Technology

Nium Expands Cross-Border Payments Platform to Serve Global Marketplaces

Published

5 months ago

June 4, 2024

The global fintech has announced new product features and a partnership with Lemonway to help marketplaces accelerate growth beyond borders

SAN FRANCISCO, June 4, 2024 /PRNewswire/ — Nium, the global leader in real-time cross-border payments, today announced the expansion of its platform to serve the multi-trillion-dollar global marketplace opportunity. The new product functionalities are available on Nium’s existing global payments platform, enabling marketplaces to incorporate a suite of features that streamline payouts to their cross-border sellers operating in multiple countries around the world, including:

Flexible multi-currency payouts – Pay international sellers in over 220+ markets, 100+ currencies, and 100+ real-time corridors to bank accounts, cards, and walletsFast and simple onboarding – Instantly verify payout accounts and leverage automated ID verification Know Your Customer and Business capabilities for fast and efficient seller onboardingTaxpayer information reporting – Collect taxpayer information to fulfill tax calculations and reporting obligationsEnd-to-end white labelling – Build tailored payout journeys in a fully white-labeled environment, gaining full control over the seller ecosystem to remain competitive and improve seller retentionCollect, convert, and disburse – Collect settlement funds locally in 25+ markets in a multi-currency wallet and split the funds across wallets such as fee commission and seller walletsSimple FX management – Lock and hold foreign exchange (FX) rates for longer to better manage currency risks and control transaction costsGlobal licensing – Access Nium’s growing network of licenses in over 15+ jurisdictions worldwide for comprehensive global coverage and regulatory compliance

For marketplaces with cross-border sellers, navigating the local complexities of different compliance regimes, payment preferences, and FX fees at scale has historically made seller payouts challenging. Different regions also bring their own unique economic context, which may dictate seller payment schedules, methods, cost and speed. Time and money spent adapting to these local dynamics is effectively time to market for new regions, slowing down global growth.

“With 33% of the $8.8 trillion global ecommerce market predicted to be cross-border by 2028, real-time cross-border payouts have the potential to drive marketplace seller acquisition and international revenue opportunities. For too long, marketplaces have had to retrofit their unique payment needs into existing solutions with limited payout functionality and reach, stunting growth and seller relationships. We’re extending our platform to address this problem, meeting the needs of global marketplaces so they can build more flexible, dynamic, and efficient payment ecosystems whilst maintaining collaborative relationships with their sellers around the world,” said Ramana Satyavarapu, Chief Technology Officer at Nium.

Lemonway and Nium join forces to help marketplaces accelerate growth beyond borders

Lemonway, one of Europe’s leading payment service providers (PSP) with over 400 marketplace customers, has partnered with Nium to add payouts via SEPA Instant rails to its existing solution, enabling online marketplaces to meet the needs of more cross-border sellers and accelerate growth. So far, Lemonway has processed almost $1 billion in payment volumes on behalf of its customers via the Nium platform.

“For marketplaces, the ability to seamlessly acquire sellers operating in multiple markets – and offer them all a consistent payment experience – cannot be understated. Nium is helping us to deliver just that for our marketplace customers across Europe. Together, we are empowering these platforms to redefine the seller payment experience, tap into a thriving global community, and accelerate new market expansion,” said Jérémy Ricordeau, Chief Operating Officer at Lemonway.

In a rapidly expanding global ecommerce market, the loyalty of sellers is not a given. A 2023 report found that 56% of businesses sell on more than two online marketplaces compared to 50% a year prior while 62% of sellers surveyed plan to sell on more marketplaces in the next 12 months. “If marketplaces are to expand their market share, acquiring, retaining and growing sellers operating globally will require a new approach to cross-border payouts,” adds Nium’s Ramana Satyavarapu. To find out more about what sellers want from marketplace platforms, and how to turn global seller payouts into a growth engine, download Nium’s latest e-book.

This is a strategic move for the payments fintech unicorn as it continues an impressive growth trajectory, in part driven by new product innovation and vertical expansion. Today, Nium serves some of the world’s largest financial institutions, digital platforms, and global businesses across the remittance, payroll, spend management, travel, insurance, and marketplace sectors.

About Nium

Nium, the leader in real-time, cross-border payments, was founded on the mission to deliver the global payments infrastructure of tomorrow, today. With the onset of the global economy, its payments infrastructure is shaping how banks, fintechs, and businesses everywhere collect, convert, and disburse funds instantly across borders. Its payout network supports 100 currencies and spans 220+ countries, 100 of which in real-time. Funds can be disbursed to accounts, wallets, and cards and collected locally in 35 markets. Nium’s growing card issuance business is already available in 34 countries. Nium holds regulatory licences and authorizations in more than 40 countries, enabling seamless onboarding, rapid integration, and compliance – independent of geography. The company is co-headquartered in San Francisco and Singapore.

About Lemonway

Lemonway is a pan-European Payment Institution offering a solution dedicated to marketplaces, and alternative finance platforms looking for a payment processing and collection system on behalf of third parties in a secure and regulated framework. Regulated by the ACPR and benefiting from the European passport in 29 countries, Lemonway is based in Paris and Hamburg. 400 marketplaces already trust Lemonway. The FinTech manages 1.3 million wallets for users of its partner platforms and has raised €50m from Breega, SpeedInvest, and Toscafund.

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Technology

This Week in Consumer News: 13 Stories You Need to See

Published

10 minutes ago

November 15, 2024

A roundup of the most newsworthy consumer and retail announcements from PR Newswire this week, including a new Frosty, Black Friday deals and a new app from Big Lots.

NEW YORK, Nov. 15, 2024 /PRNewswire/ — With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help consumer/retail journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

Celebrating 55 Years of Frosty: Wendy’s Drops New Salted Caramel Frosty Nationwide
Fans can pair the Salted Caramel Frosty with two new fall menu items at Wendy’s: the Mushroom Bacon Cheeseburger and a fresh take on the beloved Taco Salad.Wonder Announces Acquisition of Grubhub
Integrating Grubhub with Wonder is the next step in Wonder’s mission to make great food more accessible, bringing together the convenience, speed and selection of first-party and third-party restaurants, groceries and meal kits in a single app order. Additionally, all Wonder locations will be available on Grubhub for third-party delivery.Big Lots Unveils New Rewards App to Elevate the Shopping Experience
With features like one-touch shopping, profile and credit card management, and weekly exclusive deals, the app ensures a convenient and rewarding shopping experience. PEPSI® and Regal Are Transforming a New York City Theatre Into the Roman COLAsseum For Exclusive Fan Event Celebrating Paramount Pictures’ Highly Anticipated Gladiator II Film
Fans can sign up to RSVP for the free, immersive activation to get hyped for the upcoming Paramount Pictures film Gladiator II, only in theatres everywhere on November 22. They’ll be transported to “The Pepsi COLAsseum” at Regal Times Square and be the first to experience the movie in 4DX.Priceline Unveils Biggest Deals of the Year with Savings as Much as 99% Off this Holiday Season
Priceline created its biggest sale of the year with holiday deals across flights, hotels, rental cars, cruises, vacation packages and activities to trending destinations. Priceline will unveil its holiday savings in three waves now through Travel Tuesday, offering opportunities to save big on travel with deals running through the end of the year.YEEDI Slashes Robot Vacuum Prices by up to 45% in Black Friday and Cyber Monday Sale
Yeedi announced major Black Friday and Cyber Monday discounts, including all the top savings on YEEDI’s popular robot vacuums. The sale runs from November 11 through December 2, offering the year’s best prices on YEEDI’s most advanced cleaning solutions.Hallmark Brings Joy to Your Entire Holiday Season
Hallmark is celebrating the holiday season with a wide selection of products and experiences designed to bring comfort and joy to every celebration. From holiday greeting cards to its new streaming service and membership program Hallmark+, Hallmark is bringing the magic of the season to life in stores, on screens and in person.Hershey’s Chocolate World is Decking the Halls with All New Experiences
Hershey’s Chocolate World announces its wonderful slate of holiday experiences, treats and eats, and first-ever additions just in time for the peak of winter travel. Just as 46% of consumers say they plan to travel this holiday season, the attraction looks forward to once again welcoming multigenerational guests to experience sweet, holiday fun.Fetch Launches New Web Browser Extension to Make This Holiday Season the Most Rewarding Yet
Fetch, America’s Rewards App, today announced the launch of the Fetch Shop Web Extension, a new, easy way for users to earn rewards by making purchases directly from a web browser. The new web extension helps consumers rack up Fetch Points for their purchases from participating online retailers when shopping through their browser.NUK® Unveils the Perfect Match™ 2-in-1 Natural + Anti-Colic Bottle: The Ultimate Breastfeeding Companion for Stress-Free Feeding
Featuring a super-soft, skin-like silicone nipple, the Perfect Match bottle adapts to each baby’s unique palate, mimicking the natural shape and feel of a mother’s breast for a stress-free feeding experience that supports your breastfeeding journey from start to finish.Rockin’ Around the FeastiviTREE: Fancy Feast Introduces Its First Cat-Friendly Holiday Tree
To keep playful paws out of trouble, Fancy Feast has created the FeastiviTREE – a feline-friendly holiday tree built to withstand even the most spirited felines, so cats and cat lovers can celebrate the season together in style.Lady Gaga Releases New Haus Labs Get Ready with Me Makeup Tutorial on Sephora YouTube – Achieving a Full Face with Only One Brush Lady Gaga breaks down her daily makeup look showcasing five best-selling Haus Labs products, while she opens up about her work as a clean makeup innovator.Chipotle Sleighs Holiday Gifting with “All I Want Is Chipotle” Collection Featuring Viral Fan-Inspired Creations
Chipotle is bringing back three of its best-selling, viral products: Cilantro Soap, the “Water” Cup Candle and Car Napkin Holder, the perfect gifts for Chipotle fans this holiday season. Starting November 14, items from the “All I Want Is Chipotle” holiday collection will be available for purchase individually and bundled as a set on Chipotlegoods.com while supplies last.

For more news like this, check out all of the latest retail-related releases from PR Newswire.

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Helping Journalists Stay Up to Date on Industry News

These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.

Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:

Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.

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Technology

Roundtable with Shaw Laureates

Published

10 minutes ago

November 15, 2024

Future of Science: Breakthroughs and Impacts

HONG KONG, Nov. 15, 2024 /PRNewswire/ — The “Roundtable with Shaw Laureates – Future of Science: Breakthroughs and Impacts”, presented jointly by The Shaw Prize Foundation and the Hong Kong Science Museum, and organised by the South China Morning Post, was held on 14 November at the Hong Kong Science Museum. This gathering brought together four distinguished 2024 Shaw Laureates for a cross-disciplinary discussion on various aspects of scientific research, from interpersonal to international communication and collaboration, to the impact of AI on the entire scientific community and beyond. The roundtable attracted over 120 in-person participants, and hundreds of audiences online.

Among the speakers were Shrinivas Kulkarni, Shaw Laureate in Astronomy 2024; Swee Lay Thein and Stuart Orkin, Shaw Laureates in Life Science and Medicine 2024; and Peter Sarnak, Shaw Laureate in Mathematical Sciences 2024.

A key focus of the conversation was the increasing role of emerging technologies, particularly AI, in science research. The speakers acknowledged the inevitability of AI’s integration across all disciplines and emphasised the need for scientists to embrace this advancement. From a life science point of view, AI has the potential to accelerate drug development by replacing the traditional trial-and-error method. Students should be equipped with the technology, and be aware of what the tool can and cannot do. Mathematician Sarnak highlighted the importance of leveraging valuable resources such as international conferences, particularly those hosted in major cities like Hong Kong, to maximise the impact of AI in driving scientific breakthroughs through enhanced international collaboration.

While recognising the benefits of AI, concerns regarding the implications of this technology were also addressed during the roundtable. Speakers stressed the pivotal role of the understanding process in the pursuit of knowledge, emphasising that this process encapsulates the true essence of being a scientist – an aspect that AI cannot replicate.

During the interactive session, speakers answered various questions from the audience, among which were many young researchers and scholars. Life scientists Orkin and Thein encouraged young scientists to pursue their own interests and commit to work that they strongly believe in. In contrast, Astronomer Kulkarni, who viewed science as a strategic endeavour, advised students to identify and maximise one’s strengths and optimise resources effectively to achieve success in this “game” in science.

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SOURCE Shaw Prize

Technology

Hybrid UAV Market worth $1,705.0 million by 2030 – Exclusive Report by MarketsandMarkets™

Published

10 minutes ago

November 15, 2024

DELRAY BEACH, Fla., Nov. 15, 2024 /PRNewswire/ — The Hybrid UAV Market is estimated to be USD 760.7 million in 2024 and is projected to reach USD 1705.0 million by 2030, at a CAGR of 14.4% between 2024 and 2030 according to a new report by MarketsandMarkets™. The hybrid UAV market is rapidly evolving, characterized by the integration of advanced technologies and increasing demand across various sectors. Defined by the development and deployment of unmanned aerial vehicles that utilize multiple propulsion systems, hybrid UAVs combine conventional fuel-powered components with electric power sources. This innovative approach addresses the limitations of traditional UAVs, enabling enhanced payload capacities, extended flight times, and improved operational versatility. As industries seek more efficient and adaptable aerial solutions for applications such as surveillance, agriculture, and logistics, the hybrid UAV market has gained significant traction. The market was valued at approximately USD 760.8 million in 2024 and is poised for substantial growth, driven by continuous technological advancements, including sophisticated avionics and intelligent energy management systems. With a focus on sustainability and efficiency, hybrid UAVs are redefining aerial capabilities and setting new standards for performance in the unmanned aerial vehicle landscape.

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Browse in-depth TOC on “Hybrid UAV Market”
258 – Tables
64 – Figures
253 – Pages

Hybrid UAV Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 760.7 million

Estimated Value by 2030

$ 1705.0 million

Growth Rate

Poised to grow at a CAGR of 14.4%

Market Size Available for

2020–2030

Forecast Period

2024–2030

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Type, Industry, Propulsion, Endurance, Power and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Rapid advancements in battery technology and all-electric UAV systems

Key Market Opportunities

Innovations in energy storage technologies

Key Market Drivers

Intelligent energy management in hybrid UAVs

By Type, the Lift + Cruise segment is projected grow the fastest during the forecast period.

The increasing demand for efficient urban air mobility solutions is propelling interest in Lift + Cruise designs, which offer the versatility of vertical takeoff and landing (VTOL) combined with the efficiency of fixed-wing flight. This capability is particularly appealing for applications such as cargo delivery, emergency services, and passenger transport in congested urban environments. Advancements in hybrid propulsion technologies are enhancing the performance and reliability of Lift + Cruise UAVs, allowing them to achieve longer ranges and higher payload capacities while minimizing environmental impact. The integration of artificial intelligence (AI) further enhances these systems by optimizing flight paths and energy management, thereby improving operational efficiency. Furthermore, regulatory developments aimed at facilitating urban air mobility are creating a more favorable environment for the deployment of Lift + Cruise hybrid UAVs.

By Industry, the commercial segment is expected to grow the most during the forecast period.

Increasing demand for versatile aerial solutions across various industries, including agriculture, construction, and logistics, is propelling the adoption of hybrid UAVs. These drones offer the unique advantage of combining electric and combustion propulsion systems, enabling longer flight times and enhanced payload capacities, which are essential for tasks such as aerial surveying, crop monitoring, and infrastructure inspection. The integration of advanced technologies, such as high-resolution cameras and LiDAR sensors, further enhances the capabilities of hybrid UAVs, making them indispensable tools for data collection and analysis. The growing emphasis on sustainability and reducing carbon footprints is encouraging businesses to adopt hybrid UAVs as a more environmentally friendly alternative to traditional aerial solutions.

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North America holds the highest growth rate in the region for the Hybrid UAV Industry.

The region’s strong aerospace and defense infrastructure supports significant investments in hybrid UAV technology, with companies like AeroVironment and Northrop Grumman leading the charge in innovation. The increasing demand for versatile aerial solutions across various sectors—including agriculture, logistics, and surveillance—further propels the adoption of hybrid UAVs, which combine the benefits of electric and combustion propulsion systems to enhance operational efficiency and extend flight capabilities. The growing emphasis on sustainability and reducing carbon emissions is also a critical driver, as hybrid UAVs offer a more environmentally friendly alternative to traditional aircraft.

Key players in the hybrid UAV companies include Northrop Grumman (US), Thale (France), L3Harris Technologies, Inc., (US), JOUAV (China), Elroy Air (US), Draganfly (Canda), Pipistrel (Italy), Harris Aerial (US), Natilus (US), Doosan Mobility Innovation (South Korea) Moya aero (Brazil), Waveaerospace (US), Aeronautics (Israel), Skyfront (US), Xer Technologies. Avartek (UK), ElevonX (US), ALTI Unmanned (South Africa) and Elbit Systems Ltd. (Israel) among others.

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Browse Adjacent Market: Aerospace and Defence Market Research Reports &Consulting

Related Reports:

Cargo Drones Market by Solution (Avionics, Route Planning & Optimization, Ground Control Stations), Payload (10-49 Kg, 50-149Kg, 150-249 Kg, 250-449 Kg, 500-499 Kg, 500-999 Kg, >1,000 Kg), Industry, Range, Type, and Region – Global Forecast to 2030

UAV (Drone) Market by Type (Fixed Wing, Rotary Wing, Hybrid), Platform (Civil & Commercial, and Defense & Government), Point of Sale, Systems, Function, Industry, Application, Mode of Operation, MTOW, Range and Region – Global Forecast to 2029

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