Nium is strengthening its presence in Latin America by applying for essential licences, joining key fintech associations, expanding its employee presence and signing new customers.
This continued expansion is a step towards Nium’s commitment to enhancing the global payments landscape in this strategic region.
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By GlobalDataThis month Nium applied for a Payment Institution Licence in Brazil, which will enable the company to provide payment services to clients including managing funds locally in BRL and real-time payments through Pix. Additionally, Nium is seeking FX authorisation in Brazil to enhance its foreign exchange transaction capabilities.
These licences will elevate clients’ trust in Nium’s risk and compliance processes, ensuring secure and efficient transactions
Prajit Nanu, Founder and CEO of Nium, commented: “Latin America has established itself as a frontrunner in numerous cross-border use cases, particularly in global marketplaces where its e-commerce economy thrives in supplier corridors with Asia and Europe. Recognising this potential, we have been strategically investing in Latin America for years, securing major clients and expanding our operations. This ongoing growth empowers us to further bolster the region’s vibrant and dynamic landscape.”
Nium continues to expand its customer and partner footprint in Latin America. The company recently announced a partnership with BS2, a digital bank in Brazil specialising in fintech solutions for businesses. BS2 leverages Nium’s Global FX product to reduce FX costs and enable real-time payouts between Brazil and key trading corridors like China and the UAE.
BS2 also joined Nium’s network of partner banks, acting as Nium´s Brazilian Real (BRL) Correspondent Bank and assisting real-time payment settlement for cross-border Pix transfers.
Christina Hutchinson, VP of Business Development LATAM at Nium, said: “We’ve made significant strides this year in expanding our presence in LATAM. Nium is rapidly building and scaling local payout rails across the entire region to help better serve our target verticals, which are primarily banks, FIs, and platforms. We’re also working to bring our travel offering and card issuance to the region, once our new licences are in place. Brazil specifically has the potential to be a global leader in digital payment innovation and our advancements in cross-border payment solutions are creating meaningful impacts on millions of lives worldwide.”
