Nium looks to expand presence in LatAm with new licence applications
Nium, a cross-border B2B payments provider headquartered in San Francisco, is intensifying its expansion efforts into Latin America by applying for additional “essential licences”.
Nium applies for new licences in LatAm
The paytech, which currently holds regulatory licences in over 40 countries, including a UK licence acquired in 2020, has applied for a Payment Institution licence in Brazil.
This new licence will allow Nium to extend its payment services to the country, including facilitating real-time payments via Pix and local fund management in BRL.
In addition, Nium aims to enhance its FX transaction capabilities by also securing authorisation as a foreign exchange.
Commenting on the intended development, Prajit Nanu, founder and CEO of Nium, states: “Latin America has established itself as a frontrunner in numerous cross-border use cases, particularly in global marketplaces where its e-commerce economy thrives in supplier corridors with Asia and Europe.”
“Recognising this potential, we have been strategically investing in Latin America for years, securing major clients and expanding our operations,” adds Nanu.
A recent example of Nium’s regional efforts is its June partnership with Brazilian digital bank BS2, which has seen the challenger leverage Nium’s Global FX solution.
Furthermore, Christina Hutchinson, VP of business development LatAm at Nium, hints that, going forward, the paytech is “also working to bring our travel offering and card issuance to the region, once our new licences are in place”.
To support the growth of its “physical presence” in the region, Nium intends to hire roles in business development and partnerships.
