Nium and Artajasa augment cross-border payments in Indonesia

Tuesday 23 April 2024 14:10 CET | News

US-based payments provider Nium has partnered with Indonesia-based payment infrastructure company Artajasa to augment cross-border transfers for Indonesians.


Nium announced it will sign a partnership Memorandum of Understanding (MOU) with Artajasa, one of Indonesia’s 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.

Nium has partnered with Indonesia-based payment infrastructure company Artajasa to augment cross-border transfers for Indonesians.

Nium’s activity in Asia Pacific

Since 2023, Nium has expanded significantly in Asia Pacific and Middle East regions. One of it’s latest partners is Jeonbuk Bank in Korea, who 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 been seen as a 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 the company’s commitment to delivering innovative financial services and fostering long-term relationships with key industry players.

Officials from Artajasa said that as an institution that has experience in providing solutions for various digital payment services in Indonesia, they welcome the strategic collaboration established with Nium to expand cross-border payments, while encouraging digital penetration in Indonesia, regionally, and globally. This collaboration will further strengthen their commitment to providing integrated, easy, and secure payment solutions for customer’s needs.

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 Asian payments, banking, and capital markets research company Kapronasia.

Licences and registrations in key markets

Nium’s extensive portfolio of licenses and registrations cover more than 40 countries globally. Just in 2024, Nium has received approvals/in-principle approvals for four licences and registrations, including:

  • Japan: Type 1 Funds Transfer Service Provider (FTSP) licence from Japan’s Financial Service Agency (FSA);

  • India: Prepaid Payment Instrument (PPI) licence from the Reserve Bank of India (RBI);

  • India: Payment Aggregator (PA) licence from the Reserve Bank of India (RBI);

  • New Zealand: Registration on the Financial Service Provider Register (FSPR).

For more information about Nium, please check out the company profile in The Paypers Company Database.

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Keywords: cross-border payments, real-time payments, payments infrastructure, expansion, fintech
Categories: Payments & Commerce
Companies: Artajasa, Nium
Countries: Indonesia
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Payments & Commerce




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