Spend management platform, RedOwl, joins as latest
partner;
Nium has seen monthly payment volume grow
by 3X over the last twelve months, in the Oceania region
SYDNEY, Sept. 17,
2024 /PRNewswire/ -- Nium, the global leader in
real-time cross-border payments, today announced that its monthly
payment volume grew by 3X in Oceania, over the last year. This
growth has been driven by a surge in adoption from financial
institutions and spend management platforms, with AI platform,
RedOwl, being the latest partner to join the Nium network. RedOwl's
immediate goal is to bring AI to corporate cards, joining spend
management category leaders Weel and Budgetly, who have turned to
Nium for white-label card issuing and cross-border
payouts.
RedOwl is bringing the power of AI into payment rails,
championing intelligence and real-time decision making when it
comes to card related payments. "We chose Nium because of their
unparalleled infrastructure and expertise in powering modern
payments. Their solutions allow us to enter the market faster and
deliver greater value to our customers," said Jitto Arulampalam,
Co-founder and CEO at RedOwl.
Budgetly has been a Nium customer since 2020. The company
tapped Nium to provide more convenience and control to its SME
clientele through the provision of pre-paid cards for expense
management processes. "Partnering with Nium has been a game-changer
for Budgetly," said Simon Lenoir,
CEO and Founding Director at Budgetly. "Through Nium, we recently
launched our international bill payment solution, offering our
customers the ability to make payments effortlessly via one portal.
This partnership has allowed us to scale rapidly and offer seamless
experiences for our customers."
"The spend management industry is booming in Australia, with businesses increasingly
turning to Nium for its white-label card issuing and cross-border
payment solutions," said Anupam
Pahuja, EVP and GM for APAC, Middle East, and Africa at Nium. "Our platform solves complex
payment problems across a wide range of verticals, including
travel, payroll, insurance, and e-commerce. Our card issuance
solution has already issued over 75 million cards globally,
supporting major global brands. This, along with Nium's extensive
geographical coverage and B2B infrastructure focus, positions the
company as a critical enabler for businesses looking to scale in
Australia, New Zealand, and beyond."
In addition to its success in Australia, Nium recently achieved another
critical milestone by registering as a Financial Service Provider
in New Zealand. This pivotal step
marks the company's entry into the dynamic financial landscape of
New Zealand, allowing it to extend
its comprehensive suite of financial solutions to local businesses.
Nium expects that its offerings will range from virtual accounts
and global payouts to debit and prepaid cards, enabling businesses
to streamline operations and improve their financial
efficiency.
"Becoming a registered Financial Service Provider in
New Zealand reaffirms our
commitment to delivering innovative financial solutions globally,"
continued Pahuja. "Our presence in New
Zealand, alongside our established operations in
Australia, positions us as a key
player in the region's financial ecosystem, empowering businesses
to thrive through our technology."
Since its founding ten years ago, Nium has raised over
$300 million USD (up to Series E). In
October 2023, Nium celebrated its
Centaur status, reaching $100 million
USD in aggregate net revenue — a milestone achieved by only
1% of startups globally. This achievement underscores Niums rapid
growth and leadership in enabling seamless global financial
services for businesses.
About Nium
Nium, the global leader in real-time, cross-border payments, was
founded on the mission to deliver the global payments
infrastructure of tomorrow, today. With the onset of the global
economy, its payments infrastructure is shaping how banks,
fintechs, and businesses everywhere collect, convert, and disburse
funds instantly across borders. Its payout network supports 100
currencies and spans 220+ markets, 100 of which in real-time. Funds
can be disbursed to accounts, wallets, and cards and collected
locally in 40 markets. Nium's growing card issuance business is
already available in 34 countries. Nium holds regulatory licenses
and authorizations in more than 40 countries, enabling seamless
onboarding, rapid integration, and compliance – independent of
geography. The company is co-headquartered in San Francisco and Singapore.
Media contacts:
Anjali DMello,
+6591812542,
anjali.dmello@nium.com
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