Global payments expansion in Indonesia; adds to recent successes in Korea
and Thailand
BANGKOK, April 22, 2024 /PRNewswire/ -- Nium, the
global leader in real-time cross-border payments, today announced
it will sign a partnership Memorandum of Understanding (MOU) with
Artajasa, one of Indonesia's
leading payment infrastructure companies. Artajasa operates the
switching services banks and fintechs use to facilitate fast,
secure, and reliable electronic transactions. The partnership will
ensure seamless, real-time, cross-border transfers between
Indonesia and the world.
The MOU will be signed tomorrow at Money 20/20 Asia in Bangkok by Nium's Executive Vice President and
General Manager for the Asia
Pacific and Middle East
regions, Anupam Pahuja. The
strategic collaboration demonstrates Nium's commitment to
modernizing the world's cross-border payments infrastructure,
bringing it into the real-time era.
Under the leadership of Pahuja, who joined the company in 2023,
Nium has expanded significantly in the region. Today Nium announced
that its partner, Jeonbuk Bank in Korea, has gone live with
its real-time remittance service, enabling the bank to serve a
growing number of immigrant clients better.
In Thailand, Nium has proven to
be the gold standard for cross-border payments, its platform powers
four of the country's premier banks: Kasikorn Bank, Krungsri (Bank
of Ayudhya), Krungthai Bank, and Siam Commercial Bank. These
partnerships further underscore Nium's commitment to delivering
innovative financial services and fostering long-term relationships
with key industry players.
"Nium's growth in APAC reflects our dedication to transforming
the global financial landscape," said Anupam Pahuja, Regional Executive Vice President
of APAC & MEA. "By partnering with leading institutions like
Artajasa and JB Bank, we aim to help businesses accelerate their
growth across the region with secure, efficient, and innovative
financial solutions."
"As an institution that has experience in providing solutions
for various digital payment services in Indonesia, we certainly welcome the strategic
collaboration established between Nium and Artajasa to expand
cross-border payments, while encouraging digital penetration in
Indonesia, regionally and
globally. This collaboration will certainly further strengthen our
commitment to providing integrated, easy, and secure payment
solutions to answer customer needs," explained Heru Perwito,
Director of Business, Artajasa.
In addition to growth in the region, Nium recently launched a
new data-backed white paper that addresses cross-border B2B
payment challenges in APAC, current initiatives, and the important
role of intermediaries, alongside Asia's leading payments, banking, and capital
markets research firm, Kapronasia.
Nium's extensive portfolio of licenses and registrations cover
more than 40 countries globally. In 2024, Nium has received
approvals / in-principle approvals for four licenses and
registrations, including:
- Japan: Type 1 Funds
Transfer Service Provider (FTSP) license from Japan's Financial Service Agency (FSA);
- India: Prepaid Payment
Instrument (PPI) license from the Reserve Bank of India (RBI);
- India: Payment
Aggregator (PA) license from the Reserve Bank of India (RBI); and,
- New Zealand:
Registration on the Financial Service Provider Register
(FSPR).
About Nium
Nium, the 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 190+ countries, 100 of which in real-time.
Funds can be disbursed to accounts, wallets, and cards and
collected locally in 35 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.
About Artajasa:
PT Artajasa Pembayaran Elektronis (Artajasa), a trailblazing
pioneer in the Indonesian banking infrastructure network and
establishing itself as a market leader in switching services,
including ATM Bersama, ATM Bersama Debit, ATM Bersama QR and
connected to more than 80.000 ATMs with 98 bank members throughout
Indonesia. Artajasa is also
provide of Payment Services, Settlement Services and Managed
Services for many industries, such telecommunications services,
multi-finance, insurance, public services, energy, education,
transportation, electronic money, credit cards, e-commerce,
donations and so on.
Artajasa continues to strengthen the payment system ecosystem as
a form of Artajasa's support as a leading integrated cashless
payment enabler company in Indonesia, by providing optimal services for
various institutions, customers, and the public through various
integrated payment system service solutions.
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