Nium expands virtual card issuance to the U.S.

THE NEWS: Singapore‑based cross‑border payment firm Nium has launched domestic card issuance in the United States, allowing businesses to issue local cards alongside its existing APAC, Europe and Middle East offerings.

DETAILS:

Nium has a large customer base in Europe and the Asia‑Pacific region.
The company aims to tap demand from the corporate‑travel market, which it describes as large but complex.
Nium plans to leverage its existing European and Asian customers that operate in the U.S. as the initial base for its American expansion.
Chief revenue officer Anupam Pahuja said “Booking can take multiple payments to get done,” and added that virtual cards can solve that challenge.

WHY IT MATTERS: By adding U.S. domestic card issuance, Nium can address the fragmented payment processes of corporate travel and gain a foothold in the sizable U.S. business‑payments market, potentially expanding its global footprint.

FAQ

What new service has Nium introduced in the United States?
Nium has launched domestic card issuance in the United States, enabling businesses to issue locally‑registered payment cards and extending the firm’s existing capability to issue cards in APAC, Europe and the Middle East.

Which markets did Nium already serve before its U.S. launch?
Prior to the U.S. launch, Nium’s customer base was concentrated in Europe and the Asia‑Pacific region, where it already provides cross‑border payment services and local card issuance across those markets.

Who commented on the payment challenges for corporate travel and what solution did they propose?
Anupam Pahuja, chief revenue officer of Nium, told American Banker that “Booking can take multiple payments to get done” and that virtual cards can solve that challenge, highlighting the firm’s focus on simplifying corporate travel payments.

Read Original Article.