BRI partners with Nium to expand real-time cross-border payment solutions

JAKARTA, Indonesia, Oct 18, 2024 /PRNewswire/ — Nium, the leading global real-time cross-border payments infrastructure, is pleased to announce a partnership with Bank Rakyat Indonesia (BRI) to provide real-time international money transfer capabilities to Indonesian customers. This collaboration aims to improve BRI’s cross-border offerings for retail and corporate customers and provide more accessible and cost-effective financial services everywhere Indonesia.

This partnership empowers more than 150 million BRI account holders, including those in remote regions Indonesiato access modern cross-border payment services in real time. The offering includes a variety of real-time payment mechanisms, supporting bank account destinations, a global electronic card network and digital wallets. These innovations are closely related to BRI’s ongoing mission to provide affordable and customer-centric financial products, particularly to traditionally underserved communities.

BRI Corporate Secretary Agustya Hendy Bernadi highlighted BRI’s commitment to continually improve customer convenience through innovation in its global network and cross-border transaction services. “This collaboration reflects BRI’s continued efforts to increase productivity and efficiency by expanding its digital payment channel network to meet the growing demand for global transactions,” he said. Agustya added that the partnership with Nium fits perfectly with the vision of BRI Southeast Asia “With Nium’s global transaction network, BRI is strengthening the digitalization of its business processes and improving retail banking capabilities in line with our strategic vision for 2025.”

Anupam PahujaGeneral Manager and Executive Vice President for Asia Pacific, Middle EastAnd Africa at Nium, shared his excitement about the partnership and highlighted BRI’s extensive presence across the industry Indonesia 17,000 islands. “By integrating Nium’s advanced technology into BRI’s platform, we aim to provide BRI’s customers with access to exceptional financial services, no matter where they are. This partnership will eliminate the risks associated with cash transactions and enable faster, more cost-effective transactions – whether individuals are sending money to family members abroad or businesses are making international payments.”

Cross-border payment transactions are expected to increase significantly Indonesiawith a projected 15% year-on-year increase by 2025, largely driven by digital transformation in financial services (Statista, 2024).

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This partnership between BRI and Nium is expected to transform the way Indonesians interact with global financial services by meeting the increasing demand for modern payment infrastructure and improving the overall experience for BRI’s customers in their international transactions .

About Nium

Nium, the leading global real-time cross-border payments infrastructure, was founded with a mission to deliver tomorrow’s global payments infrastructure, today. As the global economy emerges, its payments infrastructure is shaping the way banks, fintechs and companies around the world collect, exchange and disburse funds instantly across borders. Its payout network supports 100 currencies and covers more than 220 markets, 100 of which are real-time. Funds can be withdrawn to accounts, wallets and cards and collected locally in 40 markets. Nium’s growing card issuing business is already available in 34 countries. Nium has regulatory licenses and approvals in more than 40 countries, enabling seamless onboarding, rapid integration and compliance – regardless of geography. The company is headquartered in San Francisco and Singapore.

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SOURCE Nium