Indian-founded InstaReM morphs into enterprise payments platform Nium

Wednesday 30 October 2019 12:44 CET | News

Open Banking Report 2019

India-based cross-border digital payments company InstaReM has announced rebranding to become part of Nium, an enterprise payments platform.

Open Banking Report 2019

Nium aspires to become enabler; creator of an open platform that businesses and partners can use to build a world free of the old constraints and restrictions – a world of Open Money. The Nium platform is open for developers to be able to build new payments capabilities. Corporates and startups in India would be able to leverage the Nium infrastructure to solve existing challenges in global payments.

It was during the recent USD 41 million Series C funding round earlier this year, that InstaReM had indicated its intention to transit to an open money platform. Now, in October 2019, the transition is complete with the launch of Nium, the new Open Money platform, which is engineered by the team that created InstaReM in 2015. InstaReM will continue to remain a digital remittance solution, but will now be part of – and powered by – the Nium platform.

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Keywords: InstaRem, Nium, enterprise payments platform, rebranding, payments platform, online payments, digital payments, India, Asia, APAC, series C funding, funding round
Categories: Payments & Commerce
Countries: India
This article is part of category

Payments & Commerce