Singapore - 17 April 2024 – Nium, the global leader in real-time, cross-border payments, and Asia’s leading payments, banking, and capital markets research firm, Kapronasia, today launched “Breaking Borders: The Revolution of Real-Time Cross-Border B2B Payments in Asia” - a new data-backed white paper that addresses cross-border B2B payment challenges, current initiatives, and the important role of intermediaries.
In global commerce, cross-border B2B payments are crucial, yet hindered by complexity, high costs, and slow processing times. These challenges, compounded by diverse regulatory environments, can erode profitability and stall growth. There's a pressing need for innovation and reform in cross-border payments. In the paper, readers will learn more on how fintech solutions and regulatory harmonization efforts promise to simplify processes, reduce costs, and speed up transactions. The research calls out initiatives, such as SWIFT GPI, Project Nexus, and ASEAN’s Regional Payment Connectivity, alongside emerging technologies, that signal a brighter future for cross-border transactions. Download the paper to see the data and learn more.
"Cross-border B2B payments are critical, but they face formidable challenges - from outdated systems to regulatory complexities,” said Zennon Kapron, Founder and Director of Kapronasia. “Our latest research, in collaboration with Nium, sheds light on this critical issue. As we chart the course forward, it's evident that transformative change is imminent. Intermediaries like Nium play a pivotal role in this journey, bridging gaps and reshaping the landscape of global commerce. However, this transformation demands collective action to overcome technological and regulatory hurdles. Yet, the vision is clear - a world where cross-border transactions flow seamlessly, fostering collaboration across borders.”
The launch of the paper is a part of a wider push leading into Money 20/20 Asia in Bangkok, Thailand (April 23-25). Nium plans to take the city by storm with announcements, panels, and parties, that highlight its expansion in the region.
The company will be making three blockbuster announcements during the event:
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First, in a bold move to fortify its regional footprint, Nium is expanding its presence in Indonesia and will be signing an MOU at Money 20/20 with a pioneer in the Indonesian fintech space. Nium has also made headway into the dynamic landscape of Korea with the official launch of a key Korean bank, marking a pivotal milestone in its expansion journey and supporting its mission to further financial inclusion, globally. The company has already made waves in Thailand, where it powers four of the country's premier banks;
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Second, Nium will be announcing its first ever Chief Payments Officer. With this newly-created position, Nium sets itself up to closer align itself with partners across the payments ecosystem. Nium’s CPO will work across Nium’s markets, leading the company’s Global Banking and Payment Operations teams;
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Finally, Nium will be show continued momentum in the exploding travel payments space, announcing a partnership with a leading global payments processor to issue virtual cards in the APAC region. By 2027, virtual card transactions industry-wide are expected to exceed 121 billion as travel intermediaries and their suppliers look for modern solutions to streamline payments.
Nium will be visible on the event’s main stages:
On April 23 at 10:00 a.m. in a session titled, “Travel in China: The Next Big Niche,” Richard Cogswell of Nium Travel will sit down with Jensen Cai, Head of Hong Kong at Triplink and Betsy Samuel, Chief Marketing Officer at Thredd to talk China travel trends and the future of payments in China and beyond.
Then at 3:00 p.m. on the Vision Stage, in one of the conference’s most anticipated panels titled, “Beyond Competition: How Asian Payments Leaders are Shaping the Future Together,” Nium’s EVP and GM of APAC and MEA, Anupam Pahuja, will join banking leaders Rajnish Pal, Founding Member at ZING by HSBC and Shun De Ng, Group Head of Payments at DBS, to discuss competition and cooperation in fintech. The talk will be moderated by global banking industry expert, Alexandra Johnson.
After all the excitement from the first two days of the conference, Nium and Beacon Venture Capital will invite attendees to unwind at Nium @ Nite Market with street food, drinks and music on April 24 from 6:00 PM to 8:00 PM at the Marriott Marquis Queen’s Park.
Finally, the Nium team will be on the ground at booth #1002 throughout the conference to provide free global payments assessments, answering questions on a range of topics, including:
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How to take advantage of Nium’s 100+ real-time markets to help your business grow;
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How to manage FX better by collecting and holding funds in a Nium multi-currency wallet;
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How issuing physical or virtual cards can streamline vendor payments and control employee expenses;
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How a global account strategy can streamline global payouts; and,
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How real-time payouts can help your business grow
Register for our event, book a meeting, and find out about more Nium’s presence here.