Suning Financial Services announces Nium partnership

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Valentina Vitali
Valentina Vitali
FXC Intelligence Research Analyst
Valentina is a Research Analyst at FXC Intelligence, the data sister company of FXcompared. Valentina is passionate about payments and fintech. Valentin enjoys analysing money transfer companies and… Read more
  • Suning Financial Services will collaborate with major card issuance and payments service provider Nium as part of a push to provide corporate cards to Hong Kong-based firms.
  • Nium and Suning Financial will open up online applications for their new corporate card and, once approved, offer the customer a multi-currency payment experience.
  • “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,” said a spokesperson for Nium.

Nium, a leading provider of card issuance and payments service infrastructure, has announced a new collaboration with a Hong Kong-based company.

The firm said that it will work with Suning Financial Services as part of a new drive to provide companies in the city with corporate cards from Visa.

The card, which will be focused on e-commerce settlement and transactions, has been developed by the two companies in tandem.

The firms say that it comes against a backdrop of rising e-commerce business demand for cross-border payments.

There is a need for the cards in various parts of the economy, including shopping, advertising, and much more.

The corporate card can be used online to pay in multiple currencies.

In a statement, a senior figure at Suning Financial said that the new partnership will add a level of safeguarding to proceedings as well as the other benefits already outlined.

He Zhong, the firm’s general manager for Cross-Border Payments, said that “convenience and security” would also be paramount in the new arrangement.

“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,” he said.

Nium’s chief revenue officer said that the new partnership was a further example of how international businesses were being transformed by the firm’s offer.

Frederick Crosby said that this applied to both its card insurance and payments services.

“This partnership with Suning Financial is yet another example of how our payment and card issuance services can truly empower global businesses,” he said.

He added that the firm had a strong belief in the transformative power of virtual cards and what they could offer – and that multi-currency options were likely to be the “future of e-commerce”.

“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.”

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