Nuvei Corporation (NUVEI) and the Mercedes-AMG PETRONAS Formula One (F1) Team have announced a multi-year sponsorship deal ahead of the 2023 F1 season.

From the 2023 Formula 1 season onwards, the Nuvei logo will appear on the helmet and overalls of the F1 drivers as well as pit crew overalls and team clothing.

Nuvei will utilise its team members, including Lewis Hamilton and George Russell as well as team principal and CEO Toto Wolff for its wider marketing activities for customers, clients, and beyond.

With payments processing services in more than 200 markets, including local acquiring in over 45 countries, Nuvei connects eCommerce businesses with their customers across the world.

In addition to payment processing and acquiring, Nuvei’s full stack solution includes pay-ins and payouts, optimization, orchestration, fraud prevention, risk management, and much more through a single, seamless integration.

F1 Teams’ CEO and team principal, Toto Wolff, said he is 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,” Wolff said.

Nuvei’s chair and CEO, Philip Fayer, added: “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,” Fayer said.

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