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 cost model, immediately introduced that it has expanded its world partnership with Nuvei Company (“Nuvei” or the “Firm”) (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 this enhanced partnership, Nuvei now presents JCB acceptance to its world 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 prospects within the APAC area, together with main eCommerce manufacturers comparable to 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 providing for companies in strategic APAC markets and demonstrates our dedication to offering complete cost options that drive development for our shoppers 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 just lately obtained a Main Cost Establishment (MPI) license in Singapore2.
Nuvei’s modular funds platform allows shoppers to securely join with prospects in over 200 markets worldwide by a single integration, accepting 716 various cost strategies and providing buying in over 50 markets. This intensive attain and adaptability are significantly worthwhile 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 Progress Fee (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 identical CAGR of practically 9%, with revenues anticipated to exceed US$7 billion by 20294.
Hiroko Michishita, Managing Director, JCB Worldwide Asia Pacific Pte. Ltd., stated, “Between 2021 and 2022, JCB has nearly doubled the amount of ecommerce transactions in Singapore. Whereas East Asia is our conventional stronghold, now we have seen substantial development in our ASEAN card base of 132% from 2018 to 2023. Nuvei’s newest enlargement into Singapore and Hong Kong enhances JCB’s long-term development technique. We’re assured that Nuvei’s presence in Asia will allow each corporations to work nearer collectively and rapidly obtain substantial gross sales volumes.”
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech firm accelerating the enterprise of shoppers all over the world. Nuvei’s modular, versatile and scalable know-how permits main corporations to just accept next-gen funds, provide all payout choices and profit from card issuing, banking, threat and fraud administration companies. Connecting companies to their prospects in additional than 200 markets, with native buying in 50 markets, 150 currencies and 716 various cost strategies, Nuvei gives the know-how and insights for patrons and companions to succeed domestically and globally with one integration.
For extra info, go to www.nuvei.com
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Contact:
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Investor Relations
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About JCB
JCB is a significant world cost 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 all over the world. JCB Playing cards are actually issued primarily in Asian nations and territories, with greater than 158 million cardmembers. As a part of its worldwide development technique, JCB has shaped alliances with a whole bunch of main banks and monetary establishments globally to extend its service provider protection and cardmember base. As a complete cost answer supplier, JCB commits to offering responsive and high-quality service and merchandise to all prospects worldwide. For extra info, please go to: www.world.jcb/en/
Contact
Kosuke OchiaiCompany Communications
Tel: +81-3-5778-8353
Electronic mail: jcb-pr@information.jcb.co.jp
1 https://traders.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
