Galeries Lafayette UAE and Nuvei Partner to Enhance Payment Flow
Galeries Lafayette UAE, a subsidiary of French Department Stores LLC, has entered into a strategic partnership with Canadian FinTech company Nuvei to elevate the payment flow of its eCommerce platform, according to PYMNTS.
The primary objectives of this collaboration are to boost authorization rates, expand into global markets, and ensure a seamless payment experience for customers, as announced in a press release on January 16th.
Patrick Abchee, the Head of Digital Business at Galeries Lafayette UAE, emphasized the significance of this partnership, stating, «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.»
By teaming up with Nuvei, Galeries Lafayette UAE intends to harness Nuvei’s smart routing capabilities and integrate 3D Secure (3DS) technology to enhance transaction success rates while maintaining stringent security measures.
The partnership will grant Galeries Lafayette UAE access to Nuvei’s proactive payment optimization approach, offering detailed analysis on improving authorization rates securely through 3DS. Furthermore, the Nuvei cPanel, a platform offering real-time analytics and transaction-level reporting, will empower the department store with greater control and insights into its payment processes, further advancing payment optimization.
Beyond these enhancements, Galeries Lafayette UAE’s eCommerce platform will also incorporate popular digital wallets like Apple Pay and Google Pay into its online checkout, enhancing flexibility and delivering a seamless payment experience to customers.
This partnership is anticipated to expand into additional markets, with a commitment to incorporating various payment methods beyond digital wallets and cards into the payment flow, as stated in the press release.
Philip Fayer, Chairman and CEO at Nuvei, commented on the significance of their technology in challenging markets such as the UAE, saying, «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.»
As PYMNTS Intelligence has noted, securely processing transactions is becoming increasingly complex. Collaboration between eCommerce merchants and payment service providers (PSPs) is pivotal in deploying effective fraud prevention strategies and delivering seamless customer experiences, according to «The Role of Fraud Screening in Minimizing Failed Payments,» a collaboration between PYMNTS and Nuvei.