Al Fardan Exchange Partners With Nium To Offer Enhanced Pay-Out Services In Key Global Markets

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2 years ago

Partnership enables Al Fardan Exchange to access Nium’s global payout network and infrastructure via API and offer customers ability to send money globally in 18 local currencies

Dubai, UAE 07 November 2021– UAE’s pioneering international money transfer and foreign exchange company Al Fardan Exchange and global payments and card issuance leader, Nium, today announced a partnership that will enhance pay-out services for Al Fardan Exchange customers in key markets and regions, such as APAC, Canada, Europe, the UK, the US and Latin America.

Nium’s pay-out capability will enable Al Fardan Exchange to provide Consumer-to-Consumer (C2C), Business-to-Consumer (B2C), and Business to Business (B2B) payments in 18 different currencies worldwide. SEPA payments to both EU and non-EU countries will be facilitated in real-time and on a standard settlement basis. Al Fardan Exchange customers will be able to make payments to Eurozone participant banks, supporting real-time bank transfers round the clock (24/7).

Al Fardan Exchange provides worldwide remittance and foreign exchange services driven by a continuous commitment to invest in innovative technology, branch network expansion and superior service delivery. Services offered include money transfers, foreign exchange, payroll services and prepaid cards, tending to the UAE’s cosmopolitan community through 70+ strong branches, spanning across all Emirates.

“Al Fardan Exchange is a customer centric brand, and we are constantly innovating to better deliver more hassle-free solutions for financial transactions catering to the millions of people who rely on us to remit money to their families’ globally. Choice, flexibility, and a user-friendly experience are the main drivers for us to continually ensure we are maintaining the highest standards of service excellence. We are very excited to be partnering with Nium, who we believe will a be long term strategic partner,” said Hasan Fardan Al Fardan, Chief Executive Officer of Al Fardan Exchange.

“We are really proud to announce our partnership with Al Fardan Exchange, helping them service their customers in worldwide remittance and foreign exchange services. By leveraging our global network and pay-out capabilities they are able to extend their outreach and smooth payment experience to new and existing markets. The greatest thing about working with our partners is that as they grow, we grow. Working alongside a reputable company, such as Al Fardan Exchange is a noteworthy honour and will contribute to our company’s growth and presence in the region,” said Frederick Crosby, Chief Revenue Officer at Nium.

Nium x Al Fardan Exchange Charity Match

To honour this partnership, Nium and Al Fardan Exchange will also be co-hosting a friendly cricket charity match during the Men’s T20 World Cup in the UAE. Participating parties include members of the UAE National Cricket Team, Nium and Al Fardan Exchange invited guests and partners. The location of the match will be at the Sheikh Zayed Cricket Stadium in Abu Dhabi on Friday, 12 November 2021.

In addition to the participation in the match, there will be a joint donation made by Nium and Al Fardan Exchange to Dubai Cares, looking to raise more than 100,000 AED to support the local community. Dubai Cares aims to ensure inclusive and quality education for all and promote lifelong learning by 2030, by supporting programs in early childhood development, access to quality primary and secondary education, technical and vocational education, and training for youth, as well as a particular focus on education in emergencies and protracted crises.

The event is part of a series of activities following Nium and the ICC’s sponsorship agreement announcement.

About Nium

Nium is a leading embedded fintech company that provides banks, payment providers, and businesses of any size with access to global payment and card issuance services via one API. Its modular platform enables pay-outs, pay-ins, card issuance, and banking-as-a-service.

Once connected to the Nium platform, businesses can pay out in more than 100 currencies to over 190 countries – 85 of which in real time. Funds can be received locally in 33 markets, including Southeast Asia, the UK, Hong Kong, Singapore, Australia, India, and the US.

Nium’s growing card issuance business is already available in 32 countries, including Europe (SEPA), Hong Kong, the UK, Australia, and Singapore. Core to Nium is its licence infrastructure, built over time in some of the fastest growing economies. Nium owns the broadest licence portfolio, covering 11 of the world’s jurisdictions, enabling seamless global payments and rapid integration, across multiple geographies.

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About Al Fardan Exchange

Al Fardan Exchange is a member of the Al Fardan Group, one of the leading family-owned conglomerates in the region with a 50-year legacy. It is one of the many different businesses across several sectors under the umbrella of Al Fardan Group, ranging from real estate, to high- end jewellery to trading. The success of the group is largely built upon the business acumen and strong personal values espoused by its founder, Ibrahim Al Fardan, who established himself as a respected pearl trader back in 1954.  Established in 1971, we are proud to serve the UAE’s cosmopolitan community through our 70+ strong network, spanning across all Emirates. Reinforced by strong relationships with over 150 global corresponding banks, financial institutions, and other financial service providers, we offer secure transactions that firmly place reliability and trust in the forefront. Al Fardan Exchange is licensed and regulated by the Central Bank of the UAE.

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