Since 2014, Nium has been an active participant in Australia's payments landscape. We hold both an Australian Financial Services Licence (AFSL No. 464627) and AUSTRAC registration.
As we progress towards securing APRA authorization as a Purchased Payment Facility (PPF) provider and connecting directly to Australia's New Payments Platform (NPP), we’re expanding our expertise at the board level and appointing Stephen Benton as Chair of the board and Mark Baxter as a Non-Executive Director.
Here's what we're building toward, and how direct participation will transform what we can offer not only Australian financial institutions and enterprises, but global companies doing business in the region.
From an intermediary to infrastructure
Today, Nium operates in Australia through reliance on banking intermediaries. Essentially, that means we move money through our banking partners. The structure works. It’s proven. But it's also dependent.
Direct NPP participation will change that equation.
Subject to receiving the relevant regulatory and scheme approvals, Nium would be able to connect to the NPP as a Direct Participant. No intermediary standing between us and the rails. Instead, independent capital, independent risk management, and independent access to the infrastructure that moves money across the country. By connecting directly to the NPP, Nium will be able to clear and settle payments itself.
For Nium, it's the difference between being a service layer and being a true infrastructure player. For financial institutions, it will provide them with access to a partner with the infrastructure connection to provide a reliable service rather than one dependent on third party banking relationships.
The expertise this moment demands
These appointments to our Australia board bring together the ecosystem expertise and regulatory credibility this move demands.
Nium Australia
Stephen Benton
Benton brings intimate knowledge of the ecosystem Nium wants to connect to.
After spending three decades in payments and consumer finance, with stints at Westpac, Bankwest, and Citibank, Benton was CEO and Managing Director of eftpos from 2018 to 2022. During his tenure, he led the company through its landmark consolidation into Australian Payments Plus (AP+), the entity that now operates the NPP.
"I'm excited to join Nium at such a critical moment," Benton says. "Nium is a fast-growing business delivering unique value on a global scale, and I'm looking forward to helping it reach the major milestone of achieving APRA authorization as a PPF provider while driving continued growth and innovation in the Australian market."
Nium Australia
Mark Baxter
Baxter understands how APRA thinks, having spent early career time inside the regulator.
He brings career-long specialization in enterprise risk and prudential regulation, with Chief Risk Officer roles at QBE Insurance (Australia & New Zealand) and Prudential (UK & Europe), and global financial risk leadership at Old Mutual Group. This depth of expertise has equipped him with the operational rigor and governance frameworks that APRA expects of regulated payment providers.
"I'm joining Nium's Board because its mission to enable real-time commerce, backed by strong risk and governance, aligns with my commitment to financial systems that are inclusive, accessible, and built to serve people," Baxter says. "It's a globally minded fintech using innovative infrastructure to transform how money moves across borders."
What happens next
Nium will continue its application with APRA for PPF authorization and then direct participation in the NPP.
For Australian financial institutions and enterprises, this shift signals something larger: Australia's payments modernization is attracting serious, globally capable payment players willing to invest in local payments infrastructure. This is not just about technological integration, it’s also an investment in the governance and risk frameworks that protect the entire system.
Direct infrastructure, everywhere
This isn't Nium's first move of this kind. Direct connectivity to the payment scheme is how we prefer to operate.
We connect directly to payment schemes in numerous regulated markets, a pattern that reflects a core principle: Nium operates as true infrastructure, not a service layer dependent on third-party relationships.
In Australia, that ambition is now taking concrete form.
"These appointments strengthen Nium’s Australian board as we move toward APRA authorization," says Spencer Hanlon, Nium COO. "Stephen and Mark bring direct experience of the AP+/NPP ecosystem and APRA-regulated risk governance. This is a deliberate step toward Nium operating as a directly regulated payments infrastructure provider in Australia, supporting our mission to connect money movement across any network, any format, any geography."
Ready to move money globally with certainty? Discover how Nium enables Australian financial institutions to expand without complexity.
