Wirecard’s Forex Unit In India To Be Acquired By Nium, A Global Payments Platform
- ByStartupStory | July 7, 2021
Singapore-based global payments platform, Nium on Wednesday made an announcement signing a definitive agreement to acquire Wirecard Forex India Pte Ltd – a foreign currency exchange, prepaid card, and remittance service provider in India. Nium holds the broadest licensing portfolio of any independent payments fintech. It issues approximately 30 million physical and virtual cards today and is licensed in 11 jurisdictions, including direct card issuing capabilities in 24 countries and in 40 currencies.
Prajit Nanu, Nium’s Co-founder and CEO said, “We’re seeing an accelerated move to digital payments as companies modernise their infrastructure to capitalise on the post-COVID economic recovery,” further adding, “More companies are turning to our global payments stack to embed financial services quickly. This acquisition broadens our licensing portfolio, extends the suite of digital payments services we can offer in India, and provides us with a physical footprint to provide more support in metro areas.”
Nium holds the broadest licensing portfolio of any independent payments fintech. It issues approximately 30 million physical and virtual cards today and is licensed in 11 jurisdictions, including direct card issuing capabilities in 24 countries and in 40 currencies.
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