Nium partners with E9pay to expand remittance offerings
With Asian markets recovering faster amidst the pandemic, the commercial payments companies are attempt to exploit opportunities in the region.
Some like EMQ have offered high-value cross-border payments services and same-day cross-border settlement in local currencies in eight nations. While others in the same region include the likes of Wallex, which partnered with Volopay to offer an integrated platform of SMEs in Singapore.
This week, Singapore based non-bank card issuer, Nium has partnered with Korea based digital remittance provider E9pay. Under this partnership, it will boost the remittance offering for E9pay’s corporate and individual customers. The offerings include real-time international money transfers into new markets such as Europe, Indonesia, India and the US.
“South Korea’s digital infrastructure is one of the best in the world – the country boasts one of the highest Internet speed and mobile connectivity. Yet the overseas digital payments scene has yet to catch up due to complex legacy systems,” said Michael Minassian, Vice President and Regional Head of Consumer and SME Business, Nium.
Through this partnership, E9pay will use Nium’s services and network to streamline its remittance processes for both individual and business customers for outbound transactions.
“The expansion of digital remittance corridors is also part of E9pay’s efforts to ramp up their digital cross-border payments offerings to commercial merchants, who are increasingly turning to digital financial solutions for their cross-border payment needs”, the press release noted.
E9pay’s individual and business customers can access the real-time cross-border payment capability directly through the E9pay app and the business portal.