Nium, the leading global infrastructure for real-time cross-border payments, today announced the expansion of its real-time payment network, with the addition of Interac in Canada. This latest expansion reinforces the company’s strategy to build out the world’s largest real-time payments infrastructure, enabling businesses to move money faster, securely, and at a lower cost across borders.
With Interac, Nium’s customers can now access one of Canada’s most widely-used payment networks, enabling real-time cross-border transfers to individuals and businesses nationwide in Canadian dollars. By accessing Interac, Nium continues to enhance its network, providing businesses with real-time processing capabilities to reduce settlement times and improve cash flow. It also allows for access to a broader range of payment options for domestic and international transactions in Canada, so that customers can choose the best option for the use case.
Instant payments are critical to the success of businesses, allowing for:
- Improved Cash Flow Management: Instant payments help businesses manage liquidity better, reducing the need for excessive working capital and allowing faster reinvestment in operations.
- Faster Cross-Border Transactions: Traditional international payments can take days, while real-time payment corridors allow businesses to move money instantly across markets.
- Operational Efficiency: Automating and streamlining payments reduces reliance on manual processes, lowers administrative costs, and minimizes errors.
- Regulatory and Market Adaptation: Many markets are shifting toward real-time payment systems, and businesses that adopt them early can stay compliant and ahead of industry trends.
“We aim to provide businesses with the most advanced payment infrastructure,” said Alexandra Johnson, Chief Payments Officer at Nium. “With Interac, we’re giving our customers access to direct integrations that offer faster ways to move money across borders and within key markets.”
With this new addition, Nium continues to expand its global footprint, providing businesses access to over 100 real-time payment corridors, including leading networks such as Singapore’s FAST, India’s UPI, and the European SEPA Instant. The company’s infrastructure is designed to enable instant settlement, improved liquidity management, and compliance with local regulations, ensuring a seamless payment experience for enterprises across industries. Most recently, Nium announced its real-time payment capabilities in Australia, allowing businesses connecting to Nium’s platform to make real-time cross-border payments to Australian bank accounts, reducing transaction times and costs.