09:15 AM EDT, 04/09/2024 (MT Newswires) -- Nuvei ( NVEI ) said Tuesday that its Singapore unit secured a license from local authorities that allows the fintech company to provide payment services in the Asian city state.

The license, granted by the Monetary Authority of Singapore, allows Nuvei Singapore Pte. to operate three types of payments services in the country, including domestic money transfers, cross-border money transfers and merchant acquisition services.

"This license enhances our service offering for customers in Singapore," said Nuvei ( NVEI ) chair and CEO Philip Fayer. "It also provides another validation of our steadfast commitment to optimizing the payment experience for businesses and consumers throughout this critically important region."

Nuvei ( NVEI ) said the new license in Singapore fits into its expansion strategy across the Asia-Pacific region, including in Australia and China.

Shares of Nuvei ( NVEI ), which recently finalized a deal to take the company private, were 1.3% lower in premarket trading in the U.S. Yesterday, the shares rose 0.5% in Canada and 0.3% in the U.S.