Suning Financial Services 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.
He Zhong, General Manager for Cross-border Payments, Suning Financials, 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.”
“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,” added Frederick Crosby, Chief Revenue Officer, Nium.
Users can apply for 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.