Nuvei Becomes a ‘Recommended Payments Partner’ for Sage

After more than a decade of working together, Nuvei and Sage are making their partnership more official.

Nuvei, a Montreal-based FinTech, announced Thursday (June 29) that it was now a “recommended payments partner for Sage,” which provides accounting, financial, HR, and payroll technology, for small and medium-sized businesses (SMBs).

That means Sage will now recommend Nuvei as a solution for its enterprise resource planning platform, Nuvei said in a news release, noting that its own platform was “uniquely connected to the entire Sage ecosystem.”

Nuvei’s ERP payments solution delivers integrated payment acceptance and disbursement solutions to its customers, along with single-view visibility of the information and insights to make faster and more knowledgeable decisions.

“Sage customers will be able to reconcile financial information across systems and improve visibility more efficiently,” the release said. “At the same time, they are empowered to reconcile paid invoices into their business management system and shorten DSO [days sales outstanding] or receivables cycles.”

And as PYMNTS wrote last month in a conversation with Andy Murphy, director of receivables product management at Bank of America, a lack of visibility can hamstring businesses.

“We are on an evolutionary journey,” Murphy told PYMNTS. “A lot of companies are not currently realizing the trapped value of their data — but it’s the new oil.”

He stressed that by leveraging the vast amounts of information they can glean from nearly every touchpoint, companies can achieve insights and analytical recommendations to a degree never before possible. But there’s something holding businesses back.

“One of the biggest blockers to tapping into [increasingly rich data resources] tends to be a lack of visibility,” Murphy explained. “Companies have access to so much data in their systems, but the problem is that it’s fragmented and it’s messy. And so quite often, it can become very difficult to transform that data into something more meaningful.”

PYMNTS collaborated with Nuvei earlier this year on the study “New Payment Options: Building Stronger Customer Ties With Pay By Bank Transfer,” which showed that online bank transfers are the most popular method for recurring bill pay.

The study, which surveyed more than 2,000 U.S. consumers found 33% of respondents who paid recurring bills via online bank transfers pointed to ease and convenience as the chief reasons for using this method.

“Bill pay is a nascent use case for online bank transfers, but the data shows that 42% of consumers who have paid for an eCommerce purchase using online bank transfer find it easy and convenient, and those are strong drivers for greater use of the method for bill pay,” PYMNTS wrote in April.