Nium Scores In-Principle Approval for Two Key Payment Licenses in India

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Global payments level Nium has obtained in-principle support from nan Reserve Bank of India (RBI) for 2 captious costs licenses, enabling nan patient to broaden its scope of financial products successful India.

Having secured nan Prepaid Payment Instrument (PPI), Nium will beryllium capable to rumor prepaid cards wrong India, catering to various user and business needs, specified arsenic worker expenditures and home wallets. Nium plans to partner pinch strategical paper partners to guarantee a soft acquisition for users.

Furthermore, nan Payment Aggregator (PA) licence will alteration Nium to connection merchant onboarding and acquiring services. This includes creating online spaces for merchants, simplifying nan money travel process, and enhancing websites pinch precocious exertion for easier transactions.

The licence besides positions Nium to merge pinch India’s real-time costs systems, for illustration nan Unified Payments Interface (UPI), strengthening its capabilities arsenic an end-to-end solution supplier successful merchant acquisition.

With these 2 caller approvals, alongside its existing 11 licenses, Nium will beryllium capable to connection seamless world and section payments for some customers and merchants successful India.

The licenses besides support nan company’s continued issuance of prepaid forex cards nether nan Nium Forex brand.

Anupam Pahuja

Anupam Pahuja

“We’re honoured to beryllium among nan fewer trusted by nan RBI pinch these licences and we look guardant to helping India further its activity successful payments innovation.

Nium prides itself connected applying its expertise successful world payments to advancing payments ecosystems astir nan world. These licenses make Nium a one-stop-shop for each costs needs successful India. For nan extremity customer, Nium is making it seamless for Indians to shop nan world.”

said Anupam Pahuja, Executive Vice President and General Manager, Asia Pacific, Middle East and Africa astatine Nium.

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Source Fintech