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Nuvei announced its launch in Japan - FinTecBuzz
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The Company continues to extend its global reach with strengthened presence in the world's fourth largest eCommerce market
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Nuvei Corporation (“Nuvei” or the “Company”), the Canadian fintech company, today announces an expansion in Asia-Pacific (APAC), having completed the acquisition of Paywiser Japan Limited, including its acquiring license granted by the Japanese Ministry of Economy, Trade and Industry. The license enables Nuvei to progress with launching direct acquiring capabilities in Japan across all major card schemes, and to extend its direct connectivity with all relevant alternative payment methods (APMs) in the country.
With its new Japan headquarters in Tokyo complementing existing offices in China, Hong Kong, Australia, and Singapore, Nuvei now boasts over 200 on-the-ground payments experts across the region.
Strategic expansion into APAC’s second largest eCommerce market
Nuvei’s comprehensive range of agile payments solutions will support Japanese businesses scale both in-market and cross-border, as well as enable global businesses to expand into the Japanese market seamlessly.
For Nuvei’s international customers, market entry into Japan through an existing single integration to the Nuvei core platform presents an exciting and sizeable opportunity. Japan is the fourth largest eCommerce market globally and second largest in the APAC region1. The Japanese market is expected to grow at a Compound Annual Growth Rate of 11.6% from 2024 to 2032, with Total Market Size increasing from USD$230 billion to more than USD$650 billion by 20322. The volume of online buyers is expected to surpass 100 million people (83% of the population) by 2026, and eCommerce will account for 22% of all commerce transactions by 20283.
Philip Fayer, Nuvei Chair and CEO, commented: “We’re delighted to be building on our existing presence and laying down even stronger roots in Japan, one of the preeminent eCommerce 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, wherever they are and however they want to pay. 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.”
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