With the North American market continuing to evolve rapidly, Nuvei’s Chief Corporate Development Officer Neil Erlick joined the Double Espresso Show to explain how the firm took a different approach when it came to expansion in the region.
Speaking to SBC CEO Rasmus Sojmark, Erlick also underlined just how pivotal it was that the firm had established its own bank and bin sponsorship – allowing it to essentially be the acquirer for the large operators.
He outlined that in embarking on this process, the firm had facilitated the eradication of the middle man and an increased level of directivity when it comes to the igaming payments journey.
With an established presence in Europe and already a major player in the US space – Erlick mapped out the lessons that can be learned as North American regulation continues to accelerate.
“Responsible gaming, for us, is top of mind – we take it very seriously and always will, whilst it’s ultimately up to each individual operator to make sure that they are abiding by all the rules in the jurisdiction in which they’re licensed.
“We feel that we have some tools that can certainly help them. So as part of our own ESG initiatives you know we talked about Responsible Gambling, we’ve partnered with the American gaming Association in their game plan of responsibility.
“So for us, doing our part by partnering with the AGA, by having tools through our technology that can give the operators the ability for customers to set certain deposit limits to put some self-exclusion tools in place to giving them visibility from our own technology standpoint, I think that for us – we take it very seriously.
“And, so anywhere we can talk about lessons learned in Europe, certainly we’ve been doing this a very long time, so we’re able to spot trends. We’re able to see things, we’re able to take the experience that we have for close to two decades, and apply that in the US and Canada and obviously in all parts of the world.”
Show host Sojmark agreed that responsible entertainment is something that needs to be embraced, highlighting now as being the perfect time for the US market to begin strategies and link with the right payment firms in order to ensure social responsibility requirements are met.
Reflecting on the recent acquisition of Simplex, Erlick cited a number of things the company loves about the acquisition, highlighting how it provides payments for crypto liquidity providers globally.
He stated: “There’s a number of things they do, from the AI fraud tools that they have developed in-house, which we think are incredible and game changing – not only in the crypto industry, but also the ability to use that across all of the verticals that we work in.
“If you think about Nuvei, no vertical that we work in makes up more than 20% of our business, so the ability to use these AI fraud tools across our entire portfolio becomes really interesting – where they are now using the tech to guarantee funds are good.”