Nium, the real-time global payments company, has expanded its B2B travel payments offering in the APAC region, building on rising demand for its virtual card solution offering globally.
Travel intermediaries and operators use Nium’s virtual card solution to efficiently pay suppliers around the world. Its customers benefit from optimised working capital because of reduced foreign exchange fees, increased acceptance rates, faster reconciliation, fewer opportunities for fraud, and better protection against refunds.
Nium is rolling out a combination of domestic issuing and funding in Hong Kong, Singapore, Australia, and Japan to further enhance the payment experience for its new and existing customers in APAC. This will be added to over 20 existing currencies already supported by Nium’s virtual card solution across Europe and North America. The expansion comes amidst a rebound in APAC tourism after the global pandemic.
Anupam Pahuja, Executive Vice President and General Manager of APAC, Middle East and Africa at Nium said, “In order to capitalise on the exciting growth opportunity at hand, travel businesses need more control, transparency, and insight into the way they make payments around the world,” said Pahuja. “This expansion enables us to deliver just that, at a time when our customers need it most.”
“Travel is a dynamic industry that can enable humans to defy gravity, yet its payment systems remain earthbound,” said Spencer Hanlon, Global Head of Travel Payments at Nium.
“Razor-thin profit margins, tighter regulation, and changing consumer preferences mean online travel agents and intermediaries are increasingly demanding more flexible, secure, and cost-effective ways to pay their suppliers located around the world. Our roots as a remittance fintech born out of Singapore, combined with 20 years of travel expertise, means we are perfectly positioned to help our customers solve their unique payment problems with local execution on a global scale,” added Hanlon.