Galeries Lafayette UAE, a subsidiary of French Department Stores LLC, has partnered with Canadian FinTech company Nuvei to enhance its eCommerce platform’s payment flow.
This strategic partnership aims to maximize authorization rates, expand into global markets and provide a seamless payment experience for customers, the companies said in a Tuesday (Jan. 16) press release.
“Nuvei’s sophisticated technology and comprehensive analytics will play a crucial role in maximizing our transaction authorization rates, while offering us the ability to easily expand into new markets,” Patrick Abchee, head of digital business at Galeries Lafayette UAE, said in the release.
By partnering with Nuvei, Galeries Lafayette UAE aims to leverage the company’s smart routing capabilities and 3D Secure (3DS) technology integration to increase transaction success rates while maintaining strong security measures, according to the release.
Nuvei’s proactive approach to payment optimization will provide Galeries Lafayette UAE with detailed analysis on improving authorization rates securely via 3DS, the releases said. The Nuvei cPanel, a platform that offers real-time analytics and reporting at the transaction level, will give the department store greater control and insight into its payment processes, further driving payment optimization.
In addition to these enhancements, Galeries Lafayette UAE’s eCommerce platform will also integrate popular digital wallets such as Apple Pay and Google Pay into its online checkout, per the release. This integration will provide customers with a more flexible and seamless payment experience.
This partnership between Galeries Lafayette UAE and Nuvei is expected to expand into additional markets, with more payment methods beyond digital wallets and cards being added to the payment flow, according to the press release.
“Our technology ensures that our customers are able to optimize their payment flow — even in markets such as the UAE, where acceptance rates have characteristically been lower,” Philip Fayer, chair and CEO at Nuvei, said in the release.
PYMNTS Intelligence has found that securely processing transactions is growing increasingly complex. Collaboration between eCommerce merchants and payment service providers (PSPs) is crucial in deploying effective fraud prevention strategies and providing smooth customer experiences, according to “The Role of Fraud Screening in Minimizing Failed Payments,” a PYMNTS and Nuvei collaboration.
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January 17, 2024 at 12:48AM
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