Nium to expand in India with newly secured in-principle payment licenses

Fintech player Nium is set to make a significant impact in the vibrant Indian market following a strategic nod from the Reserve Bank of India.

• Expanding Horizons: Nium, founded by Prajit Nanu and Mike Bermingham, has received in-principle approval for key financial licenses, setting the stage for an expansion of its offerings.

• A New Wave of Products: The new licenses will empower Nium to launch a range of financial products, adding to their existing offerings including the Nium Forex prepaid cards.

• Empowerment through Prepaid Cards: With the prepaid payment instrument license, Nium plans to introduce versatile prepaid cards tailored for employee expenses and to top-up domestic wallets. They are set to collaborate with various card partners, aiming to elevate the end-user experience with innovative solutions.

• Merchant Growth: The payment aggregator license will foster merchant onboarding, enabling sellers to grow their businesses with robust acquiring solutions.

• Real-Time Connections: This move also brings Nium into the real-time payments arena via the Unified Payments Interface, tapping into a network brimming with potential.

Based out of Singapore and San Francisco, with a presence in global hubs like London, Amsterdam, Hong Kong, and key Indian cities such as Mumbai, Bengaluru, and Hyderabad, Nium operates under a mantle of international credibility with licenses across over 40 countries.