Nium, the global infrastructure for real-time cross-border payments, announced the expansion of its real-time payout capabilities into Australia.
The move furthers Nium’s mission to offer the global real-time payments network, enabling business to “send payments across borders faster and more affordably.”
With this expansion, businesses connecting to Nium’s platform can now make real-time cross-border payments “to bank accounts in Australia, significantly reducing transaction times and costs while enhancing transparency and reliability.”
By accessing Australia’s New Payments Platform (NPP), Nium ensures instant payment processing “domestically and across borders, delivering funds to recipients within seconds.”
Alexandra Johnson, Chief Payments Officer at Nium said:
“This expansion of our network marks another milestone in our commitment to transforming global money movement. Real-time payments are becoming the global standard, and with our access to NPP, businesses can now make instant payouts into Australia from anywhere in the world to Australian accounts and Payment IDs (“PayIDs”). This is yet another step toward our goal of creating a truly global real-time network.”
As mentioned in the announcement, the addition of real-time cross-border payouts to Australia strengthens Nium’s extensive instant payments network, which “includes key markets across Asia, Europe, and the Americas.”
Businesses and FIs gain access to Nium’s infrastructure via a single API for real-time payouts, “ensuring scalability and regulatory compliance across multiple jurisdictions.”
Nium claims that it is one of the only companies to “offer real-time payouts to both bank accounts and proxies, such as PayID.”
Last year, Nium announced momentum in Australia, with 3X growth in monthly payment volume “across Oceania over 2024, driven by adoption from financial institutions and spend management platforms like AI-powered RedOwl, Weel and Budgetly.”
Expanding its presence across Oceana, Nium also entered New Zealand as a registered Financial Service Provider, “offering businesses virtual accounts, global payouts, and card solutions to enhance financial efficiency.”
With the addition of Australia, Nium continues to expand its real-time cross-border payments network, “joining the more than 100 countries already available.”