Nium and FINCI Team to Boost International Payments

global payments

FinTech company FINCI has partnered with Singapore-based payments and card-issuance provider Nium to utilize Nium’s offerings across Asia-Pacific (APAC) and Europe, the Middle East and Africa (EMEA), according to a Tuesday (Feb. 1) Business Mondays report.

The collaboration “will enable real-time payments to new markets and improve services to existing regions for FINCI’s individual and business customers,” the report says.

“Empowering young businesses with global reach and helping them build their footprint internationally is our main goal at Nium,” Nium Chief Revenue Officer Frederick Crosby said in the report. “Addressing and overcoming the constraints of local payments infrastructures is a real need for companies, such as FINCI.

“This partnership will give FINCI customers access to more markets, allowing them to make payments in real time at competitive FX rates, with no hidden fees or additional transactional costs,” he said.

FINCI hopes to expand its services to Asia, Africa and Latin America through partnerships with Nium and other companies. It serves companies in sectors including shipping, IT, aircraft management, logistics, trading and construction.

“Our partnership with Nium is all about making it easier for FINCI customers to move money around the world,” FINCI Chief Executive Officer Mihails Kuznecovs said in the report, whether it’s people sending money to family overseas or businesses that must make or receive payments in local currencies.

Related: Nium Helps Crypto-Fiat Gateway Alchemy Expand

In January, Nium and crypto-fiat gateway Alchemy Pay (ACH) partnered to broaden Alchemy’s global reach. The collaboration means Alchemy gets to pay out funds to clients at much lower costs in more than 190 countries.

In December, Nium said it was working with Oman’s Modern Exchange Co. That project will allow Modern Exchange to use the Nium network to connect with correspondent banks around the globe, so that customers can make real-time payments.