risk management, and much more, all in a single seamless integration.

Digital marketplaces and the future of eCommerce

Digital marketplaces are dominating the eCommerce landscape and the opportunities for businesses are growing. Within retail eCommerce sales marketplaces now have a leading position over traditional direct web sales, accounting for more than half of global sales currently, and are predicted to grow to 59% of all eCommerce by 2027. Multi-vendor marketplace platforms enable merchants to set up portals featuring their unique inventories and services in a trusted location that can draw 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.

Getting the Quebec economy rolling

Initially a non-profit organization supported by the provincial government, and now a private company backed by institutional investors, Le Panier Bleu is an eCommerce portal based in Quebec that promotes and sells goods from the region’s merchants. It has been designed, as its own tagline indicates, to ‘get our economy rolling’.

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

“Le Panier Bleu is dedicated to driving the Quebec economy by helping smaller merchants compete more effectively with bigger companies. We want to be the marketplace platform of choice for our online shoppers while supporting our region’s businesses with their current and future eCommerce needs,” commented Le Panier Bleu General Manager Alain Dumas.

“Smooth, safe and hassle-free payments are integral to that and Nuvei helps us provide seamless transactions between our merchants and their customers,” Dumas said.

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

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 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: 

Public Relations

alex.hammond@nuvei.com

LogChain (a cross-border data sharing and workflow platform), Hurricane Commerce (a cross-border data provider) and TMX Global (an end-to-end supply chain consultancy) have signed an agreement to jointly collaborate on a programme to build a plan of operations which aims to improve cross-border trade and digitalise supply chain and logistics industries.

(Clockwise from bottom right: Andie McKeown, CEO at LogChain; Carl Hemus, COO Asia at TMX Global; Rod Talbot, Director APAC at Hurricane; David Kelly, Executive Director at the British Chamber of Commerce Singapore)

The tripartite agreement between the three Chamber members seeks to build on, and champion, the UK-Singapore Digital Economy Agreement (UKSDEA) which was signed on February 25^th 2022 and entered into force on June 14^th 2022. Modules in the UKSDEA include digital trade facilitation, customer cooperation, cross-border data flows and paperless trading.

David Kelly, Executive Director at the British Chamber of Commerce Singapore, commented: “The digital economy is a huge area of interest for the British Chamber and our members as technology provides more opportunities for cross-border trade. 

“With the UK-Singapore Digital Economy Agreement entering into force last year, it is therefore really pleasing to see three member companies of the Chamber driving forward to collaborate and build upon the agreement to support business.”

Andie McKeown, CEO of LogChain, added: “Digitalising trade documentation is a critical step that can avoid unnecessary costs, save time, and enable trade. It can also improve supply-chain resilience and help mitigate inevitable future disruptions as well as empower industry-wide standards for all. 

“The road ahead will require an eco-system-driven mindset and we hope that this agreement today is a step in that journey, building upon the great work between the UK and Singapore governments and the super-connector that is the British Chamber of Commerce Singapore.”

Martyn Noble, CEO of Hurricane Commerce, said: “We are delighted to be a part of this important tripartite agreement which promotes digitalisation across the supply chain. Successful and compliant cross-border trade depends upon the completeness and accuracy of shipment data and Hurricane’s global footprint of customers has made it the world leader in this space.”

Rod Talbot, Hurricane’s Director – Asia Pacific, commented: “The tripartite agreement demonstrates the importance of partnerships, bringing together the cross-border expertise of our three companies, supported by the British Chamber of Commerce’s Singapore team and fully aligned with the UK-Singapore Digital Economy Agreement (UKSDEA).”

Carl Hemus, Chief Operating Officer APAC at TMX Global said: “TMX sees this agreement as a great step in its continued journey of providing practical technology solutions to its customers and its support of companies in their desire to digitalise. In working alongside LogChain and Hurricane and with the support of the British Chamber, we are excited to see what the future holds.”

The post Cross-border specialists sign Tripartite Agreement to support digitalisation of trade appeared first on Hurricane Commerce.

Shafqat Islam: It’s amazing to take on this role at both a category creator and leader. How many brands can be a leader in almost every category–think Experimentation and CMS–that we play in?  

And we have so much to look forward to and build on. We have an exceptional team of marketing leaders and practitioners. They are fiercely intelligent, optimistic, and care deeply about what our products can *do* for our customers. Not just for the people who will encounter the marketing, retail, and product experiences that we support, but for the people who build them. As somebody who has both built products and been deeply immersed in marketing, I love the perspective that our team has.  

Alex Atzberger: What makes Optimizely unique?   

Shafqat Islam: First off, we’re category creators in experimentation and content management, both CMS and CMP. Marketers know this, and analysts know it, as something like 7 major analyst reports will tell you.  

Martech is a crowded field, so it’s true that there are a lot of firms whose territory overlaps with some of ours. But show me another company that can handle the entire content lifecycle like we can. Or show me another company that can do both feature flagging and experimentation.  

We also have a legendary legacy in the martech world. Before I joined, I knew that A/B testing and Optimizely were synonymous, and that the company’s roots go all the way back to the origins of the practice. And that’s something that is like common folklore in marketing and technology.  

And more than anything, the 1500 people who work here are world-class. 

Alex Atzberger: Being a CMO talking to other CMOs and marketing leaders is an advantage. You know the customer. But you’ve also built tech products. How does that affect your work now?  

Shafqat Islam: I’ve spent the majority of my adult life building products for marketers. So I’ve been lucky to spend so much time talking to CMOs and marketers in almost every type of company all over the world. As the founder/CEO of Welcome, my approach was to solve marketer challenges by building products. But now as CMO, I get to use the products we build.  

We’re practitioners of all of our own solutions, so in addition to the natural empathy I have for marketers, I am also close to the job’s unique challenges every day. There’s nothing like that to keep you sharp and keep you close to the customer.  

As a product builder, I knew we must always speak to business outcomes. But as CMO, I love that we aren’t just talking about the solutions - we’re living them, too.  

Because I was an entrepreneur for so long, I also bring another unique view - my willingness to take smart risks. I love to try things, even if (especially if?) the results are sometimes surprising. When it comes to experimentation, there are no failures, only learnings. 

Alex Atzberger: What are the biggest challenges you’re hearing from our customers, current and future?  

Shafqat Islam: Growth, especially given how tough it is out there for so many industries. The stakes are very high when it comes to creating experiences that will win and retain customers. That’s what all of our customers–especially the retail heavyweights-are thinking about.  

And marketing and technology leaders need to do this with leaner budgets. Efficiency matters a lot right now, and that means not only reducing the costs you can see, like the price tag attached to software, but also the costs you can’t see right away, like how much time and money it takes to manage a set of solutions. With that said, in tough times, I think the strongest brands can not just survive but also thrive. I also think when others are fearful, that may be the time to invest aggressively. 

And in the background of all this, there is still the ever-expanding list of customer touchpoints. This is simultaneously an exciting challenge for marketers and an exciting opportunity. More data means more effective storytelling– if you can use it right.

I also hear marketers when they say there’s a need for a shared space for collaboration among us. The role of the marketer is expansive, and it’s only getting more complicated. Building a community where we can come together and appreciate our shared goals is difficult, but I’m optimistic that we’re moving in the right direction.  

Alex Atzberger: What is next in our space? What will marketing and technology leaders be talking about six months from now?  

Shafqat Islam: Looking around now, it’s clear that 2023 will be the year that AI-generated content goes mainstream. We’re just starting to see the uses and the consequences of this. There’s already buzz about ChatGPT and its capabilities, and platforms are already making space to integrate AI functionality into their offerings. It could be an exciting way for users to become better equipped to create and share high-quality content.  

Customers also have gotten very used to personalization. Every screen they see daily is personalized, whether it’s their Netflix account or social feeds. So, when I see a site that isn’t personalized, I kind of scratch my head and wonder, why? With personalization now the norm, expectations for digital creators are sky-high.

Read the official press release.