US-based payment provider Nium has announced the expansion of its operations in Latin America, with the firm currently applying for licences, and joining fintech associations, among others. In a bid to advance its commitment to improve the global payment landscape in Latin America, Nium solidified its presence in the region by expanding its employee presence and signing additional customers.

Before the current news, the company applied for a Payment Institution Licence in Brazil, set to allow it to offer payment services to clients, including managing funds locally in BRL and real-time payments via Pix. Also, Nium is now looking for FX authorisation in the region, aiming to improve its foreign exchange transaction features. Through these licences, the company focuses on optimising clients’ trust in its risk and compliance processes, while ensuring secure and convenient transactions.

Nium’s plans in Latin America Considering Latin America’s position in cross-border operations, Nium has been strategically investing in the region, obtaining clients and expanding its capabilities. Through this ongoing expansion, the company is set to work towards further advancing the region’s dynamic economic landscape. With a presence in Latin America since 2017, Nium recently gained several customers, including Ouribank, Treviso, OZ Cambio, and Frente.

In addition, the company partnered with Banco BS2 in June 2024, supporting the latter in minimising FX costs and enabling real-time payouts between Brazil and key trading corridors. Moreover, Nium joined ABRACAM, an association representing institutions authorised by the Central Bank of Brazil, to conduct foreign exchange operations. The firm strategically chose this membership to advance its commitment to be part of and contribute to the Brazilian financial and cross-border market. Also, the membership equips Nium with several capabilities, including regulatory advocacy, knowledge sharing, and improved market credibility.

At the time of the announcement, the company had access to industry insights, resources, and partnership opportunities with stakeholders, while also benefiting from the ability to influence policies and foster a supportive ecosystem for banking in the region. According to Nium’s officials, the company is scaling local payout rails across Latin America to optimise how it serves its target verticals, including banks, financial institutions, and platforms. Following the receipt of its licences, the company plans to work on providing its travel offering and card issuance to the region. Nium is set to expand its physical presence in Latin America, employing strategic roles in business development and collaborations.

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