Nium, a leader in real-time cross-border payments, has partnered with Indonesian payment firm Artajasa, aiming to enhance international transaction efficiency in the Asia Pacific region.
In a major stride towards expanding its global footprint in the Asia Pacific region, Nium, a frontrunner in real-time cross-border payments, has announced a strategic partnership with Indonesian payment giant Artajasa. This collaboration, formalized through a Memorandum of Understanding (MOU), promises to enhance the speed and reliability of international financial transactions to and from Indonesia, energizing the regional economy and fostering a more integrated global payment infrastructure.
Based in Singapore and San Francisco, Nium has been pivotal in transforming international money movement. Leveraging a robust technological platform, Nium’s network supports transactions in over 100 currencies across more than 190 countries, with real-time capabilities in 100 of these. This expansion is a testament to Nium’s commitment to providing agile and compliance-oriented financial solutions that transcend geographical boundaries.
Artajasa, a leader in Indonesia’s digital payment space, operates crucial switching services that power electronic transactions for banks and fintech companies. Established as PT Artajasa Pembayaran Elektronis, the firm has played a pivotal role in advancing Indonesia’s banking infrastructure, offering comprehensive payment solutions across various sectors including telecommunications, finance, insurance, and e-commerce, among others.
The collaboration will capitalize on Artajasa’s extensive local network, which includes connections to over 80,000 ATMs and 98 banking members throughout Indonesia. This vast network aligns with Nium’s objective to enhance the ease and efficiency of cross-border payments, thereby supporting businesses and individuals in the region to engage more fluidly in global commerce.
The announcement was made at the prestigious Money 20/20 Asia event in Bangkok, where Nium’s Executive Vice President and General Manager for the Asia Pacific and Middle East regions, Anupam Pahuja, detailed this move. Having joined Nium in 2023, Pahuja has been a catalyst in Nium’s enhanced operational focus in Asia, a region pulsing with digital innovation and growing financial interconnectivity.
This partnership dovetails with Nium’s recent series of collaborations in Asia. In Korea, Nium teamed up with Jeonbuk Bank, launching a real-time remittance service that aims to support the country’s burgeoning immigrant workforce. Meanwhile, in Thailand, Nium’s technology is now pivotal to the cross-border transaction capabilities of four leading Thai banks: Kasikorn Bank, Krungsri (Bank of Ayudhya), Krungthai Bank, and Siam Commercial Bank, reinforcing Nium’s positioning as a top-tier provider of financial technology solutions in the region.
Further strengthening its regulatory framework, Nium recently secured several key licenses and registrations across Asia-Pacific nations, including a Type 1 Funds Transfer Service Provider License in Japan and both a Prepaid Payment Instrument and Payment Aggregator License in India, among others. These regulatory milestones enhance the company’s capability to offer compliant and seamless payment solutions, reflecting its dedication to maintaining high standards of operational integrity and client trust.
The convergence of Nium’s cutting-edge international payments platform with Artajasa’s robust local infrastructure not only marks a significant milestone in Asia’s financial services landscape but also exemplifies the transformative power of strategic partnerships in the realm of global finance. This collaboration is set to redefine the benchmarks of cross-border transactional efficacy and security, paving the path for a more interconnected and financially inclusive global market.