Nium: Acquires Socash
- Nium, the global platform for modern money movement announced a definitive agreement to acquire Socash
- Socash brings together financial institutions and digital commerce merchants into a thriving network
- The acquisition provides the team and technology to enable multiple forms of local payment acceptance for digital commerce
- The acquisition of Socash allows accepting cash for transactions online bridging the physical and digital worlds
- The acquisition is expected to close in Q3 2022, subject to customary regulatory closing conditions
- According to the World Bank, 45 percent of global consumers already use a mobile wallet
