OwlPay partners with Nium to launch a global B2B cross-border payment service
OwlPay provides a one-stop financial services integration service for global B2B transactions. The new service covers automatic reconciliation, online currency exchanges and cross-border payment services, to streamline traditional payment processes and significantly improve business operational efficiency. Using developer-friendly APIs, OwlPay connects to internal business management systems and provides one-stop service for order and vendor administration, financial reconciliation, online auditing and automation of payment processes. Additionally, Nium’s competitive exchange rate, extensive settlement network, and support for over 100 currencies with online currency exchange add a unique advantage for businesses to make real-time international transfers on the interface. website.
“We are optimistic about the benefits OwlPay will bring to global businesses, cross-border e-commerce platforms, as well as online travel agencies (OTAs) offering various products and services. OwlPay’s partnership with Nium offers a new B2B payment experience. OwlPay not only enables companies to integrate cash and information flows, but helps them achieve operational excellence without the need to build an internal payment infrastructure that costs time and money. extra effort. It is estimated that OwlPay can save up to 50% of labor costs for the finance team“, Explain Una Peng, Senior Director of OwlPay. “Currently, the average cross-border money transfer fee is between 25 and $30 per transaction, while OwlPay charges less than $10 with payment the same day. Recipients can receive full payments even for a small amount, making OwlPay a faster and cheaper payment solution suitable for global business needs. Additionally, OwlPay supports six currencies for deposit, and funds can be directly exchanged to local currency for payouts. By depositing funds in designated accounts in Singapore or hong kong in advance, businesses can leverage OwlPay’s global network and pay global suppliers with just a few clicks. Singapore– and hong kongOwlPay-based businesses can even benefit from further cost reduction with national deposits and instantly take advantage of OwlPay’s powerful services.”
OwlTing will first target South East Asia, where the digital economy is growing rapidly. As reported in the Southeast Asia Digital Economy Trends Report published by Google, Temasek Holdings and Bain & Company, the Internet penetration rate in South East Asia in 2021 was 75%. Internet Economy Gross Merchandise Volume (GMV) reached $174 billionand it should reach $363 billion in 2025.
Darren WangFounder and CEO of OwlTing Group, shares, “As a blockchain leader, we are actively seeking global partners to make B2B payments faster and cheaper. We are very happy to cooperate with Nium to move from national financial services to multi-currency services, cross-border payment services. OwlPay’s services will change from Asia to the north and South Americaand Europe. With OwlPay, we aim to help global businesses improve their operations and capital efficiency with a new type of payment and easily send funds in real time to other countries. We plan to introduce stablecoins and various settlement networks to explore the endless possibilities of financial innovation and digital payment development.”
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About Blockchain Payment Service OwlTing – OwlPay
OwlPay provides a one-stop integration payment service for global businesses. Through developer-friendly APIs, OwlPay integrates functions such as reconciliation, mass transfers, automatic payments to innovate B2B cross-border transactions for real-time settlement and clearance. OwlPay charges less than $10 per transaction with same-day settlement, making OwlPay a faster and cheaper payment solution suited to the needs of global businesses. OwlPay aims to create a new FinTech experience to help businesses improve operational efficiency and reduce labor costs.
About OwlTing Group
Founded in 2010, OwlTing Group covers B2B, B2B2C and B2C services. Like a Taiwan-based company, OwlTing has branches in the United States, Japan, Thailand, Malaysia, hong kongand Singapore, and seeks to expand globally. In 2018, OwlTing announced an eight-figure USD investment from Japanese financial giant SBI Group. Over the past few years, OwlTing has formed partnerships with government, industry, and academia and applied blockchain technology to the medical industry, automotive industry, defense industry, food industry, forestry, agriculture, etc. OwlTing aims to create blockchain services for various industries. .
Nium is the global platform for modern money movement. It offers banks, payment providers and businesses of all sizes access to global payment and card issuance solutions. Its modular platform powers frictionless commerce, helping businesses pay and get paid around the world. Once connected to the Nium platform, companies can make payments in more than 100 currencies to more than 190 countries, including 85 in real time. Funds can be received in 27 markets, including South East AsiaUK, hong kong, Singapore, Australia, India, and the United States. Nium’s growing card issuance business is already available in 34 countries, including Europe (SEPA), the United Kingdom, Australia and Singapore. Nium’s licensing portfolio spans 11 of the world’s jurisdictions, enabling seamless global payments and rapid onboarding regardless of geography. Nium was named among the “Financial Times APAC High-Growth Companies” and “Best B2B Payment Platform at Future Digital Awards” in 2021.
SOURCE OwlTing Group