Companies in Singapore and Hong Kong can now settle for funds by JCB credit score and debit playing cards by their current single integration with Nuvei
TOKYO and MONTREAL, Oct. 7, 2024 /PRNewswire/ — JCB Worldwide Co., Ltd. (“JCB”), Japan’s solely worldwide fee model, at this time introduced that it has expanded its international partnership with Nuvei Company (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech firm, to incorporate Singapore and Hong Kong. This enlargement builds upon Nuvei’s current relationship with JCB in Europe, additional strengthening Nuvei’s place within the quickly rising Asia-Pacific (APAC) eCommerce market.
By way of this enhanced partnership, Nuvei now provides JCB acceptance to its international service provider ecosystem, enabling JCB’s group of greater than 158 million cardmembers to pay on to on-line companies built-in with Nuvei. This growth is especially important for Nuvei’s clients within the APAC area, together with main eCommerce manufacturers resembling Charles & Keith1.
Philip Fayer, Nuvei’s Chair and CEO, commented on the announcement: “Extending our partnership with JCB to Singapore and Hong Kong enhances our service offering for businesses in strategic APAC markets and demonstrates our commitment to providing comprehensive payment solutions that drive growth for our clients globally.”
The enlargement of the JCB partnership aligns with Nuvei’s ongoing strategic investments within the APAC area. Nuvei is a completely licensed direct native acquirer in Singapore and Hong Kong, and not too long ago obtained a Main Fee Establishment (MPI) license in Singapore2.
Nuvei’s modular funds platform permits shoppers to securely join with clients in over 200 markets worldwide by a single integration, accepting 716 various fee strategies and providing buying in over 50 markets. This intensive attain and suppleness are significantly beneficial within the context of the quickly increasing eCommerce markets in Singapore and Hong Kong.
Singapore’s eCommerce market is predicted to develop at a Compound Annual Development Charge (CAGR) of practically 10%, with gross merchandise worth anticipated to achieve US$23.5 billion by 20273. Hong Kong’s eCommerce market is projected to develop at an analogous CAGR of practically 9%, with revenues anticipated to exceed US$7 billion by 20294.
Hiroko Michishita, Managing Director, JCB Worldwide Asia Pacific Pte. Ltd., mentioned, “Between 2021 and 2022, JCB has almost doubled the volume of ecommerce transactions in Singapore. Whereas East Asia is our traditional stronghold, we have seen substantial growth in our ASEAN card base of 132% from 2018 to 2023. Nuvei’s newest enlargement into Singapore and Hong Kong complements JCB’s long-term growth strategy. We are confident that Nuvei’s presence in Asia will enable both companies to work closer together and quickly achieve substantial sales volumes.”
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech firm accelerating the enterprise of shoppers world wide. Nuvei’s modular, versatile and scalable expertise permits main firms to just accept next-gen funds, provide all payout choices and profit from card issuing, banking, danger and fraud administration providers. Connecting companies to their clients in additional than 200 markets, with native buying in 50 markets, 150 currencies and 716 various fee strategies, Nuvei gives the expertise and insights for patrons and companions to succeed domestically and globally with one integration.
For extra data, go to www.nuvei.com
NVEI-IR
Contact:
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alex.hammond@nuvei.com
Investor Relations
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About JCB
JCB is a significant international fee model and a number one bank card issuer and acquirer in Japan. JCB launched its card enterprise in Japan in 1961 and commenced increasing worldwide in 1981. Its acceptance community consists of about 49 million retailers world wide. JCB Playing cards at the moment are issued primarily in Asian nations and territories, with greater than 158 million cardmembers. As a part of its worldwide progress technique, JCB has fashioned alliances with lots of of main banks and monetary establishments globally to extend its service provider protection and cardmember base. As a complete fee resolution supplier, JCB commits to offering responsive and high-quality service and merchandise to all clients worldwide. For extra data, please go to: www.international.jcb/en/
Contact
Kosuke OchiaiCompany Communications
Tel: +81-3-5778-8353
E mail: jcb-pr@information.jcb.co.jp
1 https://buyers.nuvei.com/news-releases/news-release-details/charles-keith-selects-nuvei-boost-international-expansion
2 https://www.nuvei.com/posts/nuvei-secures-mpi-license-in-singapore-to-accelerate-apac-expansion
3 https://finance.yahoo.com/information/singapore-ecommerce-market-databook-2023-171900419.html
4 https://www.statista.com/outlook/emo/ecommerce/hong-kong
