Canadian payments company Nuvei has entered into a multi-year sponsorship agreement with the Mercedes-AMG PETRONAS Formula One Team ahead of the 2023 F1 season.

From the 2023 Formula One™ season onwards, the Nuvei logo will appear on the helmet and overalls of the Mercedes-AMG PETRONAS Formula One Team drivers as well as pit crew overalls and team clothing.

Nuvei will also be able to utilise team members, including drivers Lewis Hamilton and George Russell, and Team Principal and CEO Toto Wolff for its wider marketing activities for customers, clients, and beyond.

The Nuvei branding will be unveiled at the Team’s 2023 F1 car launch later this week.

Listed on both the Nasdaq and Toronto Stock Exchanges, Nuvei offers payments processing services in more than 200 markets, including local acquiring in over 45 countries.

Toto Wolff

Toto Wolff, Team Principal and CEO of the Mercedes-AMG PETRONAS Formula One Team said,

“We’re thrilled to welcome Nuvei as a long-term partner in time for the start of the 2023 Formula One™ season. Nuvei has a reputation as a leader in its field with a global footprint.

It’s dedication to performance excellence through innovation aligns with our values, so we’re looking forward to a successful period working closely together as we share the Nuvei brand with our global audience and find more similarities between our approaches to success.”

Philip Fayer

Philip Fayer, Chair and CEO at Nuvei said,

“Being a people-first, technology-led business ourselves we identify strongly with the ethos of the team, which is just one of the reasons that we are incredibly excited to be joining the Mercedes-AMG PETRONAS Formula One Team family.

As a leading global payments company with a heritage of delivering the most agile and transformative payments technology in the market we know what it takes to sustain being at the cutting edge of innovation.”

This article first appeared on Fintech News America.