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Nium and Kapronasia Partner to Shed Light on Cross-border B2B Payment Challenges in Asia
The launch of the paper is the first of many activations Nium has planned for Money 20/20 Asia
SINGAPORE, April 19, 2024 /PRNewswire/ — Nium, the global leader in real-time, cross-border payments, and Asia’s leading payments, banking, and capital markets research firm, Kapronasia, today launched “Breaking Borders: The Revolution of Real-Time Cross-Border B2B Payments in Asia“ – a new data-backed white paper that addresses cross-border B2B payment challenges, current initiatives, and the important role of intermediaries.
In global commerce, cross-border B2B payments are crucial, yet hindered by complexity, high costs, and slow processing times. These challenges, compounded by diverse regulatory environments, can erode profitability and stall growth. There’s a pressing need for innovation and reform in cross-border payments. In the paper, readers will learn more on how fintech solutions and regulatory harmonization efforts promise to simplify processes, reduce costs, and speed up transactions. The research calls out initiatives, such as SWIFT GPI, Project Nexus, and ASEAN’s Regional Payment Connectivity, alongside emerging technologies, that signal a brighter future for cross-border transactions. Download the paper to see the data and learn more.
“Cross-border B2B payments are critical, but they face formidable challenges – from outdated systems to regulatory complexities,” said Zennon Kapron, Founder and Director of Kapronasia. “Our latest research, in collaboration with Nium, sheds light on this critical issue. As we chart the course forward, it’s evident that transformative change is imminent. Intermediaries like Nium play a pivotal role in this journey, bridging gaps and reshaping the landscape of global commerce. However, this transformation demands collective action to overcome technological and regulatory hurdles. Yet, the vision is clear – a world where cross-border transactions flow seamlessly, fostering collaboration across borders.”
The launch of the paper is a part of a wider push leading into Money 20/20 Asia in Bangkok, Thailand (April 23-25). Nium plans to take the city by storm with announcements, panels, and parties, that highlight its expansion in the region.
The company will be making three blockbuster announcements during the event:
- First, in a bold move to fortify its regional footprint, Nium is expanding its presence in Indonesia and will be signing an MOU at Money 20/20 with a pioneer in the Indonesian fintech space. Nium has also made headway into the dynamic landscape of Korea with the official launch of a key Korean bank, marking a pivotal milestone in its expansion journey and supporting its mission to further financial inclusion, globally. The company has already made waves in Thailand, where it powers four of the country’s premier banks;
- Second, Nium will be announcing its first ever Chief Payments Officer. With this newly-created position, Nium sets itself up to closer align itself with partners across the payments ecosystem. Nium’s CPO will work across Nium’s markets, leading the company’s Global Banking and Payment Operations teams;
- Finally, Nium will be show continued momentum in the exploding travel payments space, announcing a partnership with a leading global payments processor to issue virtual cards in the APAC region. By 2027, virtual card transactions industry-wide are expected to exceed 121 billion as travel intermediaries and their suppliers look for modern solutions to streamline payments.
Nium will be very visible on the event’s main stages:
On April 23 at 10:00 a.m. in a session titled, “Travel in China: The Next Big Niche,” Richard Cogswell of Nium Travel will sit down with Jensen Cai, Head of Hong Kong at Triplink and Betsy Samuel, Chief Marketing Officer at Thredd to talk China travel trends and the future of payments in China and beyond.
Then at 3:00 p.m. on the Vision Stage, in one of the conference’s most anticipated panels titled, “Beyond Competition: How Asian Payments Leaders are Shaping the Future Together,” Nium’s EVP and GM of APAC and MEA, Anupam Pahuja, will join banking leaders Rajnish Pal, Founding Member at ZING by HSBC and Shun De Ng, Group Head of Payments at DBS, to discuss competition and cooperation in fintech. The talk will be moderated by global banking industry expert, Alexandra Johnson.
After all the excitement from the first two days of the conference, Nium and Beacon Venture Capital will invite attendees to unwind at Nium @ Nite Market with street food, drinks and music on April 24 from 6:00 PM to 8:00 PM at the Marriott Marquis Queen’s Park.
Finally, the Nium team will be on the ground at booth #1002 throughout the conference to provide free global payments assessments, answering questions on a range of topics, including:
- How to take advantage of Nium’s 100+ real-time markets to help your business grow;
- How to manage FX better by collecting and holding funds in a Nium multi-currency wallet;
- How issuing physical or virtual cards can streamline vendor payments and control employee expenses;
- How a global account strategy can streamline global payouts; and,
- How real-time payouts can help your business grow
Register for our event, book a meeting, and find out about more Nium’s presence here.
About Nium
Nium, the leader in real-time, cross-border payments, was founded on the mission to deliver the global payments infrastructure of tomorrow, today. With the onset of the global economy, its payments infrastructure is shaping how banks, fintechs, and businesses everywhere collect, convert, and disburse funds instantly across borders. Its payout network supports 100 currencies and spans 190+ countries, 100 of which in real-time. Funds can be disbursed to accounts, wallets, and cards and collected locally in 35 markets. Nium’s growing card issuance business is already available in 34 countries. Nium holds regulatory licences and authorizations in more than 40 countries, enabling seamless onboarding, rapid integration, and compliance – independent of geography. The company is co-headquartered in San Francisco and Singapore.
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View original content:https://www.prnewswire.co.uk/news-releases/nium-and-kapronasia-partner-to-shed-light-on-cross-border-b2b-payment-challenges-in-asia-302122574.html
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Multiple achievements made in China-Hungary BRI conference
BUDAPEST, Hungary, May 3, 2024 /PRNewswire/ — Multiple achievements were made on Thursday at a conference focused on cooperation between China and Hungary under the Belt and Road Initiative (BRI) framework.
Under the guidance of China’s State Council Information Office, the conference was co-hosted by Xinhua News Agency and Hungary’s ATV Media Group in Budapest.
Xinhua has always been committed to concentrating efforts and contributing to the joint building of the Belt and Road between the two countries, President of Xinhua News Agency Fu Hua said while addressing the event.
The conference aims to further implement the consensus reached by leaders of the two countries and promote pragmatic cooperation at various levels across the board so as to make new and greater contributions to the Belt and Road cooperation between the two countries with more innovative results, Fu said.
At the conference, the Belt and Road Economic Information Partnership (BREIP), which was initiated by Xinhua News Agency, inaugurated an Eastern European liaison office.
The China NGO Network for International Exchanges launched a non-governmental Belt and Road cooperation project with Hungary.
The official website of the BRI introduced a dedicated sector for industrial cooperation between China and Hungary.
A report on investment and cooperation between the two countries under the Belt and Road framework was also released.
About 200 people, including government officials, representatives from chambers of commerce and the business sector, as well as heads of major media outlets and think tanks from both countries joined the event.
Fu noted that Xinhua will continue to provide in-depth coverage of high-level interactions between the two countries and present major achievements of the two countries’ high-quality Belt and Road cooperation in an all-round and multi-perspective manner.
Stressing efforts to strengthen exchanges with Hungarian think tanks, Fu also urged making full use of platforms and mechanisms including the World Media Summit and the BREIP to roll out even more tangible results.
Fu also stressed the importance of providing services for China–Hungary cooperation in various areas and better promoting the in-depth integration of the BRI cooperation and Hungary’s “Opening to the East” policy.
Hungary and China have achieved fruitful results in Belt and Road cooperation, Hungarian Minister for National Economy Marton Nagy said at the conference, citing the Hungary-Serbia railway project as an example.
Hungary sees China’s economic development as an important opportunity, Nagy said, stressing that investment from Chinese companies including Bank of China, CATL and BYD has been driving the development of related industries.
Nagy said Hungary is willing to strengthen mutually beneficial cooperation with China in areas such as infrastructure and high-tech, and act as a link between China and Europe.
Liu Hongcai, deputy head of the Chinese Association for International Understanding, called for efforts from various sectors of the two countries to thoroughly implement the important consensus reached by the leaders of the two countries and further promote people-to-people exchanges and mutual learning between civilizations.
More momentum for future-oriented cooperation should be fostered and cooperation platforms at all levels should make full use of their advantages to respond to global challenges, Liu said.
Liu voiced his hope that people from all walks of life in the two countries will make active contributions to promoting bilateral relations.
During the past years, economic ties and trade between the two countries have flourished, said Tamas Kovacs, CEO of ATV.
Based on the extensive cooperation between ATV and Chinese media outlets, the audience is able to have a better understanding of the fruitful achievements of the two countries’ joint efforts, Kovacs said, adding that such cooperation will be carried on to help the two peoples to better understand each other’s culture and values.
Participating guests also visited a photo exhibition on the pragmatic BRI cooperation between China and Hungary.
View original content:https://www.prnewswire.co.uk/news-releases/multiple-achievements-made-in-china-hungary-bri-conference-302135240.html
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