Al Mulla Exchange teams up with Nium to improve global payment options

4 Minute read
2 years ago

The partnership will enhance Al Mulla Exchange payment experience globally for both corporate and individual customers

Dubai, 18 January 2022 – Global payments and cards issuance leader Nium announced today a strategic partnership agreement with Al Mulla Exchange, a member of Al Mulla Group and Kuwait’s leading remittance and exchange company, to enhance the operation of transfers for Al Mulla Exchange clients to key markets and regions globally.

Al Mulla Exchange retail and corporate customers will benefit from enhanced remittance and payments services to nations across the world in the respective local currency at very competitive FX rates as a result of this partnership. Customers will be able to access these services through the company’s network of over 100 branches and KIOSKs located at selected locations in Kuwait, as well as via the online website and mobile application. Al Mulla Exchange App was named one of the “Top Fintech Apps in the Middle East” by Forbes Middle East and was ranked the number 1 remittance application in Kuwait and the 3rd in the MENA region in 2020.

“We are happy to announce our partnership with Al Mulla Exchange today. With a network of 104 branches in Kuwait and an exceptional customer-centric approach, the company is committed to providing its customers the best services globally. Al Mulla Exchange customers will be able to access beneficiaries in countries all over the world and make payments in local currencies thanks to our global network of licences and banking relationships”, says Rohit Bammi, Global Head of Institutional Sales at Nium.

Nium will enable Al Mulla Exchange to provide their customers with:

  • Seamless B2B, B2P, P2P and P2B cross-border payments in all major currencies 
  • Access to multiple real-time payment corridors
  • Instant, speedy settlements to customers
  • Competitive FX rates

Commenting on this strategic tie-up, Mr. Abdulla Najeeb Almulla, Chairman of Al Mulla Exchange Company said: “Al Mulla International Exchange Company has always focused on delivering consistent and seamless remittance experiences to its customers, through the use of cutting-edge technology in partnership with correspondent banks and service providers. NIUM is a new age digital platform for international remittances, and Al Mulla Exchange is confident of using this tie up for improving further on international funds transfers to specific countries and corridors at competitive prices, thereby delivering customer delight.”


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 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), 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 Mulla Exchange:

Al Mulla Exchange, the leading Remittance and Money Exchange company, which is regulated by the Central Bank of Kuwait, and a member of Al Mulla Group – a privately held leading business in the State of Kuwait – is led by strong values of integrity, transparency and trust. Since its establishment in 2001, the company has grown its network to 104 Branches across Kuwait and enjoys the trust and loyalty of more than 1 million active customers. Throughout its history, the company has continuously invested in people, processes, systems, technologies and compliance to build an agile, robust, and responsible business with customer centric vision.

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