Nium partners blockchain-based Partior on cross-border payments

Editorial

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The partnership makes Nium the first fintech payment service provider on the Partior network. Financial institutions will be able to connect with Nium via Partior for 24×7 real-time payouts, clearing, and settlement to over 100 markets worldwide with no additional API integration work.

Partior says its blockchain-powered platform effectively resolves longstanding inefficiencies in global payments, such as settlement delays, high costs, and limited transaction transparency.

“By integrating with advanced networks, such as Partior, we are ensuring that financial institutions can quickly and easily access our real-time payments infrastructure without the need for complex technical integrations,” says Alexandra Johnson, chief payments officer, Nium.

Humphrey Valenbreder, CEO, Partior, adds: “Partnering with Nium marks a significant step in our journey to further advance the global payments landscape. By combining Partior’s real-time blockchain settlement network with Nium’s vast global reach, we’re empowering financial institutions to break down long-standing barriers.”

The DLT-based platform is used by JP Morgan, Standard Chartered and fellow founding investor DBS to facilitate payments for their customers. Companies including Siemens and iFAST Financial have used Partio through Standard Chartered for better access and control of their working capital, 24×7 availability, and faster, more seamless payment flows.

The network raised raised $60 million in Series B funding in July and last month signed up Emirates NBD as the first regional and UAE Dirham, Saudi Riyal and Indian Rupee settlement bank on the platform.