.png@webp)
.png@webp)
Real-time global payments leader enables banks, platforms, and businesses to lock and hold FX rates, settle conversions on scheduled dates, and compare competing FX rates
SAN FRANCISCO, Calif. and SINGAPORE – October 23, 2023 — Nium, the leader in real-time global payments, today announced Nium Global FX – a product that allows for guaranteed and competitive FX rates. This includes the ability to lock and hold an FX rate for up to 24 hours and settle FX conversions on a future scheduled date, which helps businesses mitigate the risk of currency fluctuations and improve cash flow.
Global FX allows businesses to hold funds in more than 60 different currencies, allowing for instantaneous payments to employees and vendors worldwide; while Nium's transparent pricing structure ensures that businesses can conduct FX trades with a simple, single markup. The company also introduced the FX rate comparison calculator which enables real-time access to the last interbank rates as well as access to historical rates so you can compare costs from other providers and reveal the hidden markups and fees.
“Our technology teams have been working hand in glove with customers to solve some of the hardest pain points to moving money, globally, in real-time,” said Ramana Satyavarapu, CTO at Nium. “Our payments infrastructure has the most logistics capabilities so that customers have complete transparency and visibility into where their money is, and how much it costs to send. Gone are the days of cross-border money movement being an opaque black box. We’re bringing global business payments into the light.”
“We’ve seen that customers want agility, a simple experience, and competitive prices, but at the same time, they want security, transparency, and good service,” said Mauro Neto, Commercial and Business Development Director at Treviso. “The Brazilian market is very competitive, and the customer compares rates, fees, and settlement times constantly. Nium provides us with a significant cost reduction in fees and FX, speed of payments, and coverage. Treviso stands out in the Brazilian FX market as a major player with innovative IT solutions and Nium supports us in that effort as one of our major settlement providers.”
Additionally, Nium announced a suite of products and features focused on transparency, predictability, and reliability, including, Nium Chronometer, which optimizes payment routing for time, market availability, and cost efficiency with artificial intelligence and machine-learning-driven payment delivery estimation. The revolutionary payment routing solution addresses the challenges of managing manual payment processes through multiple intermediaries. Click here to read about the new products and features.
With these introductions, Nium empowers banks, businesses, and platforms to address some of the barriers to real-time global money movement by streamlining global payment operations and logistics, making it easier for developers to test integrations, routing payments optimally and mitigating FX risk. Nium has invested significantly in the expansion of its global payments infrastructure in 2023, adding direct debit options for payroll providers, zero-deduction wires for USD transfers, new funding options for travel clients, and opening of new corridors across Africa and Latin America. The company’s innovation roadmap continues to propel its growth which year over year topped 70%.