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May 20, 2022

Nium rolls out real-time payments in Malaysia

Nium has expanded its real-time payments capabilities across the globe with the launch of real-time payments in Malaysia.

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 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
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The move increases the Singapore-based payments platform’s total real-time payment markets to 100 countries. The firm now processes over 75% of transactions globally in real-time.

Malaysia registered 1.1 billion real-time payment transactions last year, according to a report by GlobalData. It is expected to grow to 3.6 billion in 2026.

Nium COO and co-founder Pratik Gandhi said: “More countries are turning to Nium to bring their legacy systems into the modern age.

“We enable money to move around the world – instantly, easily, and securely – while helping businesses position themselves for more opportunities in the digital future.”

Additional licence capabilities in Malaysia

Nium also said that it has secured an expanded licence in Malaysia. The new licence allows o onboard licensed corporations of all sizes to its platform with higher outbound limits, up to $1,362,088 (MYR 6,000,000) per day.

With the license, the firm will also have the ability to control end-user pricing.  

Issued by Bank Negara Malaysia (BNM), the International Remittance Hub (IRH) license provides Nium with in-market capabilities including Pay Out in more than 190 countries, around 100 in real-time, and settlement in local currency (MYR).

Recent moves by Nium

Last month, Nium struck a deal to take over alternative payments network platform Socash to expand its technology and capabilities to enable a range of local payment acceptance methods for digital commerce.

In March, the firm unveiled a new brokerage payments solution which helps international financial institutions to settle transactions to select US brokerages that allow customers to invest in US equities.

In February, Payment service provider ECOMMPAY teamed up with Nium to expand its payment offering to new verticals and markets globally.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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