MICROCAPITAL BRIEF: Fintechs E9pay, Nium Offer Personal, B2B Money Transfers Between South Korea, Europe, India, Indonesia, US

Nium, a Singapore-based financial technology (fintech) infrastructure platform, recently partnered with E9pay, a digital remittance provider in South Korea, to allow E9pay clients to send remittances to and from India, Indonesia, the US, and other markets, including in Europe. These clients include both individuals and businesses.

Referring to the overseas payment infrastructure in South Korea, Nium Vice President Michael Minassian said, “the overseas digital payments scene has yet to catch up due to complex legacy systems. Nium is always looking to improve remittance experience and business efficiency through the introduction and facilitation of financial technology, and we are proud to be working with E9pay to improve the cross-border digital payments service offering in South Korea.”

With a license from the Ministry of Economy and Finance of South Korea, E9pay provides remittance services to 126 countries as of September 2020.

Founded in 2014 as InstaReM, Nium has served 3.2 billion users since its inception. The firm provides remittances in 63 currencies across 100 countries, including 65 countries in which it offers real-time transfers.

By Romil Pandey, Research Associate

Sources and Additional Resources

Nium press release
https://www.nium.com/insights/nium-announces-expansion-of-remittance-routes-for-e9pay-customers/

Nium homepage
https://www.nium.com

E9pay homepage
https://www.e9pay.co.kr

Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at http://www.microcapital.org/products-page/.