Fintech platform Nium has partnered with payment giant Visa to offer card issuance in Australia
The fintech has become a Visa card issuer in Australia by joining Visa’s Fintech Fast Track programme.
As a card issuance licensee of Visa, Nium will provide end-to-end issuing, processing and onboarding services to its clients in Australia, all within two-to-four weeks.
Moreover, the company will use the issuance licence to extend its portfolio to its clients in Australia and beyond.
The agreement will enable Nium to carry out real-time funds transfers to both physical and virtual Visa credit and debit cards.
It can also facilitate secure digital payments via tokenisation for in-stores, online payments and at ATM points.
Nium head of cards product Gitesh Athavale said: “One of Nium’s primary goals is to improve business efficiency through the introduction and facilitation of financial technology, and this partnership with Visa allows us to do that at scale.
“The flexibility of our APIs tools and turnkey infrastructure, coupled with Visa products and services, allow us to support different use cases for Spend Management seen across various business models and platforms.
“From companies looking to reconcile T&E for employees, businesses looking to pay suppliers and vendors overseas, or innovative technology companies looking to send payments to their community, we are able to customise the solution for each and every single one of them.”
In addition, Nium is also partnering with Australian music platform Emanate to issue the corporate StreamCard for disbursing royalties to musicians and artistes.
Once they play the music their fees are automatically topped up in the card, allowing them to access and use those funds across all Visa points of sale (POS) terminals.
The latest move comes after Nium added Visa and BRI Ventures as its new investors last month.