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

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

BRI partners with Nium to expand real-time cross-border payment solutions. Source: Shutterstock.com

Nium has partnered with Bank Rakyat Indonesia (BRI) to provide real-time international money transfer capabilities to Indonesian customers. The aim of this collaboration is to improve BRI’s cross-border offerings for retail and corporate customers and provide more accessible and cost-effective financial services across Indonesia.

This partnership enables more than 150 million BRI account holders, including those in remote regions of Indonesia, to access modern, real-time cross-border payment services

The offering includes a variety of real-time payment mechanisms, supporting bank account destinations, a global electronic card network and digital wallets

These developments are closely related to BRI’s ongoing mission to provide affordable and customer-centric financial products, particularly to traditionally underserved communities.

Agustya Hendy Bernadi, Corporate Secretary of BRI, said: “This collaboration reflects BRI’s continuous efforts to increase productivity and efficiency by expanding its digital payment channel network to meet the growing demand for global transactions. With Nium’s global transaction network, BRI strengthens the digitalization of its business processes and improves retail banking capabilities in line with our strategic vision for 2025.”

Cross-border payments in Indonesia are forecast to increase significantly, with a projected increase of 15% year-on-year by 2025

Anupam Pahuja, General Manager and Executive Vice President for Asia Pacific, Middle East and Africa at Nium, expressed excitement about the partnership and highlighted BRI’s extensive presence across Indonesia’s 17,000 islands. “By integrating Nium’s advanced technology into BRI’s platform, we are committed to providing 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.”

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

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