Early Life
Philip Fayer was born in Montreal, Canada. He spent his childhood in Belgium and Israel. He is a pilot and enjoys race car driving.
Rise to Success
Fayer founded Nuvei, formerly Pivotal Payments, in 2003. He started the company after taking time off from attending Concordia University. The company initially offered electronic payment processing and merchant services. Fayer's leadership has been instrumental in Nuvei's expansion through strategic acquisitions, including SafeCharge in 2019 and Paya in 2023. Nuvei went public in 2020, raising $700 million in the largest tech IPO on the Toronto Stock Exchange at the time. In 2024, Fayer and others took Nuvei private in a $6.3 billion deal.
Key Business Strategies
Nuvei focuses on providing payment technology solutions to merchants and partners globally. The company's platform enables businesses to accept payments worldwide. Nuvei's services include payment gateways, risk management, and multi-currency pricing. Nuvei has expanded its global processing capabilities through partnerships with Microsoft to support over $1 trillion in annual payment volume.
Philanthropy
Through a foundation with his wife, Fayer devotes time for several charities, including youth unemployment and cancer research.