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Emirates NBD and Nium join forces

Wednesday 8 May 2024 13:50 CET | News

Nium has partnered with Emirates NBD, a banking group in the MENAT region, to provide customers with a global payments solution.  

As per the official announcement, the partnership, which is subject to regulatory approvals, seeks to elevate the remittance experience with seamless, instantaneous cross-border transfers between the UAE and countries worldwide.  

Remittances from the UAE have been driven by a growing expatriate population and cross-border trade. Hence, by leveraging Nium’s payouts services, Emirates NBD is able to offer customers real-time, cost-effective payment solutions with speed and reliability.

Nium has partnered with Emirates NBD, a banking group in the MENAT region, to provide customers with a global payments solution.

Furthermore, the statement continues to explain that Emirates NBD selected Nium as a partner, due to its Nium's global network, comprehensive capabilities worldwide, and the advanced functionality of its platform, APIs, and tech stack as decisive factors. 

Officials from Nium commented that the Middle East is a key market for the company. Therefore, this partnership with Emirates NBD extends its presence into the region. 

A recently launched white paper by Nium states that with trillions of dollars flowing through the region each year, and more expected as real-time payment adoption accelerates further, the result is a region that is primed for success and growth.  

Other recent partnerships from Nium 

In May 2024, Borderless AI partnered with Nium, aiming to revolutionise cross-border payments in the Employer of Record (EOR) industry. This collaboration aimed to enhancing efficiency, transparency, and speed in global employment and payroll solutions. The traditional EOR process often faces delays and inefficiencies in cross-border payments, leading to administrative bottlenecks and hindered business operations. With Nium's technology integration, Borderless AI is able to streamline operations, offering faster, more efficient, and secure payment solutions. This enables organisations to navigate international complexities, pay employees and contractors, and manage remote teams more efficiently. 

In April 2024, Nium announced the expansion of its collaboration with Thredd aiming to issue virtual cards in the Asia Pacific (APAC) region. The move followed the environment where global B2B travel transaction volumes are expected to reach nearly USD 1.7 trillion by 2027. Additionally, the APAC region is set to become the fastest-growing market, with it being projected to reach USD 480 billion by the same year. Nium’s virtual cards are leveraged by travel intermediaries to pay hotels, airlines, and other worldwide travel suppliers, with the product delivering increased security, efficiency, and reduced costs. 

In the same month, the company announced its official registration as a Financial Services Provider in New Zealand. This step signifies Nium's entry into New Zealand's financial landscape and aims to underline its dedication to offering innovative financial solutions worldwide. This registration adds to Nium's existing array of licences and registrations, covering over 40 countries globally. In 2024, Nium has obtained approvals or in-principle approvals for four licences and registrations. 

Source: Link


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Keywords: partnership, Global Payments, remittance, cross-border payments, payment methods
Categories: Payments & Commerce
Companies: Emirates NBD, Nium
Countries: Africa, Middle East, Turkey
This article is part of category

Payments & Commerce

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Emirates NBD

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Nium

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