Montréal-based payments company Nuvei has bolstered its foothold in the Asia-Pacific region by acquiring the Japanese subsidiary of British payments company Paywiser.
Nuvei says it has more than 200 on-the-ground staff in the Asia-Pacific region.
The acquisition includes an acquiring licence granted by the Japanese Ministry of Economy, Trade and Industry, which Nuvei says enables the launch of its direct acquiring capabilities across all major card schemes, like Mastercard and Visa, in Japan. Nuvei added the licence extends its direct connectivity with alternative payment methods in the country.
In a statement, Nuvei CEO Phil Fayer called Japan one of the pre-eminent e-commerce markets globally.
“This expansion aligns with our strategic priorities to continue growing our global footprint, offer localized payments experiences on a global scale, and enable our customers to get closer to their customers through payments,” Fayer said. “With our modular payments technology and extensive local expertise, we’re well positioned to help businesses of all sizes accelerate their growth within this dynamic ecosystem.”
The company’s new Tokyo headquarters joins its collection of offices located in China, Hong Kong, Australia, and Singapore, with more than 200 on-the-ground staff in the Asia-Pacific region, Nuvei said in a statement.
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Nuvei made headway in the region last year after it gained a licence to offer domestic money transfer, cross-border money transfer, and merchant acquisition services in Singapore. The company followed that up in October by expanding its European partnership with Japan’s only international payment brand, JCB, to include Singapore and Hong Kong. The expanded partnership allows businesses in those jurisdictions to accept payments by JCB credit and debit cards through a Nuvei integration.
Founded by Fayer in 2003, Nuvei provides tech-enabled payment solutions such as card issuing, banking, and fraud management to merchants and partners operating in the gambling, online retail, financial services, and travel sectors. Last year, the once-publicly traded company went private in a $6.3-billion USD ($9.1 billion CAD) deal with American private equity firm Advent International.
Feature image courtesy Nuvei.