简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:International platform for modern money movement, Nium confirmed today that the company has signed a definitive agreement to acquire Socash. The acquisition will facilitate Nium with all the resources to enable multiple forms of local payment acceptance for digital commerce.
Socash is an alternative payments network platform based in Singapore.
The acquisition is expected to be completed in Q3 2022.
Take Advantage of the Biggest Financial Event in London.
The acquisition, which is expected to be completed in the third quarter of 2022, is subject to customary regulatory closing conditions. The acquisition will combine the local payments acceptance technology of Socash and Niums global platform to make digital commerce convenient in emerging markets.
Despite the rising interest in digital payment methods, Cash is still the most preferred payment method across several emerging markets in Latin America and Asia. The acquisition allows Nium to accept cash for transactions online.
“The Socash team has built an impressive platform that bridges payments in the digital space with payouts in the physical world,” said Pratik Gandhi, Co-founder and COO of Nium. “When compared to current in-app payment costs, we estimate Socash saves up to 30 percent in commissions paid. With this acquisition, Nium can offer a lower-cost payment processing alternative for digital merchants, spanning local payment acceptance through to global payouts.”
Local Payments
While developed economies are mostly using digital payment methods for daily transactions, including commerce, emerging markets are still using cash at scale. Nium noted that it is important for companies to introduce solutions that facilitate local payments in specific regions.
“Cash is a preferred method of payment in the Asia Pacific and Latin American markets, and the acquisition of Socash allows Nium to accept cash for transactions online – bridging the physical and digital worlds. Together, Nium and Socash become the full-stack, platform-of-choice for global merchants with capabilities for local acceptance, multicurrency accounts, foreign exchange, and global payouts,” Nium highlighted.
According to World Bank, more than 1.7 billion unbanked people across the world are still using cash for payments.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
In this article, we will conduct a comprehensive examination of GFS, delving into its key features, fees, safety measures, deposit and withdrawal options, trading platform, and customer service. WikiFX endeavours to provide you with the essential information required to make an informed decision about utilizing this platform.
The Malaysian ringgit continued its upward trajectory against the US dollar at the market's opening today, breaking past the RM4.14 level for the first time since November 2021.
NBI rescues 84 Filipinos in Pampanga, Philippines, from a scam hub posing as a BPO allegedly involved in FXTM USDT Forex Trading. Authorities target cybercrime violations in the Philippines.
CFTC charges four unregistered binary options firms, alleging false claims of regulation in the U.S. The enforcement action targets platforms dealing in crypto and derivatives.