Nium Adds Crypto Payment Acceptance to Suite of Embedded Crypto Services for Global Businesses
06 Apr, 2022, 14:46 BST
Nium Crypto Accept allows businesses to accept online payments in crypto, convert crypto to fiat, and settle payments in preferred local currencies
MIAMI, Fla., April 6, 2022 /PRNewswire/ -- Today at BITCOIN 2022, Nium, the global platform for modern money movement, unveiled Crypto Accept, an API-based solution that enables global businesses to accept crypto payments. Nium Crypto Accept supports Bitcoin (BTC) and Ethereum (ETH) payments at launch, with plans for more currencies in 2023. Online merchants can accept payments in crypto with zero price volatility or risk. Settlement happens next business day in USD or another leading fiat currency - directly to their bank account.
Nium Crypto Accept enables merchants to broaden their customer base and enhance their online payment experiences, while staying protected from the price volatility of cryptocurrency markets. Merchants will begin rolling out Nium-powered solutions later this year.
"Consumers hold more than $3 trillion in cryptocurrency and are looking for more places to spend this money online," said Joaquin Ayuso de Paul, Senior Vice President and Head of Nium Crypto. "Crypto Accept allows merchants to quickly and securely enhance their digital commerce experiences to serve consumers demanding more payment options."
Nium has partnered with BitPay, the world's largest provider of Bitcoin and cryptocurrency payment services, to enable this safe and easy way to embed crypto payments online for thousands of merchants. At checkout consumers will select their preferred crypto wallet and scan a Quick Response (QR) code to complete their transaction. The service verifies availability of crypto funds and settles the transaction promptly in the merchant's bank account in their preferred local currency.
"BitPay's partnership with Nium connects our network to the Nium rails to enable a fast, safe, and easy way for merchants to embed crypto payments into their online business," said Stephen Pair, co-founder and CEO of BitPay. "Together, we're making it possible for customers to live life on crypto with more options to spend their crypto with the businesses they know and trust."
The launch of Nium Crypto Accept at Bitcoin 2022 follows Nium's announcement of a comprehensive suite of Crypto services accessed via API. The company's first service, Crypto Invest, allows financial institutions to offer their customers the ability to buy, sell, and hold the most popular digital currencies from their financial apps. For more information on Nium Crypto Services, visit https://www.nium.com/platform/crypto.
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To learn more, visit Nium at Booth 923 at Bitcoin 2022 where experts will be on hand to answer all your questions on crypto, global payments and more.
Founded in 2011, BitPay pioneered blockchain payment processing with the mission of transforming how businesses and people send, receive, and store money. Its business solutions eliminate transaction fraud, reduce the cost of payment processing, and enable borderless payments in cryptocurrency, among other services. BitPay offers consumers a complete digital asset management solution that includes the BitPay Wallet and BitPay Prepaid Card, enabling them to turn digital assets into dollars for spending at tens of thousands of businesses. The company has offices in North America, Europe, and South America and has raised more than $70 million in funding from leading investment firms including Founders Fund, Index Ventures, Virgin Group, and Aquiline Technology Growth. For more information visit bitpay.com.
The BitPay Card is issued by Metropolitan Commercial Bank (Member FDIC) pursuant to a license from Mastercard International Incorporated. "Metropolitan Commercial Bank" and "Metropolitan" are registered trademarks of Metropolitan Commercial Bank ©2014. Use of the Card is subject to the terms and conditions of the applicable Cardholder Agreement and fee schedule, if any.
Nium is the global platform for modern money movement. It provides banks, payment providers, and businesses of any size with access to global payment and card issuance solutions. Its modular platform powers frictionless commerce, helping businesses pay and get paid across the globe. Once connected to the Nium platform, businesses are able to pay out in more than 100 currencies to over 190 countries – 85 of which in real time. Funds can be received in 27 markets, including Southeast Asia, UK, Hong Kong, Singapore, Australia, India, and the US. Nium's growing card issuance business is already available in 34 countries, including Europe (SEPA), the UK, Australia and Singapore. Nium's license portfolio covers 11 of the world's jurisdictions, enabling seamless global payments and rapid integration, regardless of geography.
For more information, visit: https://www.nium.com
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