Japan national payment brand JCB has extended its partnership with Canadian fintech Nuvei to extend the coverage of both parties’ products across two key Asia-Pacific markets.
The partnership renewal entails that JCB and Nuvei will now include customers in both Singapore and Hong Kong as part of its expansion efforts to strengthen its position in the APAC region by rolling out its payment solutions.
Nuvei will now offer JCB acceptance to its global merchant ecosystem, enabling JCB’s community of more than 158 million cardmembers to pay directly to online businesses integrated with Nuvei.
Hiroko Michishita, Managing Director, JCB International APAC, said: “Between 2021 and 2022, JCB has almost doubled the volume of ecommerce transactions in Singapore.
“While East Asia is our traditional stronghold, we have seen substantial growth in our ASEAN card base of 132% from 2018 to 2023. Nuvei’s latest expansion 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.”
The expansion of the JCB partnership aligns with Nuvei’s ongoing strategic investments in the APAC region. Nuvei is a fully licensed direct local acquirer and recently obtained a Major Payment Institution licence in Singapore.
Nuvei’s modular payments platform enables clients to securely connect with customers in over 200 markets through a single integration, accepting 716 alternative payment methods and offers acquiring in over 50 markets.
Philip Fayer, Nuvei CEO, commented: “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.”
