Oman Modern Exchange partners with Nium fintech tokenization payments platform

Global payments, tokenization, and cards issuance leader Nium and Oman’s leading remittance and money exchange company, Modern Exchange Co. have partnered. Oman based Modern Exchange Co. will leverage Nium’s global payments infrastructure in key markets and regions such as APAC, Canada, Europe, Latin America, the UK and the US.

As the country moves rapidly towards a more digitised, seamless, and transparent system of processing both national and international payments, companies like Modern Exchange Co are embracing the adoption of digital payments and looking for trustworthy partners like Nium to help with their global growth strategy.

Through this partnership with Nium, Modern Exchange Co. will be able to connect to correspondent banks worldwide, wherein customers can make payments to beneficiaries’ accounts in real-time. Customers can access the Modern Exchange Co. mobile app and payment link for remittances to any country around the globe from anywhere, at very competitive charges and FX rates.

“We are honoured to partner with Modern Exchange Co., Oman’s leading remittance provider and a company that is at the forefront of technology and innovation. With 36 branches spreading over the entire Sultanate of Oman, the company is set to grow its footprint globally and develop its digital payments offering internationally and we are excited to be their partner on this journey. Our global platform will enable Modern Exchange Co customers to reach beneficiaries in countries across the globe and make payments in local currencies in a simple, timely and cost-saving manner,” said Frederick Crosby, Chief Revenue Officer at Nium.

Nium’s pay-out capability will enable Modern Exchange Co. to provide:

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

“Our mission at Modern Exchange Co is to surpass customer expectations and create a seamless and positive experience for our clients. We provide the best services for our customers, as we continuously look for innovative solutions and partners, to help us achieve that. Accessing Nium’s global payments infrastructure, will enable us to provide the fast and efficient pay-out services to our customers, looking to remit funds in the biggest markets globally. The partnership with NIUM will redefine standards in the remittance business, especially for payments to Canada, USA, Australia, the UK and Europe; making it more cost-efficient in comparison to other financial institutions,” said Philip Koshy, General Manager at Modern Exchange Co.