Ripple Partner and Early XRP Adopter Nium Working With Visa to Power Cross-Border Payments
Cross-border payments startup and RippleNet member Nium says it’s partnering with Visa.
The company will give its users in Southeast Asia the ability to make real-time transfers to Visa debit card holders, according to a press release.
Payments from Nium will be routed through Visa Direct, a push payment solution that lets Visa debit card owners send and receive instant remittances using their Visa debit card number.
Visa says any funds sent through Visa Direct are approved in 30 minutes or less.
Nium, formerly known as InstaReM, joined RippleNet in February of 2018 and is using the company’s XRP-powered cross-border payments platform, On-Demand Liquidity (ODL).
The company was one of the first to use ODL to settle transactions from the US dollar to the Mexican peso.
According to TechCrunch, Nium raised $41 million back in March from several investment firms, including Ripple.