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Nium expands B2B travel payments in Asia Pacific
Real-time global payments provider Nium is ramping up its B2B travel payments offering in the Asia Pacific region.
Reacting to rising demand for its virtual credit card service, Nium is progressively rolling out domestic issuing and funding in Hong Kong, Singapore, Australia, and Japan.
Travel intermediaries use Nium’s virtual card solution to efficiently pay suppliers around the world.
This results in reduced foreign exchange fees and increased acceptance rates.
It also means faster reconciliation and less opportunities for fraud.
These new markets add to over 20 existing currencies already supported by Nium’s virtual card solution in Europe and North America.
Corporate travel management firm Connexus Travel and Convergent, the global hotel B2B platform, are among the first of Nium’s new customers to benefit from the new local funding and issuing in Hong Kong.
The total travel market in APAC will reach a projected $490 billion in 2025, 10% higher than in 2019.
Nium powers some of the largest OTAs, airlines, and hotels globally, including Love Holidays and Sabre Virtual Payments.
It has issued over 30 million virtual cards over the last 12 months and quadrupled B2B travel revenue since 2021.
“Travel is a dynamic industry that can enable humans to defy gravity, yet its payment systems remain earthbound,” said Spencer Hanlon, Global Head of Travel Payments at Nium.
“We are perfectly positioned to help customers solve unique payment problems with local execution on a global scale.”
Nium’s expansion is the first step in a global roadmap for Nium, with further expansion in APAC and LATAM on the horizon.
In addition to its virtual credit card, it offers a closed loop payments solution for airlines, and real-time cross-border collections and payouts in over 100+ currencies.
Nium is co-headquartered in San Francisco and Singapore, with regional offices in London, Amsterdam, Lithuania, Malta, Hong Kong, Mumbai, Bengaluru, and Chennai.
Learn more about : Nium ( Asia Pecific )
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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