?? Nium Empowered: RBI Grants Approval for Payment Licences! ????

Nium , the pioneer in global payments, has proudly secured in-principle approval from the Reserve Bank of India (RBI) for two prestigious licences: the Prepaid Payment Instrument (PPI) Licence and the Payment Aggregator (PA) Licence. ?? These approvals mark a significant milestone, paving the way for Nium to emerge as the ultimate destination for payments in India.

The PPI Licence empowers Nium to issue versatile prepaid cards, catering to various consumer and business needs within India. From employee spending to domestic wallets, these cards promise convenience and flexibility, backed by Nium's seamless end-to-end experience.

?? In addition, the PA Licence allows Nium to offer merchant onboarding and acquiring services, facilitating smoother fund flow processes and integrating cutting-edge technology for enhanced checkout experiences. Nium is set to connect with real-time payment offerings like India Unified Payments Interface (UPI), solidifying its position as an end-to-end acquiring solution provider.

Anupam Pahuja , Executive Vice President and General Manager, Asia Pacific, Middle East, and Africa at Nium, expressed his excitement, saying, "We're honoured to be among the few trusted by the RBI with these licences... These licences make Nium a one-stop-shop for all payment needs in India."

As Nium expands its presence in India, these licences will enable the company to offer a wide range of services, driving financial inclusion and empowering businesses with advanced payment solutions. With a total of 13 licences, including these latest additions, Nium is poised to deliver seamless global and local payments, ensuring convenience for both customers and merchants across India.