Hong Kong’s renowned luxury jewellery brand, Chow Sang Sang, has announced its foray into the North American market. This expansion is made possible through a strategic partnership with Nuvei, an international payments company.
Genevieve Chow, the Chief Brands Officer at Chow Sang Sang, shed light on the decision to collaborate with Nuvei. She explained that the company was chosen for its localised, secure and seamless payment system. “As we embark on our international expansion, particularly targeting North America, it’s crucial for us to have a payments partner that upholds our commitment to excellence,” she said.
Nuvei’s platform is set to provide Chow Sang Sang with opportunities to penetrate into 50 markets. It also extends support for over 150 currencies and 720 alternative payment methods. This comprehensive system directly connects to global card networks, enhancing the approval rates and minimising payment friction.
“Nuvei’s cutting-edge technology, local expertise, and global reach equip us to provide the premium experience our customers anticipate, both online and in-store,” Chow further stated.
Nuvei’s recent attainment of a Money Services Operator (MSO) license in Hong Kong strengthens its position. The license enables Nuvei to offer local acquiring and settlement services in the market. This significant move supports Nuvei’s broader expansion goals in the Asia-Pacific region, including Greater China, Japan, Singapore and Australia.
Phil Fayer, CEO of Nuvei, expressed his outlook on the partnership with Chow Sang Sang. He said, “Luxury brands like Chow Sang Sang are destined for global growth. With our MSO license and the expanding footprint in the APAC region, we’re excited to support the region’s most promising companies with payment technology designed for scalability.”
Chow Sang Sang is a significant player in the luxury jewellery market, operating over 900 self-run stores spread across Mainland China, Hong Kong, Macau, and Taiwan. Its portfolio includes notable brands such as Chow Sang Sang, Promessa, MintyGreen, and Emphasis.
What is the significance of Chow Sang Sang’s partnership with Nuvei?
The partnership enables Chow Sang Sang to expand its operations into North America, backed by Nuvei’s seamless and secure payment system.
What advantages does Nuvei’s platform offer to Chow Sang Sang?
Nuvei’s platform provides access to 50 markets, supports over 150 currencies and 720 alternative payment methods, and directly connects with global card networks, improving approval rates and reducing payment friction.
What does Nuvei’s recent acquisition of a MSO license mean for the company?
The MSO license empowers Nuvei to offer local acquiring and settlement services in the Hong Kong market, supporting its broader expansion in the Asia-Pacific region.
