TEL AVIV, Israel, Oct. 14, 2020 (GLOBE NEWSWIRE) — Nuvei Corporation (“Nuvei” or the “Company”) (TSX: NVEI and NVEI.U), the global payment technology partner of thriving brands, is proud to announce a new development in its longstanding relationship with eTeacher Group, a provider of online education services in more than 20 countries.
Nuvei provides online payment technology and services for Langaroo, eTeacher’s new one-on-one English language tuition service for children. Responding to the increased demand for distance learning, the group has reached a new demographic of students with this service.Established in the year 2000 as a K-12 online tutoring service in Israel, eTeacher has seen phenomenal growth in both its range of services and scope. It now boasts thousands of graduates worldwide from its six schools, which include Highway to English and Tekkie Uni.Nuvei has been powering eTeacher’s online payments since 2014. International providers of online education require a robust payment system that can provide a localized solution to cater to specific regional needs and handle cross-border payments as smoothly as domestic ones.eTeacher’s customers largely pay by recurring and subscription billing; courses are ongoing services, and customers prefer automatic recurring payments that last for the duration of their chosen course, instead of filling in their card details repeatedly. With Nuvei’s Checkout solution, customers enjoy a fast and frictionless payment journey, tailored to their location. Available through a single integration, eTeacher benefits from the innovative features of Nuvei’s subscription engine, including customized billing plans, automated subscription management and decline recovery features such as automatic retry, which significantly reduces lost conversions.“At eTeacher Group, we strive to bring quality education to as many people as we can, so it is essential to have a payment partner that we can rely upon as we scale,” said Itay Shalital, chief financial officer at eTeacher Group. “Our success can be measured by our fast-growing number of annual enrollments of students from across the globe. Our partnership with Nuvei continues to provide us the scalable and innovative payment technology that we require as we expand into new markets and demographics.”“We are proud of our longstanding partnership with eTeacher Group, and wholeheartedly support its goal of bringing the traditional classroom to the internet,” said Yuval Ziv, managing director of digital payments at Nuvei. “In addition to the growing demand for distance learning during the COVID-19 pandemic, we feel confident that eTeacher’s business will continue to flourish in the years to come. Nuvei is well positioned to address the expanding payment requirements of its long-term strategies.”About NuveiWe are Nuvei, the payment technology partner of thriving brands. We provide the intelligence and technology businesses need to succeed locally and globally, through one integration – propelling them further, faster. Uniting payment technology and consulting, we help businesses remove payment barriers, optimize operating costs and increase acceptance rates. Our proprietary platform offers direct connections to all major payment card schemes worldwide, supports 450 local and alternative payment methods (assuming the successful completion of the Company’s acquisition of Coöperatieve Vereniging Smart2Pay Global Services U.A.) and nearly 150 currencies. Our purpose is to make our world a local marketplace. For more information, visit www.nuvei.com.About eTeacherEstablished in 2000, eTeacher Group creates and operates leading virtual schools throughout the world. eTeacher specializes in large scale operation of online teacher-led classes. We work with leading professionals every step of the way, from recruiting teachers and developing content, to marketing, sales, and operations.Forward-Looking InformationThis press release contains “forward-looking information” within the meaning of applicable securities laws, including statements with regards to eTeacher’s business growth. Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond the Company’s 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 those described under “Risk Factors” in Nuvei’s final base PREP prospectus. Forward-looking information is based on management’s beliefs and assumptions and on information currently available to management. Although the forward-looking information contained in this press release is based upon what management believes are reasonable assumptions, you are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this press release is provided as of the date of this press release, and the Company does not undertake 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:Investor Relations
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