As per the information provided in the press release, Nium’s new product features are set to be available on its existing global payments platform, allowing marketplaces to integrate a suite of capabilities. These aim to simplify payouts to their cross-border sellers operating in several countries globally.
Delivering flexible multi-currency payouts, with users being able to pay worldwide sellers in nearly 220 markets, more than 100 currencies, and over 100 real-time corridors to bank accounts, cards, and wallets;
Improved onboarding by instantly validating and authorising payout accounts and utilising automated ID verification Know Your Customer (KYC) and Know Your Business (KYB) capabilities;
Taxpayer information reporting, as users can collect details to fulfil tax calculations and reporting obligations;
Enhanced FX management, with customers being able to lock and hold rates to improve the administration of currency risks and control transaction costs;
Global licencing by accessing Nium’s network of licences in more than 15 jurisdictions for comprehensive worldwide coverage and regulatory compliance.
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