Nium, a real-time cross-border payments platform, has officially become a registered Financial Services Provider in New Zealand.

This marks Nium’s first formal entry into New Zealand’s financial market, enhancing its global footprint which now spans over 40 countries.

The company’s new status in New Zealand is part of a broader strategy that includes recent license approvals in several countries, including Japan and India.

Nium secured a Type 1 Funds Transfer Service Provider license in Japan, while in India, it obtained a Prepaid Payment Instrument license and a Payment Aggregator license, both issued by the Reserve Bank of India.

The registration allows Nium to potentially offer a variety of financial services to New Zealand businesses, such as virtual accounts, debit and prepaid cards, funds collection, and global payout options.

This expansion builds on Nium’s established presence in the Oceania region, particularly through partnerships with major Australian spend management platforms.

In addition to its registration, Nium is also now a card-issuing partner for Weel, an Australian spend management platform.

Russell Martin, Co-Founder and CTO at Weel said,

“Our partnership with Nium is a key enabler of our strategy to support the global spend management needs of our customers.

Nium’s registration in New Zealand paves the way for us to meet demand from our customers to bring our offering to the New Zealand market in the coming months.”

Runn Sachasiri, Senior Vice President of Global Expansion and CEO’s Office at Nium said,

“We are thrilled to bring Nium’s innovative cross-border payments services to New Zealand.

We look forward to enabling businesses to do more commerce with New Zealand by providing the speed, efficiency, and transparency of payments that has long been missing from the global markets.”

Featured image credit: Edited from Freepik

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• Source: https://fintechnews.sg/94632/payments/niums-global-expansion-continues-with-new-zealand-registration/