This furthers the company’s mission to provide a comprehensive real-time payments network and allow businesses to send payments internationally faster and more affordably.
Businesses connected to Nium’s platform can now make real-time cross-border payments to bank accounts in Australia, reducing costs and transaction times while improving reliability.
By leveraging Australia’s New Payments Platform (NPP), the company ensures that businesses can make instant payouts into Australia from anywhere in the world to accounts and proxies, such as PayIDs.
International businesses can gain access to Nium’s platform via a single API for global real-time payments. This ensures simple scalability and regulatory compliance across multiple jurisdictions.
This move is part of Nium’s commitment to create a global real-time network and transform money movement. The addition of real-time cross-border payouts to Australia improves Nium’s network, which includes markets across Asia, Europe, and North and South America.
In 2024, the company announced its progress in Australia, with three times growth in monthly payment volume driven by adoption from financial institutions and spend management platforms such as RedOwl, Weel, and Budgetly.
Expanding across Oceania, the company also entered New Zeelend as a registered Financial Service Provider, providing virtual accounts, global payments, and card solutions. This added to Nium’s existing range of licences and registrations, covering over 40 countries globally.
In 2024, the company obtained approvals or in-principle approvals for three more licences and registrations, including Type 1 Funds Transfer Service Provider (FTSP) licence from Japan's Financial Service Agency (FSA), and Prepaid Payment Instrument (PPI) and Payment Aggregator (PA) licences from the Reserve Bank of India (RBI).
For more information about Nium, please check out their detailed profile in our dedicated, industry-specific Company Database.
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