WeCook Case Study

CASE STUDY

Nuvei brings subscription-based payments up to speed for WeCook

WeCook is a great Canadian food-tech story. Nuvei is a great Canadian payment-tech story. Find out how WeCook was able to leverage Nuvei’s payment platform for long-term growth and profitability.

About WeCook

WeCook Meals was founded in 2013 by two young entrepreneurs who wanted to spend less time in the kitchen, without compromising on a high-quality, nutritious diet. Meals are curated by an in-house chef, using only freshest ingredients sourced from local suppliers. Demand for WeCook’s ready-made meals have increased 1000% since 2020 and the Montreal-based company has successfully created 600 new jobs. The Montreal-based company currently has two production facilities delivering more than 4 million meals a year throughout Ontario and Quebec.

Leading ready-to-eat meal provider in Canada.

About Nuvei

At Nuvei, we’re bringing payments up to speed. Our future-proof technology allows businesses to accept cutting-edge payment options, optimize new revenue streams, and get the most out of their stack. We believe in turning payment barriers into accelerants, propelling your business forward with tailored solutions. With a single integration and advanced customization tools, Nuvei delivers unsurpassed flexibility that enables businesses to adapt quickly and enter new markets seamlessly.

Payments designed to accelerate your business.

The Challenge

In May 2022, Montreal-based WeCook secured CAD $40 million in strategic equity investment. The funding was part of a wider plan to accelerate the company’s growth across Canada by broadening its business-to-business and direct-to-consumer base. This inevitably meant rethinking their payment strategy. Unit economics, while still important, were no longer enough. They needed an innovative, future-proof partner who could support their long-term growth.

WeCook was growing their customer base and needed to optimize their payment strategy.

The Approach

Choosing a new payment provider presented a significant challenge - migrating payment tokens.

Tokenization is a data security method that replaces credit card information with tokens, a string of symbols that uniquely identify the cardholder. For recurring or subscription billing business models, this is a must-have. The ability to move this data seamlessly was a key deliverable for WeCook when selecting a new provider.

Nuvei’s single API integration and well-written developer documentation helped to faciliate a seamless integration. WeCook was impressed by the speed, reliability, and human touch they experienced throughout the project. They also enjoyed working with a global payment partner with a deep local presence in Canada!

Uniting payment techology and consulting The Solution

1. CONSULTATIVE EXPERTISE

WeCook and Nuvei were first introduced by Paymath, a payments strategy company helping eCommerce businesses in North America. They are a valued Nuvei partner who knew we could deliver exactly what WeCook needed.

We worked closely as a team to implement the right payment architecture. Key considerations included saving costs, reducing fraud, and enhancing the customer's checkout experience.

2. PAYMENT TECHNOLOGY MIGRATION

We began by activating our payment token creation for net-new clients. This allowed WeCook to monitor important KPIs such as approval and decline rates. We also tested post-token creation and successful follow-up transactions.

For existing customers, Nuvei provided mapping files to ensure secure data transfer. The migration was done in batches to minimize risk and allow for testing and validation.

The migration was completed successfully in a matter of weeks!

3. OPTIMIZING COSTS AND MANAGING CASH FLOW

WeCook was able to save up to 65% on its processing costs by making the switch to Nuvei.

We selected the best pricing model based on the business’s growth, transaction types, and volumes.

For a fast-growing company like WeCook control of cash flow is vital to success. Nuvei’s accelerated funding cycle and rapid payouts ensure fast access to cash thus boosting positive cash flow.

The Solution

4. OPTIMIZING THE CHECKOUT EXPERIENCE

WeCook’s revenue comes from recurring transactions so this must also be managed well. Optimizing the subscription payment process helps reduce cart abandonment, increase conversions and accelerate revenue.

5. FLEXIBILITY AND AVAILABILITY

6. SEAMLESS INTEGRATION

Secure tokens saved on Nuvei’s platform enable access to billing data without needing to store credit card information. When coupled with our Account Updater feature, WeCook had a smooth automatic billing cycle with no payment disruptions.

Nuvei’s deep understanding of both the global and Canadian payments industry has been a great asset for WeCook. The two companies have their headquarters in Montreal and share an entrepreneurial mindset. Nuvei understands that no two companies are alike and so we’re flexible when building solutions for our merchants.

We pride ourselves not only on our technology but also on our people. WeCook now has access to a team of payment experts who are knowledgeable, flexible, and responsive.

Nuvei makes payment integration simple, secure, and straightforward. Our developer-friendly APIs, robust documentation and hands-on technical integration support contributed to a quick migration, well ahead of expectations.

The Outcome

From the outset, the two companies worked together with a strategic approach based on driving innovation for the subscription-based business. The focus was on helping WeCook grow and connect with their customers.

WeCook is a great success story in the Canadian food market and Nuvei is proud to be a part of the journey. With a solid presence in Quebec and Ontario, and plans to open a new hub in Alberta, their future looks bright.

When choosing a payment partner, always look at the big picture. Consider your payment needs today and over the next 5 years. That would be my advice to early-stage or mid-stage subscription-based businesses.

For WeCook, Nuvei's payment platform provides a strong foundation for us to grow.”

Nuvei is designed to accelerate your business. Our future-proof technology allows businesses to accept cutting-edge payment options, optimize new revenue streams, and get the most out of your existing stack—all on one platform.

Since making the switch to Nuvei, WeCook has serviced over 125,000 customers across Canada and has sold over 4.5 million meals! Looking ahead

Jean Sebastien,

Senior Director Digital Marketing & Growth, WeCook