HomeNewsNium eyes South Korea market by partnering with E9pay
Nium eyes South Korea market by partnering with E9pay

Nium eyes South Korea market by partnering with E9pay

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Nium has partnered with E9pay. The partnership will see E9pay’s customers complete international money transfers in real time to new markets that include the US, India, Europe, and Indonesia.

Nium partners with E9pay

Nium, a global fintech company, has announced its partnership with E9pay. The latter firm is a digital remittance provider that is based in South Korea. The alliance between the two companies will facilitate the enhancement and expansion of international money transfers in real time. As such, E9pay’s customers will be able to send funds instantly to recipients in the United States, India, Indonesia, and Europe.

E9pay seeks to benefit from the partnership by leveraging Nium’s global network and advanced infrastructure. Subsequently, individuals and businesses will be able to transfer funds overseas in a fast and low-cost manner. The partnership will also boost E9pay’s efforts to advance their offerings of cross-border payments to commercial entities.

While speaking about the partnership, Nium’s Regional Head of Consumer and SME Business, Michael Minassian said, “South Korea’s digital infrastructure is one of the best in the world…, yet the overseas digital payments scene has yet to catch up due to complex legacy systems…we are proud to be working with E9pay to improve the cross-border digital payments service offering in South Korea.”

On the same note, E9pay’s CEO, Jeon Hyuk stated, “…we believe that our partnership with Nium can help us expand our B2B offerings in such a highly competitive market.”

Nium’s increased partnerships and expansions in emerging markets

In the recent past, fintech companies have been thriving in emerging markets. Financial technologies such as online banking, peer-to-peer lending platforms, and digital payments have resulted in the restructuring of the financial services sector.

Nium is one of the global fintech companies that have benefited from opportunities in emerging markets. Its increasing partnerships and expansions to these regions are proof of the high demand for fintech services. For instance, it has entered the South Korean market by partnering with E9pay.

Additionally, in November 2019, it partnered with Visa to offer real-time money transfers in Southeast Asia. The solution, which was first introduced to Singapore, facilitated the transfer of remittances to Southeast Asian nations such as Malaysia, Indonesia, the Philippines, Vietnam, and Thailand.

In May 2020, Nium further announced the expansion of remittance corridors for the clients of KasikornBank, which is based in Thailand. The new routes included emerging markets within the Asia-Pacific region.

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Crispus Nyaga
Crispus Nyaga
Crispus is a financial analyst with over 9 years in the industry. He covers the stock market, forex, equities, and commodities for some of the leading brands. He is also a passionate trader who operates his family account. Crispus lives in Nairobi with his wife and son.