HONG KONG, 11 November 2021 – Suning Financial Services (Hong Kong) has recently joined forces with Nium, a global provider of payments and card issuance services, to issue Visa corporate cards for companies in Hong Kong. The corporate cards enable global e-commerce transactions and settlement.
Driven by digitalisation and globalisation, the cross-border payment industry has grown rapidly, accelerating the rise of e-commerce payment card businesses. Currently, e-commerce payment cards are widely used across various business scenarios, such as social search engine advertising, shop rent debits, and buyer shopping payments for overseas e-commerce businesses, bringing a more flexible and efficient digital experience to companies. This Visa Corporate card, jointly created by Suning Financial and Nium, will focus on cross-border e-commerce, advertising and promotion, and other trending fields.
Suning Financials’ General Manager for Cross-border Payments, He Zhong said, “This partnership will enable transactions to be fully safeguarded for convenience and security, thanks to high-quality merchant resources, a strong global clearing network and risk control system, as well as the advanced technical service capabilities of each party.”
Nium’s Chief Revenue Officer, Frederick Crosby, added, “This partnership with Suning Financial is yet another example of how our payment and card issuance services can truly empower global businesses. Like Suning Financial, we believe that virtual cards with multicurrency payment capabilities are the future of e-commerce – and we’re proud to make this a reality for businesses across Hong Kong.”
Users can apply for the corporate cards online and enjoy global multi-currency payment services. This is a breakthrough solution, considering the limitations of traditional physical cards in terms of media and payment scenarios. The solution is also expected to bring new growth opportunities for Suning Financials’ cross-border payment business.
Suning Financial will leverage Nium’s global ecosystem for cross-border payments. Based on its financial capacity and O2O online-to-offline omni-channel business advantages, Suning Financial will continue to improve the interaction between its supply chain and payment business, provide customers with more complete financial solutions, achieve sustainable product and brand development, accelerate the globalisation of cross-border payments, and expand China’s technological and inclusive financial services to more countries and regions.
Suning Financial Services (Hong Kong) Co., Limited was granted the Hong Kong Money Service Operator Licence (MSO Licence) in July 2021 and will soon launch offshore foreign exchange services, e-commerce card services, etc.
This is the cross-border payment business of Suning Financial. It’s main entity in China is Nanjing Suning Payment Technology Co., Ltd., which is qualified by the People’s Bank of China and the State Administration of Foreign Exchange to provide foreign exchange and cross-border RMB settlement and sale and international card acquiring services for customers. It is the industry leader in terms of product offerings, capital compliance, and business maturity.
Nium is a leading embedded fintech company that provides banks, payment providers, travel companies, and businesses of any size with access to global payment services via one API. Its modular platform provides services for pay-outs, pay-ins, card issuance, and banking-as-a-service. Once connected to the Nium platform, businesses have the ability to pay out in more than 100 currencies to over 190 countries – 85 of which in real time. Funds can be received in 33 markets, including Southeast Asia, UK, Hong Kong, Singapore, Australia, India, and the US. Nium’s growing card issuance business is already available in 32 countries, including Europe (SEPA), the UK, Australia and Singapore. Core to Nium is its license infrastructure, built over time in some of the fastest growing economies. Nium owns the broadest license portfolio, covering 11 of the world’s jurisdictions, enabling seamless global payments and rapid integration, regardless of geography.
For more information, visit: https://www.nium.com