Nium, a Singapore-based platform for modern money movement, announced Thursday the availability of real-time payments into Malaysia, further strengthening the company’s real-time payments capabilities across the globe.

Nium said in a statement that with the addition of Malaysia, it now processes over 75 percent of transactions globally in real-time, and increases its total real-time payment markets to a market-leading 100 countries.

Cited GlobalData, Nium said that Malaysia recorded 1.1 billion real-time payment transactions in 2021, accounting for an estimated $434 million cost savings for businesses and consumers. The report also forecasts real-time transactions in Malaysia to grow to 3.6 billion in 2026.

“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,” said Pratik Gandhi, Chief Operating Officer and Co-Founder at Nium.

With real-time payments in Malaysia and other emerging markets around the world expected to surge in the coming years, Nium is uniquely positioned to help global businesses drive faster payments, better manage liquidity, satisfy their customers, and ultimately grow their business faster across the globe.

Nium has also announced it has secured an expanded license in Malaysia, and it is now able to onboard licensed corporations of all sizes to its platform – including Financial Institutions and PSPs – with higher outbound limits, up to MYR6 million ($1.36 million) per day, and the ability to control end user pricing.

The “International Remittance Hub” (IRH) license is issued by the central bank of Malaysia, Bank Negara Malaysia (BNM), and it provides Nium with in-market capabilities including Pay Out in more than 190 countries, with over 100 in real-time, as well as technology and compliance cost savings for businesses, and settlement in local currency (MYR).

Launched in 2014, Nium is a global platform for modern money movement. It provides banks, payment providers, and businesses of any size with access to global payment and card issuance solutions. Its modular platform powers frictionless commerce, helping businesses pay and get paid across the globe.

Once connected to the Nium platform, businesses are able to pay out in more than 100 currencies to over 190 countries – 100 of which in real time. Funds can be received in 27 markets, including Southeast Asia, United Kingdom, Hong Kong, Singapore, Australia, India, and the United States.

Nium’s growing card issuance business is already available in 34 countries, including Europe (SEPA), the UK, Australia and Singapore. Its license portfolio covers 11 of the world’s jurisdictions, enabling seamless global payments and rapid integration, regardless of geography.

In July last year, the company announced that it has raised over $200 million in Series D funding, making it the first business to business (B2B) payments unicorn from Southeast Asia. With this new round of funding, it welcomed private equity firm United States-based private equity firm Riverwood Capital as a strategic investor. The company is also backed by Temasek, Visa, Vertex Ventures, Atinum Group of Funds, Beacon Venture Capital, and Rocket Capital Investment.

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