Visa, Nium and Fuiou in three-way collaboration for payments


Valentina Vitali
Valentina Vitali
Research Analyst
Valentina is a Research Analyst and passionate about payments and fintech. Valentin enjoys analysing money transfer companies and the market. In her work, Valentina analyses payments data… Read more
  • Visa, Nium and Fuiou will work together to offer new payment solutions to customers and will offer top services such as multi-format cards and enhanced customer service channels.
  • The new service will be business-to-business and will see each company offer a different area of expertise – such as card issuance for Nium and technical service functions for Fuiou.
  • “The ability to make and receive simple, fast and secure digital payments, and integrating that to overall business operation, is crucial,” said a spokesperson for Visa.

Nium, one of the world’s leading online money transfer firms, has announced a collaboration with Visa and technical solutions firm Fuiou.

Nium said that it will work with the two companies to each provide a distinct service as part of a new payments tool.

Nium will offer card issuance services as part of the collaboration, while Visa will provide commercial payment solutions.

Fuiou, meanwhile, will offer technical service functions.

Together, they will offer a range of payment solutions in markets such as international e-commerce, student tuition fee settlement, and many more.

The services will be offered on a business-to-business basis and will particularly focus on small-to-medium-sized enterprises.

The newly offered card will be multi-format in nature and will include card customisation options and full-service support.

Press reports described the inclusion of “exclusive communication channels” for customer service.

In a statement, Maaike Steinebach, who serves as general manager for Visa in Hong Kong and Macau, said that pre-pandemic, the figures for businesses involved in online selling in Hong Kong were looking gloomy.

“Halfway through the pandemic last year, only 4 in 10 small-and-medium enterprises (SMEs) in Hong Kong are selling online,” she said.

She pointed out, however, that the figures have since skyrocketed.

“Today more than 3 in 5 are engaged in e-commerce. The ability to make and receive simple, fast and secure digital payments, and integrating that to overall business operation, is crucial.”

Steinebach went on to say that Visa was looking forward to pairing up with its two collaborators.

“Visa is excited to partner with Fuiou and Nium to enable small businesses to bring such comprehensive B2B payment solutions to SMEs in Hong Kong region, Greater China and beyond.”

Fuiou’s president Yiqun Zhang also praised the other two firms involved in the collaboration.  

“We want to thank Visa and Nium on co-developing this business solution. We really appreciate Visa’s product innovations and unswerving support to Fuiou’s internationalisation strategy,” Zhang said.

“Thanks to that, we are able to offer more innovative products and services to SMEs and micro businesses.”

Zhang went on to add that Nium had also impressed the company.

“We are deeply impressed by Nium’s efficient teamwork and all-function technical capabilities.”

Zhang also emphasised that Fuiou is focused on improving the service and experience of merchants in the sector.

“As a third-party payment service provider in China, Fuiou is committed to better services to merchants, especially SMEs and micro businesses.”

The international money transfers sector is full of exciting developments like these, and they’re happening every day – find out more information about them over at our reviews pages.

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