Turkey-based digital payment platform Paycell has formed a strategic partnership with fintech Nium to enable account-to-account (A2A) international money transfers. By leveraging Nium’s business payments infrastructure, the financial services platform implemented the A2A international money transfer process to enable users to carry out this type of transfers in a fast, reliable, and affordable manner.

Details on the partnership and Nium, Paycell product offering Due to the global money movement platform’s A2A money transfer infrastructure, Paycell users are given the option of performing international money transfer transactions without having to pay commission fees and in a more reduced time, as opposed to their alternatives. Furthermore, being provided with 24/7 transaction access, buyers are given instant access to funds that were sent to them. Paycell representatives stated in the press release that users are looking for innovative solutions when talking about money transfer transactions.

Concomitant with the expedited change in purchasing and payment methods, users are on a lookout for innovative, easy, and low-cost solutions in money transfer. As Paycell aims to increase their cooperation to meet this need and become one of Turkey’s most inclusive financial services’ platforms, by partnering with Nium to provide their fast and secure payment solutions, the company hopes to simplify international money transfer transactions. Nium officials added that the collaboration with Paycell showcases how their solutions can be embedded and customised so that they can add value to enterprises, their fast, cost-effective money movement alternative to traditional rails believed to help large enterprises with increasing their revenues.

Paycell is an inclusive payment platform that can be used by anyone, regardless of operator, bringing value to customers and stakeholders as it works on its mission of creating a cashless society. The company has seven million active users as of Q3 2022, with the trading volume in the first three quarters of the same year having increased threefold since 2021. Nium is a global platform for ‘Modern Money Movement’ that offers banks, payment providers and businesses of all sizes access to solutions related to global payments and card issuance.

Its modular platform enables frictionless commerce, helping businesses with paying and getting paid across the world. After being connected to its platform, businesses can carry out payments in over 100 currencies to more than 190 countries, out of which 100 are in real-time. Funds receival is enabled in 35 markets including Southeast Asia, the UK, Hong Kong, Singapore, Australia, India, and the US, whereas its card issuance business is available in 34 countries, including Europe (SEPA), the UK, Australia, and Singapore.

Holding regulatory licenses and authorisations in more than 40 countries, Nium enables global payments and rapid integration regardless of geography. .