With this licence, Nium can provide end-to-end issuing, processing, and onboarding services, and shorten the lead time for Visa card issuance to four/six weeks.
According to the official press release, Nium plans to use the issuance license to extend its portfolio to clients in Australia and beyond, providing end-to-end B2B and B2C issuing services. Through the partnership, Nium will be able to conduct funds transfers to both physical and virtual Visa Credit and debit cards, to enable digital payments through tokenisation for in-stores, online payments, and at ATM points.
Besides, Nium would offer access for companies with end-to-end card issuing solutions, allowing them to operate digital wallets that can be used across multiple POS within Visa’s global acceptance network. To find out more about Nium, you can check out our interview with Aditi Sholapurkar, Head of Strategy and Investor Relations at Nium, here.
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