Today Nium announced that it has increased its global payments network through the addition of a new corridor to one of Europe’s largest economies, Poland.
Customers of Nium around the globe will be able now to send money in Poland’s local currency, PLN (Polish Zloty). The offer will also be extended to end-users. Beneficiaries will receive PLN payments in less than 30 minutes. The service can also be used to transfer money to any local currency bank account.
The increasing number of investments and projects it has attracted has helped Poland grow into a major European manufacturing hub. Recent research shows that Asian companies have moved production plants from Asia into Poland in order to diversify their business activities and reduce supply chain costs. To lower operating costs, Western companies have also set up factories in Poland. It was also known as “South Korea’s gateway into the European Union” and has seen an increase in investment from this Asian powerhouse over the past few years.
The expansion of Nium’s network into Poland will allow for a more efficient and convenient payment flow for its customers. It will allow businesses to send local payments to Poland without the hassle. Additionally, it will open pay-outs to the country to facilitate B2B transactions.
As post-pandemic businesses boom, Poland’s economy will grow steadily in 2012. We expect more money to flow into the country for investment or to pay suppliers and vendors. All funds that are transferred to Poland can be initiated using any of the 60+ currencies available through our pay-out platform, and the recipients will receive the money local currency,” Frederick Crosby is Chief Revenue Officer at Nium.
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As part of Nium’s European expansion efforts, payments in all non-EUR foreign currencies will be available to CEE countries like: Bulgaria (BGN), Czech Republic (CZK), Hungary/HUF and Romania (RON).