Nium, the global enabler of real-time cross-border payments, announced that its monthly payment volume grew by 3X in Oceania, over the last year.
This growth has been driven by a surge in adoption “from financial institutions and spend management platforms, with AI platform, RedOwl, being the latest partner to join the Nium network.”
RedOwl’s immediate goal is to bring AI to corporate cards, “joining spend management category leaders Weel and Budgetly, who have turned to Nium for white-label card issuing and cross-border payouts. ”
RedOwl is bringing the power of AI into payment rails, championing intelligence and real-time decision making when it comes to card related payments.
Jitto Arulampalam, Co-founder and CEO at RedOwl:
“We chose Nium because of their unparalleled infrastructure and expertise in powering modern payments. Their solutions allow us to enter the market faster and deliver greater value to our customers.”
Budgetly has been a Nium customer since 2020.
The company tapped Nium to provide “more convenience and control to its SME clientele through the provision of pre-paid cards for expense management processes.”
In addition to its success in Australia, Nium recently “achieved another critical milestone by registering as a Financial Service Provider in New Zealand.”
This pivotal step marks the company’s entry “into the dynamic financial landscape of New Zealand, allowing it to extend its comprehensive suite of financial solutions to local businesses.”
Nium expects that its offerings will range “from virtual accounts and global payouts to debit and prepaid cards, enabling businesses to streamline operations and improve their financial efficiency.”
The company stated:
“Becoming a registered Financial Service Provider in New Zealand reaffirms our commitment to delivering innovative financial solutions globally. Our presence in New Zealand, alongside our established operations in Australia, positions us as a key player in the region’s financial ecosystem, empowering businesses to thrive through our technology.”
Since its founding ten years ago, Nium has raised “over $300 million USD (up to Series E). In October 2023, Nium celebrated its Centaur status, reaching $100 million USD in aggregate net revenue — a milestone achieved by only 1% of startups globally.”
