White-labelling card solutions help businesses drive cost-efficiency and 
increase productivity

Nium, a global financial technology platform, has become a Visa issuer in 
Australia as part of its membership in Visa's Fintech Fast Track programme. 
With this licence, Nium is able to provide end-to-end issuing, processing and 
onboarding services, and shorten the lead time for Visa card issuance to just 
four to six weeks. 

Logo - https://photos.prnasia.com/prnh/20200120/2696826-1LOGO

Nium plans to use the issuance license to extend its portfolio to clients in 
Australia and beyond, providing end-to-end B2B and B2C issuing services 
globally. Through this partnership, Nium will be able to:

- Conduct real-time funds transfers to both physical and virtual Visa Credit 
and Debit cards, for instance, deposition of payroll into Visa cards
 
- Enable secure digital payments through tokenization for in-stores, online 
payments and at ATM points 

- Unlock simple payment experiences for businesses and consumers around the 
world through multi-currency cards with multi-pocket/wallet spend management 
features

Currently, business owners rely on outdated card management systems as part of 
their corporate bank accounts. There is limited or no digital access, and 
significant time is spent on reconciling expenses and claims. Integrating and 
managing a card issuing programme can generate significant competitive 
advantage for businesses, such as an increase in productivity, but it also can 
pose a significant challenge as it requires deep vertical expertise and 
considerable commitment from the business. 

Nium would streamline and simplify access for companies with end-to-end card 
issuing solutions, allowing them to operate intelligent digital wallets that 
can easily be used across millions of points of sale within Visa's global 
acceptance network.

"One of Nium's primary goals is to improve business efficiency through the 
introduction and facilitation of financial technology, and this partnership 
with Visa allows us to do that at scale. The flexibility of our APIs tools and 
turnkey infrastructure, coupled with Visa products and services, allow us to 
support different use cases for Spend Management seen across various business 
models and platforms, from companies looking to reconcile T&E for employees, 
businesses looking to pay suppliers and vendors overseas, or innovative 
technology companies looking to send payments to their community, we are able 
to customise the solution for each and every single one of them," said Gitesh 
Athavale, Head of Product (Cards), Nium.

For instance, Nium has recently worked with Australian SME banking solutions 
provider, Budgetly[https://www.budgetly.com.au/], to offer corporate cards to 
their SME clientale. The card will be linked to Budgetly's analytics tools to 
help small businesses with cash flow monitoring and expense tracking. 

"Businesses in Australia are starting to recognise the need for a digital 
solution that will revamp existing corporate card management system. The 
antiquated system that involves physical paperwork to edit card management 
settings, lack of rewards interface and delayed expense tracking will no longer 
survive in today's age where digitisation is king, and we are glad to be 
partnering with Nium to provide a robust digital solution for the next 
generation of business owners whom are demanding a better banking experience," 
said Simon Lenoir, Founder and CEO of Budgetly.

Nium is also working with Australian music platform 
Emanate[https://emanate.live/home], to disburse royalties to musicians and 
artistes via the corporate StreamCard. Fees are topped up automatically once 
the artistes' music has been played, enabling them to access and use the funds 
across all Visa's points of sales immediately. 

"As a music community dedicated to increasing speed and fairness for our 
artists through technology, Emanate is excited to be able to use a progressive 
and financial services product like Nium. Our goal of giving musicians near 
real-time access to streaming royalties is becoming much easier thanks to the 
Nium-powered Emanate StreamCard. This will change the lives of our musicians 
from day one. Imagine releasing a song in the morning, and that night your 
plays cover a round of beers with your friends to celebrate. It's never been 
done before," said Sean Gardner, CEO Blockchain Music Pty Ltd (Emanate).

This announcement comes shortly after Nium introduced the addition of Visa and 
BRI Ventures as new investors to the six-year-old startup in May 2020. For more 
information on Nium's card issuance service, please visit: 
https://www.nium.com/platform/?tab=spend.

About Nium

Nium is a global financial technology platform redefining the way consumers and 
businesses send, spend and receive funds across borders. The company is 
continuously innovating to provide the most relevant and agile solutions to 
meet the needs of consumers and businesses, having evolved from solely focusing 
on consumer remittance via InstaReM, to also providing fintech solutions for 
businesses from 2019. Nium is regulated in Australia, Canada, European Union, 
Hong Kong, India, Indonesia, Japan, Malaysia, Singapore and the United States 
of America, and processes billions of dollars a year for banks and payments 
institutions, the next generation of e-commerce players, OTAs and retail users 
across the world. Nium's investors include Visa, BRI Ventures, Vertex Ventures, 
Vertex Growth, Fullerton Financial Holdings, GSR Ventures, Rocket Internet, 
Global Founders Capital, SBI Japan, FMO (Netherlands Development Finance 
Company), MDI Ventures, Beacon Venture Capital and Atinum Investment.

For more information, visit: http://www.nium.com. 

Media Contacts: 

Gillian Loo 
+65-863-8120 
Gillian.loo@nium.com 

SOURCE: Nium