Nium pens deal to power cross-border payments for Cambodia’s PhillipBank

Singapore-based cross-border payments startup Nium has signed a deal to power cross-border payments for the clients of PhillipBank, one of Cambodia’s growing banking group.

“We are delighted to be working together with PhillipBank to power their outward remittances,” said Prajit Nanu, co-founder and CEO of Nium. “This relationship further cements Nium’s position as a leading provider for cross-border transactions in Southeast Asia. With Nium, PhillipBank clients will be able to realize faster turnarounds, while being more confident about delivery times and payout amounts.”

Nium was recently rebranded from being known as InstaReM. Having already signed deals with several big Southeast Asian banks, Nium’s deal with PhillipBank means it can now strengthen its position as a dominant player in the institutional payments space in Southeast Asia.

“This is a significant partnership for PhillipBank at an exciting stage in our evolution,” said Ong Teong Hoon, CEO of PhillipBank. “With Cambodian businesses and institutions increasingly engaging with their global counterparts exploring new possibilities for collaboration, we must expand our cross-border payment capabilities into key markets across the world.

“We are already witnessing increasing demand from our customers for cross-border payments services. We are confident that Nium’s services will complement our offering and further strengthen our capabilities in serving our clients.”

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