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Global fintech platform Nium expands Visa card issuing service in Europe

14.07.2020 – 10:01

Nium

SINGAPORE, Jan.

The announcement will be made shortly after the service launches in Australia and underscores Nium's global plans

Nium, a global financial technology platform, today announced a partnership with Visa to expand its card issuing service to Europe. This came shortly after the company announced a similar service in Australia. The white label card solution is intended to help companies improve their cost efficiency and increase productivity.

While the retail card segment has made great strides in terms of customer offerings and customer experience, relatively little has happened in corporate card management. It still takes months to set up, register and manufacture, only to be integrated into a legacy system with rigid functions. In addition, the creation, management, and distribution of maps are typically performed by different companies, which is not only cumbersome but also costly. Through this partnership with Visa, Nium will streamline and simplify the business card management program by consolidating all of these processes into a single system. This in turn enables companies to gain more control while realizing significant cost savings.

With this Visa partnership, Nium is able to offer a seamless issuing, processing and incorporation service in less time. Companies using company cards issued by Nium can:

- Make transfers in real time to both physical and virtual Visa credit and debit cards, such as: B. Crediting pay slips to Visa cards - enabling secure digital payments through tokenization of in-store, online and ATM payments - opening up easy payment experiences for businesses and consumers around the world through multi-currency cards with multipocket / wallet expense management capabilities

The flexibility of Nium's API tools and holistic spending services in conjunction with Visa's products and services enables Nium to support various spend management use cases. These can be viewed across different business models and platforms, from companies looking to balance their employees' business entertainment and travel expenses, to companies looking to pay overseas vendors and vendors, to innovative technology companies making payments to want to send their community.

"As payments become more and more online, a large proportion of corporate spending by employees is still processed through company-issued cards. This is even more the case in Europe, where card payments are still dominant [1]. We see the need to improve the existing business card systems. We launched the same service in Australia and Singapore earlier this year and achieved great results with it, so we look forward to working closely with Visa to pursue our mission of improving business efficiency through the adoption and simplification of financial technology, "said Gitesh Athavale, director of cards at Nium.

For more information on Nium's card issuing service, visit: https://www.nium.com/platform/?tab=spend.

[1] https://www.europeanpaymentscouncil.eu/sites/default/files/inline-files/Pa yment% 20Methods% 20Report% 202019% 20-% 20Innovations% 20in% 20the% 20Way% 20We% 20Pay. pdf

Information on Nium

Nium is a global financial technology platform that is redefining the way consumers and businesses send, spend and receive money across borders. The company is continuously innovating to offer the most relevant and agile solutions to meet consumer and business needs, having evolved from focusing solely on consumer referrals through InstaReM to becoming a provider of fintech solutions for businesses. Nium operates as a regulated provider in Australia, Canada, the EU, Hong Kong, India, Indonesia, Japan, Malaysia, Singapore and the US, processing billions of dollars annually for banks and payment institutions, next generation e-commerce players, OTAs and Retail users all over the world. Nium's investors include Visa, BRI Ventures, Vertex Ventures, Vertex Growth, Fullerton Financial Holdings, GSR Ventures, Rocket Internet, Global Founders Capital, SBI Japan, FMO (Dutch Development Bank), MDI Ventures, Beacon Venture Capital and Atinum Investment.

More information is available at www.nium.com.

Press contact:

e:
Gillian Loo
+65 9863 8120
[email protected]

Original content by: Nium, transmitted by news aktuell