Nium to provide cross-border payments for PhillipBank
Nium, the cross-border payments platform formally known as InstaRem, is to process cross-border payments for the clients of PhillipBank, a Cambodian banking group.
With this partnership with PhillipBank, Nium will provide a cross-border platform for global enterprises and financial institutions. This should enable the clients of PhillipBank to have faster turnarounds with facilitated delivery times and payout amounts.
Nium says it already processes payments for four of the top ten Southeast Asian banks, as well as for financial institutions across the globe.
“With Cambodian businesses and institutions increasingly engaging with their global counterparts exploring new possibilities for collaboration , we must expand our cross-border payment capabilities into key markets across the world” Ong Teong Hoon, CEO of PhillipBank, said. “We are already witnessing increasing demand from our customers for cross-border payments services.”