Nium and OwlTing to collaborate on cross-border payments


Valentina Vitali
Valentina Vitali
Research Analyst
Valentina is a Research Analyst and passionate about payments and fintech. Valentin enjoys analysing money transfer companies and the market. In her work, Valentina analyses payments data… Read more
  • A blockchain services firm called OwlTing has announced that it will join forces with an international money transfer company called Nium as part of a new push.
  • The new OwlPay service is designed to enable improved payments across Southeast Asia, especially in the travel and e-commerce sectors.
  • “Currently, the average cross-border remittance fee falls between 25 to 30 USD per transaction, while OwlPay charges lower than 10 USD with same-day settlement,” said a senior figure at OwlPay.

OwlTing, a blockchain services firm, has announced that it will pair up with Nium, which is a digital cross-border payments business.

The goal of the new collaboration will be to push forward the OwlPay service, which is owned by OwlTing.

This new service is designed to allow for improved e-commerce payments to be made.

It targets travel and e-commerce platforms in particular as part of its goals.

It is understood that the new arrangement will be focused on Southeast Asia at first.

OwlTing has marked itself out as a strong performer in the industry in recent years.

It was set up back in 2010 and has a presence in a number of major locations such as the US, Hong Kong, Singapore, and more.

It also works with a number of industries, including defence, food and medical, giving it a broad range of focuses.

In a statement, OwlPay senior manager Una Peng said that the new service would help international businesses.

“We are optimistic about the benefits OwlPay brings to global enterprises, cross-border e-commerce platforms, as well as online travel agencies (OTAs) offering various products and services,” she said.

She went on to say that the pairing with Nium would bring about a fresh business-to-business “payment experience”.

“OwlPay not only allows enterprises to integrate cash flow and information flow, but helps them achieve operational excellence without the need to build an internal payment infrastructure that costs extra time and effort,” she said.

“It is estimated that OwlPay can save up to 50% labor cost for the financial team.”

She also added that the fee for each transaction was likely to be reduced.

“Currently, the average cross-border remittance fee falls between 25 to 30 USD per transaction, while OwlPay charges lower than 10 USD with same-day settlement,” she said.

To discover more about what companies like this are up to in the online money transfer sector, just go over to our reviews pages to get the information and learn what you need to know.

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