Payment service providers help enterprises to simplify international collections and payments by making it easier for their customers to get paid. For example, reducing fees, automating transactions, and optimizing international payments.
In this case, the payment service provider we assisted had their own technology in place. This enabled them to meet the majority of their enterprise client’s needs.
The trouble was, their existing system had three crucial limitations that were becoming a serious issue.
All of these features were in high demand, and the client was concerned that one of their competitors might capitalize on this. It was a weakness in the technology that they had to address.
The client went in search of a solution that would resolve any flaws in their offering and provide customers with added value. When they approached Nium, we addressed how our solution could help them overcome their limitations.
In this client’s case, we allowed them to overcome:
Nium provides several attractive benefits to payment service providers. In this case, the benefits were:
Unlocked Emerging Markets: Prior to Nium, the client was unable to expand into emerging markets like Malaysia as they lacked the necessary licenses and technology. Our solution helped them to quickly overcome the issue, thanks to our relationships with financial regulators. Now they’re able to service Malaysian customers without having to charge unreasonable fees or exchange rates.
Provided Faster e-Commerce Transactions: The client’s existing customer base included a range of e-Commerce enterprises. Before implementing our solution, they were unable to provide their clients with the rapid transaction they required. Today they’re able to better serve their e-commerce merchant customers by delivering faster payments and lower fees.
Reduced Transaction Fees: Many of the client’s customers were forced to pay extra transaction and exchange fees. Especially those who are located internationally. Now, they’re able to provide industry-leading rates. This alone is an attractive offer to new customers.
Delivered A Low-Cost White-Label Solution: By white labelling our technology, the client was able to quickly and affordably overcome the limitations of their own technology. If they had built a custom-made solution, the process would have consumed a massive amount of time and resources.