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]
