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Ripple-Powered Nium Partners with Visa to Enable Instant Payments to Indonesia

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  • Yuri Molchan
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    Another RippleNet member boosts its global presence – Nium enables remittances to Indonesia via Visa Direct after it has received a license from Bank of Indonesia

Ripple-Powered Nium Partners with Visa to Enable Instant Payments to Indonesia
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After MoneyGram has benefited from partnering with Ripple and using its On-Demand Liquidity product (formerly xRapid) along with XRP, another RippleNet member is now boosting its territory of coverage.

Nium (rebranded InstaRem) has partnered with the Visa payments giant to use its Visa Direct system for sending cash to Indonesia. The news was reported by Finextra.

Nium partners with Visa, following the suit of MoneyGram

Earlier, U.Today reported that MoneyGram had joined forces with Visa to create the system for the Visa Direct payments solution. They also launched a new P2P debit card deposit service, which is so far only used in the US.

Now, Nium, which first launched its services in Singapore, has joined Visa Direct. Prior to that, it received a license from the Bank of Indonesia to wire payments there. The latter made Nium the first fintech remittance service in South East Asia that wires money directly onto users’ bank accounts via Visa.

Nium’s CEO, Prajit Nanu, said:

“At Nium, we understand that individuals’ and businesses’ need to receive money quickly, especially in markets where there are no instant payment solutions like FAST or IMPS. The partnership using Visa’s push payment solution and secure network will allow our consumers to transfer money in a faster, convenient and more secure way.”

As per Visa’s chief in Singapore, Kunal Chatterjee:

“Nium is the first Fintech partner from Visa’s Fintech Fast Track programme to deliver real-time remittance using our push payment solution Visa Direct.”

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MoneyGram: Ripple’s expanding too slowly

In a recent interview, Ripple CEO Brad Garlinghouse referred to a phone call from MoneyGram’s CEO Alex Holmes who said that Ripple’s On-Demand Liquidity was expanding too slowly and suggesting that more corridors for ODL should be added.

At the moment, MoneyGram is wiring funds to Mexico via the Bitso crypto exchange using XRP. Holmes admitted that using ODL works like magic and that ten percent of the cash flow to the country is being conducted through XRP.

 

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls

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  • Alex Dovbnya
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    The Bitcoin price could soon touch $7,800 if bulls persist, but this move could be a short-lived one

Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls
Cover image via u.today

Popular crypto trader Wendy O recently predicted that the price of Bitcoin would "rocket up" if it managed to surge above the $7,400 level. 

Bitcoin Price
image by @CryptoWendyO

Shortly after that, the BTC price did rise above the aforementioned level, currently sitting at $7,444, according to CoinStats data

Bitcoin Price
image by coinstats.app

If the aforementioned forecast turns out to be accurate, Bitcoin traders could soon see another fakeout, which would be similar to the one that took place on Dec. 4. As reported by U.Today, BTC printed a massive green candle in less than a minute, but this unexpected pump quickly evaporated.     

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Earlier today, multiple traders predicted that Bitcoin was about to make a big move in either direction, but $7,800 seems to be the main area of interest for them. The leading cryptocurrency hasn't touch this level since Nov. 30. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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