Nium, the cross-border payments platform formally known as InstaRem, has become a Visa issuer in Australia as apart of its membership in Visa’s Fintech Fast Track Programme. With this, Nium will be able to provide end-to-end issuing, processing, onboarding services and it will shorten the lead time for Visa card issuance to four to six weeks.
Nium will utilize this partnership and use the issuance license to extend its portfolio to its clients in Australia and beyond, providing end-to-end B2B and B2C issuing services globally. This license will also help Nium to conduct real-time funds transfer to both physical and virtual Visa Credit and Debit cards, enable secure digital payments through tokenisation and unlock single payment for businesses and consumers through multi-currency cards.
“One of Nium’s primary goals is to improve business efficiency through the introduction and facilitation of financial technology, and this partnership with Visa allows us to do that at scale,” said Gitesh Athavale, Head of Product (Cards), Nium. “The flexibility of our APIs tools and turnkey infrastructure, coupled with Visa products and services, allow us to support different use cases for Spend Management seen across various business models and platforms”.