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Nium and Thredd Expand Partnership to Power B2B Travel Payments in APAC

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SINGAPORE, April 23, 2024 /PRNewswire/ — Nium, the global leader in real-time cross-border payments, today announced the expansion of its partnership with Thredd, a leading global payments processor, to issue virtual cards in the Asia Pacific (APAC) region.

 

 

Nium’s virtual card solution is used by travel intermediaries to effectively pay hotels, airlines, and other global travel suppliers with enhanced security, efficiency, and reduced costs. The expansion comes as global B2B travel transaction volumes are projected to reach $1.7 trillion by 2027, according to Thredd’s latest report, with the APAC region the fastest-growing market expected to reach $480 billion in the same year.

By integrating Thredd APIs into its single platform for instant global payments, Nium has been able speed up transactions to 200 milliseconds when issuing and loading virtual cards in nearly 30 countries worldwide. Certified by Visa and Mastercard to process credit, debit, and prepaid card transactions globally on one platform, via the partnership Thredd also enables Nium to increase acceptance rates and guarantee card scheme protection for its travel intermediary customers. Together, the fintech duo have issued 86 million virtual cards globally since 2018.

Powered by Thredd’s global processing capabilities, Nium has successfully launched local issuing in Singapore as part of its strategic expansion in B2B travel payments across APAC. In the last 12 months, Nium has doubled APAC travel customer revenue and seen a 75% increase in virtual card transaction volumes in the region.

“APAC presents a substantial opportunity for global travel intermediaries that will in turn spur robust competition, a boon for consumers, and accelerated growth for the global travel ecosystem. Fuelling this unmistakeable growth is the rise of innovative B2B travel payment solutions, like that offered by Nium. Our long-standing collaboration is a great example of how fintech partnerships are propelling other industries forward,” said Jim McCarthy, CEO at Thredd.

“With a world of travel options now available in the palm of your hand, travel intermediaries and their hotel partners are under increasing pressure to reduce costs whilst maintaining a compelling customer experience. Virtual card payments are a game-changer for the travel industry, enabling intermediaries to improve cash flow for their hotel partners, in turn driving better prices and deeper connections with consumers. With Thredd’s technology, we can continue to meet the evolving needs of the travel ecosystem on a global scale, now and in the future,” said Spencer Hanlon, Global Head of Travel Payments at Nium.

Download Nium’s latest research on how virtual cards are transforming the travel payments landscape here.

About Nium

Nium, the global 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.

About Thredd

Thredd is the trusted next-gen payments processing partner for innovators looking to modernise their payments offerings worldwide. Processing billions of debit, prepaid and credit transactions annually, serving over 100 fintechs, digital banks, and embedded finance providers, from consumer to corporate, across 44 countries. 

Thredd’s assured solution accelerates the development and delivery of consumer and corporate payments components embedded within digital banks, as well as for expense management, B2B payments, crypto, lending, credit, Buy Now Pay Later (“BNPL”), FX, remittance, and open banking innovators. Thredd has enabled market leaders since 2007 and has a highly reliable platform with 99.99% availability. Thredd’s highly customisable solutions on our API-first platform, surrounded by our in-depth industry expertise, value-added services, global presence, and technical resilience, are designed to scale with ease. Thredd is certified by Visa and Mastercard to process transactions globally. 

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IRIS Business Services Introduces “IRIS Myeinvois” SaaS Platform for Seamless e-Invoice Compliance in Malaysia

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NAVI MUMBAI, India, May 6, 2024 /PRNewswire/ — IRIS Business Services (BSE: 540735), a leading provider of innovative regulatory reporting software solutions, proudly announces the launch of ‘IRIS Myeinvois’, a cutting-edge Software as a Service (SaaS) platform designed to streamline e-Invoice compliance for taxpayers in Malaysia.

As per the mandate set forth by Malaysia’s tax regulator, Lembaga Hasil Dalam Negeri (LHDN), businesses are required to adopt electronic invoicing for tax compliance. In response to this regulatory requirement, IRIS Myeinvois offers a comprehensive solution that empowers businesses to achieve e-Invoice compliance effortlessly.

The hallmark feature of IRIS Myeinvois is its capability to seamlessly transform data from diverse source systems into the prescribed format for e-Invoice generation. This functionality not only simplifies the compliance process but also enhances efficiency by eliminating manual data entry errors.

Furthermore, IRIS Myeinvois provides users with flexible connectivity options, including API integration, file-based SFTP integration, manual file uploads, and direct manual entries via the intuitive portal interface. This versatility ensures that businesses of all sizes and technological capabilities can easily leverage the platform to meet their e-Invoice compliance obligations.

In addition to its core functionality, IRIS Myeinvois offers a range of value-added features to enhance user experience and maximize productivity. Customizable invoice templates enable businesses to tailor their invoices according to their branding and specific requirements. Real-time alerts ensure timely notifications for important events and deadlines, enabling proactive compliance management. Moreover, robust analytics capabilities provide valuable insights into invoicing trends and patterns, empowering businesses to make data-driven decisions.

“We are thrilled to introduce IRIS Myeinvois to the Malaysian market,” said Gautam Mahanti, Business Head at IRIS Business Services. “With its user-friendly interface, advanced features, and seamless integration capabilities, IRIS Myeinvois is poised to revolutionize e-Invoice compliance for businesses across Malaysia.”

About IRIS Business Services

IRIS Business Services  is at the forefront of solutions for regulatory reporting and compliance, trusted by over 30 regulators, 6000+ enterprises, in 52 countries.  

The tax technology division of IRIS, IRIS Tax Tech, aids businesses in fulfilling their GST compliance obligations and in processing e-invoices by serving over 1500 companies in India, generating over 3 mn e-Invoices every month.

Additionally, it is appointed by the Indian government as an Invoice Registration Portal (IRP) for companies to meet the e-invoicing mandate.

For more information visit – www.irisbusiness.com.   

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Halal Economy Leadership Forum 2024 Riyadh: IsDB, HPDC and HDC’s Collaboration to Spearhead Innovation for Global Halal Industry

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RIYADH, Saudi Arabia, May 6, 2024 /PRNewswire/ — The Halal Economy Leadership Forum 2024 (HELF 2024) held recently in Riyadh, Saudi Arabia, set the stage for a momentous gathering of industry leaders, policymakers, and experts to advance discussions on the Halal Economy—a vital cornerstone of global commerce. Hosted jointly by the Halal Development Corporation (HDC), the Halal Products Development Company (HPDC), and Islamic Development Bank (IsDB), the event featured the significance of fostering collaboration and driving innovation in the halal industry.

The forum was attended by His Excellency Datuk Wan Zaidi Wan Abdullah, the Ambassador of Malaysia to the Kingdom of Saudi Arabia, representing Malaysia’s Minister of Investment, Trade and Industry, The Hon. Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz. Also attended were President of IsDB, H.E. Dr. Muhammad Al Jasser, Mr. Fahad S. AlNuhait, Chief Executive Officer of HPDC and Chairman of HDC, Mr. Khairul Azwan Harun. This line-up showed the shared commitment of Malaysia and Saudi Arabia towards advancing the principles and values of the Halal Economy.

The Halal Economy, rooted in Islamic ethics and jurisprudence, spans across diverse industries such as food and beverage, pharmaceuticals, cosmetics, finance, and tourism, offering vast opportunities for economic growth and sustainable development. Malaysia, a global leader in the halal industry, has positioned itself as a hub for halal excellence through strategic initiatives and partnerships, facilitating trade and investment between the East and the West.

This strategic partnership aims to leverage the collective expertise and resources of the organizations involved to drive innovation, facilitate trade, and promote economic development within the halal industry across 57 Member Countries and Non-member Countries.

Quoting Tengku Datuk Seri Utama Zafrul’s speech read by H.E Datuk Wan Zaidi, he emphasized the importance of collaboration in advancing the halal economy, stating, “This tripartite collaboration signifies a significant step forward in our efforts to strengthen the halal ecosystem and promote inclusive economic growth among IsDB Member Countries and beyond.”

Part of the HELF 2024, a Business-to-Business (B2B) networking session hosted by the HPDC was held for the Malaysian delegates. Both the B2B and HELF 2024 managed to achieve its target to help the industry players gain insights and acquire knowledge on Halal, as well as sourcing or securing new strategic partnerships for businesses. Among the countries that show interest in getting HDC’s expertise are Nigeria, Pakistan, Mauritius, Morocco, Rwanda, and South Africa.

The outcome of this collaboration is to offer IsDB Member Countries and non-member countries the best solutions in the Halal Ecosystem Development & Enablement. This includes utilizing financial instruments available to address intra-trade deficits and capitalize on potential markets. The forum also outlines joint efforts to develop a high-quality halal products ecosystem and analyze successful halal ecosystem models and market solutions.

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China-France forum underscores people-to-people, cultural exchanges

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PARIS, May 5, 2024 /PRNewswire/ — A forum on the development of people-to-people and cultural exchanges between China and France was held here on Saturday, in a bid to boost cooperation and mutual learning.

 

President of Xinhua News Agency Fu Hua attends a forum on the development of people-to-people and cultural exchanges between China and France and delivers a speech, in Paris, France, May 4, 2024. (Meng Dingbo)

 

Chinese Ambassador to France Lu Shaye, speaks at a forum on the development of people-to-people and cultural exchanges between China and France, in Paris, France, May 4, 2024. (Lian Yi)

The participants agreed that strengthening cultural exchanges and cooperation between China and France will not only help broaden consensus and deepen mutual trust, but also promote the two great civilizations and other civilizations worldwide to achieve each other and to rejuvenate with fresh vitality in the new era.

This year marks the 60th anniversary of the establishment of diplomatic relations between China and France and is also the China-France Year of Culture and Tourism.

In his opening speech, President of Xinhua News Agency Fu Hua said the forum, held on the eve of Chinese President Xi Jinping’s state visit to France, is of great significance in boosting cooperation between media, think tanks and enterprises from the two countries and in facilitating cultural exchange and mutual learning.

Fu said that Xinhua has been dedicated to telling stories about the friendship between the two countries and promoting Chinese and French cultures.

“We are willing to work with Chinese and French media outlets, think tanks and other organizations to uphold the principle of equality, mutual learning, dialogue and inclusiveness among civilizations, and promote the common values of all humanity,” he said.

Xinhua is ready to jointly showcase the fruits of China-France cooperation, demonstrate the charms of the two countries’ traditional cultures and the unique highlights of their modern civilizations, and broaden the bridge of people-to-people exchange and cultural cooperation, Fu noted.

Xinhua also stands ready to seize such opportunities as the China-France Year of Culture and Tourism and the Paris Olympic Games to try to hold more cultural exchange activities to push bilateral relations to a new high.

China’s Ambassador to France Lu Shaye said people-to-people and cultural exchanges are an important foundation and inexhaustible driving force for China-France relations.

The two countries are set to launch dozens of cultural and tourism events this year that marks the 60th anniversary of diplomatic ties and the China-France Year of Culture and Tourism, and will see the Paris Olympic Games, bringing important opportunities for people-to-people and cultural exchanges, the ambassador said.

Lu also expressed his belief that under the strategic guidance of President Xi and President Macron, bilateral ties are bound to show vigor and vitality in the future, and the booming cultural exchanges and cooperation will also lay a more solid public opinion foundation for the sound and stable development of bilateral ties.

“Culture constitutes the strongest cement between our civilizations,” Eric Alauzet, president of the France-China Friendship Group of the French National Assembly, said at the forum.

The common history of the two countries after the establishment of diplomatic ties has nourished fruitful cultural and people-to-people exchanges, which has in turn driven cooperation and development in other areas, he said.

Bilateral cooperation has achieved many outcomes in economy and trade, and in their joint efforts against climate change, Alauzet added, noting that the two countries have held various cultural exchange activities this year, which will further push forward bilateral relations.

Saturday’s forum is co-sponsored by Xinhua News Agency, the Chinese Embassy in France, and Publicis Groupe, a French multinational advertising and public relations company.

Themed “Reinforcing People-to-people and Cultural Exchanges, Promoting the China-France Spirit,” the forum drew around 250 representatives from the Chinese and French governments, the United Nations and other international organizations, mainstream global media outlets, think tanks as well as cultural and business circles of the two countries.

Prior to the opening of the forum, Xinhua News Agency signed a memorandum of understanding with Publicis Groupe.

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