BankingBusiness

Nium: Agrees to buy Wirecard Forex India

Nium: Agrees to buy Wirecard Forex India

  • Nium is a next-generation financial services platform  that enables companies around the world to unlock new revenue opportunities
  • Announced it has signed a definitive agreement to acquire Wirecard Forex India Pte. Ltd
  • Wirecard Forex is licenced by the Reserve Bank of India as an Authorized Category II Money Exchange Dealer (AD II)
  • With this licence can directly engage in a variety of payment services activities across the subcontinent
  • It issues approximately 30 million physical and virtual cards today and is licenced in 11 jurisdictions
  • Acquires Wirecard Forex at a time when India’s prepaid card market is expected to boom at CAGR of 40.5% between 2021 – 2026[1]
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Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

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