JCB and Nuvei team to expand global footprint in APAC

By Gloria Mathias

JCB International (JCB), Japan’s international payment brand, has announced that it has expanded its global partnership with Nuvei Corporation (Nuvei), the Canadian FinTech company, to include Singapore and Hong Kong.

This expansion builds upon Nuvei’s existing relationship with JCB in Europe, further strengthening Nuvei’s position in the growing Asia-Pacific eCommerce market. Businesses in Singapore and Hong Kong will be able to accept payments by JCB credit and debit cards through their existing single integration with Nuvei.

Through this enhanced partnership, Nuvei offers JCB acceptance to its global merchant ecosystem, enabling JCB’s community of more than 158 million card members to pay directly to online businesses integrated with Nuvei. This development is particularly significant for Nuvei’s customers in the APAC region, including eCommerce brands such as Charles & Keith.

Philip Fayer, Nuvei’s Chair and CEO, shared, “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 expansion of the JCB partnership aligns with Nuvei’s ongoing strategic investments in the APAC region. Nuvei is a fully licensed direct local acquirer in Singapore and Hong Kong and recently obtained a Major Payment Institution (MPI) license in Singapore.

Nuvei’s modular payments platform enables clients to securely connect with customers in over 200 markets worldwide through a single integration. It accepts 716 alternative payment methods and offers acquisition in over 50 markets. This extensive reach and flexibility are particularly valuable in the rapidly expanding eCommerce markets in Singapore and Hong Kong.

Hiroko Michishita, Managing Director, JCB International Asia Pacific, 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.”