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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