Bank Rakyat Indonesia taps Nium for international money transfers
Bank Rakyat Indonesia (BRI) has teamed up with California-based cross-border B2B payments provider Nium to offer Indonesian customers real-time international money transfer services.
BRI partners Nium for cross-border payments in Indonesia
The 150 million account holders currently served by BRI will now have access to a variety of real-time payment mechanisms, including account-to-account transfers, the use of electronic cards, and digital wallets.
The partnership will provide services for BRI’s individual and corporate clients, with a specific focus on including those in remote areas of Indonesia.
BRI corporate secretary, Agustya Hendy Bernadi, says the collaboration aims to expand the Jakarta-headquartered bank’s network of digital payment channels to “meet the growing demand for global transactions”.
This partnership with BRI comes amid a busy 2024 for Nium, which has collaborated with Air France and Dutch airline KLM, applied for a Payment Institution license in Brazil, and landed a $50 million Series E funding round.
The round, finalised in June, valued the paytech at $1.4 billion, a 30% decrease from its previous $2 billion valuation in 2022.
