'Tremendous opportunity' in Canada for building a business: Nuvei CEO
As Canadian businesses grapple with uncertainty amid the threat of a second wave of COVID-19, the chief executive of payments processing company Nuvei Corp. is praising the country’s tech environment, saying Canada is still a good place to build a business.
“Canada has tremendous opportunity and we’re seeing so much innovation,” Philip Fayer told BNN Bloomberg’s Jon Erlichman in an interview Wednesday.
Montreal-based Nuvei, which made its Toronto Stock Exchange debut Sept. 17, offers payment solutions for mobile and e-commerce clients in industries like online retail and online gambling. The 17-year-old company’s move to go public has been one of the most high-profile initial public offerings (IPO) in Canada this year.
And while 2020 has been challenging for many companies across various sectors due to the pandemic, Fayer believes that Nuvei is in a good position to weather the storm.
“COVID, we think, has been an impetus for more folks looking to bring their business online, and it [has had] a positive impact for Nuvei,” Fayer said.
Fayer also noted that Nuvei’s presence around the world has helped his business navigate the pandemic.
“We operate globally so as different waves happen, our business is impacted slightly [differently] depending on the geographies, but the verticals we operate in are fairly resilient and somewhat sheltered,” he said.