Nium, a company specialising in real-time payments, is broadening its
B2B travel payment services in the Asia Pacific (APAC) region to meet
the growing demand for its virtual credit card offering.
Nium's virtual card solution is embraced by travel intermediaries and
operators for efficient global supplier payments. Users experience
improved working capital, reduced foreign exchange fees, enhanced
acceptance rates, quicker reconciliation, reduced fraud risks, and
increased protection against refunds.
As part of this expansion, Nium is gradually introducing domestic
issuing and funding services in Hong Kong, Singapore, Australia, and
Japan, aiming to enhance the payment experience for its APAC customers.
This will be added to the existing support for over 20 currencies in
Nium's virtual card solution, already available across Europe and North
America.
Among the initial beneficiaries of Nium's new local funding and
issuing capability in Hong Kong are Connexus Travel, a corporate travel
management expert, and Convergent, a global hotel B2B platform.
This expansion coincides with the revival of tourism in APAC
following the global pandemic. The APAC travel market is projected to
reach US$490 billion by 2025, surpassing its 2019 value by 10%,
regaining its position as the world's largest regional travel market in
the same year.
Leading Nium's expansion in the region is Anupam Pahuja, Executive
Vice President and General Manager of APAC, Middle East, and Africa at
Nium. He noted, "To seize the promising growth opportunity, travel
businesses require more control, transparency, and insight into their
global payments. This expansion allows us to deliver precisely that, at a
time when our customers need it most."
Nium currently empowers major online travel agencies, payment
providers, airlines, and hotels worldwide, including Love Holidays and
Sabre Virtual Payments. Over the past year, Nium has issued more than 30
million virtual cards and has quadrupled its B2B travel revenue since
2021.