Canadian fintech company Nuvei has broadened its footprint in the Asia-Pacific region by acquiring Paywiser Japan Limited, along with an acquiring licence from the Japanese Ministry of Economy, Trade and Industry.
The strategic move enables Nuvei to launch direct acquiring capabilities in Japan, allowing it to process payments directly across all major card schemes and connect with key alternative payment methods in the country.
The establishment of a new headquarters in Tokyo strengthens Nuvei’s presence in the region, which already includes offices in China, Hong Kong, Australia and Singapore.
The expansion is part of Nuvei’s ongoing strategy to enhance its global operations and deepen its engagement in one of Asia’s largest e-commerce markets.
Philip Fayer, chair and CEO at Nuvei, said: “We’re delighted to be building on our existing presence and laying down even stronger roots in Japan, one of the preeminent e-commerce markets globally.
“This expansion aligns with our strategic priorities to continue growing our global footprint, offer localised 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.”
Strategic implications
Japan is recognised as the fourth largest e-commerce market globally and the second largest in the Asia Pacific region. The market is projected to grow significantly, with expectations to expand from $230billion to more than $650billion by 2032. This growth is accompanied by an anticipated increase in online shoppers, potentially reaching 100 million by 2026, comprising 83 per cent of the population.
Nuvei’s expansion into Japan is timely as the country’s e-commerce sector advances, offering substantial opportunities for both local and international businesses. The ability to offer streamlined, direct payment processing solutions is likely to support Japanese businesses looking to expand their reach both domestically and internationally, while also facilitating entry for global companies into the Japanese market.
“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,” Fayer also added.
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