“Australia was an early adopter of tap-and-go technology, effectively combating frauds. During COVID, there was an incredible adoption of digital wallets, moving away from physical cards while retaining the tap-and-go convenience. There is potential for new payment service providers to enter the market, similar to India’s UPI, emphasizing the use of real-time payment platforms,” said Andy White, CEO, Australian Payments Network (AusPayNet), during a fireside chat with Ritesh Shukla, Chief Executive Officer, NPCI International Payments Ltd. on ‘Crystal ball gazing: the Future of Payments, Data and Digital Trust’ at the Global Fintech Fest 2023 (GFF 2023).

In another session on ‘Australian Capabilities in Tech Sector’, hosted by Vik Singh, Trade and Investment Commissioner, Austrade, Rehan D Almeida, General Manager, Fintech Australia, said that Australia and India could benefit from each other’s strengths. “Australia’s new trade agreement brings opportunities for people with high skills to get access to the market and find opportunities in Australia. Secondly, investors and startups can get access to capital and the massive market.”

He was joined by Malini Dutt, Trade, and Investment Commissioner – India, Investment NSW, Rufus Pinto, Country Manager – India, ANZ Bank, Prem Naraindas, Founder and CEO, Katonic and Janet Salem, Founder, FootprintLab in the panel discussion. “I would like to see the Australian government funding Indian projects and Indian Government funding projects in Australia, so that companies can take their offerings cross-border and create more Google and Wi-Fi stories,” said Malini Dutt, Trade, and Investment Commissioner – India, Investment NSW, speaking on exploring cross-border partnerships to fuel the growth of scale-ups.

GFF 2023, the largest thought leadership platform in the world, is supported by the Ministry of Electronics and Information Technology (MietY), the Department of Economic Affairs (DEA), Ministry of Finance, the Reserve Bank of India (RBI), and the International Financial Services Centres Authority (IFSCA) and is organized by the Payments Council of India (PCI), Fintech Convergence Council (FCC), and National Payments Corporation of India (NPCI).

Smt. Nirmala Sitharaman, Minister of Finance, Government of India inaugurated the conference. “Fintechs in India are driving more inclusion and influencing India’s financial ecosystem. Today, fintech has become a robust and dynamic financial inclusion tool,” Smt. Sitharaman said, dwelling at length on the role of fintechs in building a global responsible financial ecosystem.

Following the in-principle approval earlier this year, Tazapay Pte. Ltd. (“Tazapay”) a leading fintech company specialising in cross-border payments, is delighted to announce the attainment of a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore (MAS). The approval from MAS further underpins Tazapay’s commitment to robust regulatory compliance and operational excellence.

Singapore, known as a hub for international trade and commerce, offers the perfect vantage point for Tazapay to expand its reach and impact across Asia and beyond. The MPI licence allows Tazapay to extend its full suite of services, spanning account issuance, merchant acquisition, cross-border and domestic money transfers, and e-money issuance, to its growing client base.

Rahul Shinghal, CEO of Tazapay, shares his excitement, “Receiving this licence from MAS is a remarkable milestone in our journey. It not only signifies our commitment to delivering the highest standards of regulatory compliance but also paves the way for us to provide even more innovative and mission-critical cross-border payment solutions. As a Singapore-born and headquartered company, we view this achievement with immense pride and gratitude.”

Even amidst a challenging tech winter, Tazapay continues to demonstrate resilience and an unwavering commitment to growth. The MPI licence acts as a catalyst for a host of forthcoming initiatives dedicated to augmenting the quality, security and user-friendliness of Tazapay’s services. Coupled with the successful closing of our series A funding of USD 16.9 Million, Tazapay is better positioned than ever to transform the way cross-border e-commerce merchants operate especially in sectors such as travel, education technology, fashion & apparel, gifting and gaming.

With this milestone, Tazapay is ready to redefine cross-border transactions, offering a seamless and secure payment experience to businesses in the vibrant e-commerce space. The journey continues, and Tazapay remains dedicated to its mission of making global payments as smooth and frictionless as possible.

About Tazapay

Tazapay is a Singapore-based fintech company, designed to redefine the cross-border payment experience. Since its inception in 2021 by industry veterans, Tazapay has raised a successful $16.9 million Series A funding round, with significant investment from prestigious institutions such as Sequoia and the PayPal Alumni Fund. The platform allows businesses to transact with ease in 173+ countries, offering an array of card and local payment options. Its unified interface simplifies the onboarding process, allowing businesses to partner with just one entity, thereby streamlining their payment process. Tazapay continues to drive global business growth by offering a trusted and accessible platform for cross-border e-commerce transactions.

• Headquarters will be a hub for business expansion across Asia Pacific, the Middle East, and Africa
• Nium affirms long-term commitment to Singapore, announcing new initiatives to drive growth of ‘BizTech’ job category

Nium, the leader in real-time global payments, today celebrated the opening of its new headquarters in Singapore. The ceremony was officiated by Mr. Heng Swee Keat, Deputy Prime Minister of Singapore. The state-of-the-art facility, located strategically at Capital Tower in the heart of Singapore’s Central Business District, has been purpose-built for modern work, featuring collaborative workspaces and employee-centric amenities.

The new headquarters is Nium’s strategic hub for serving clients across Asia Pacific, the Middle East, and Africa. Co-Founder and COO at Nium, Mr. Pratik Gandhi, will continue to be based out of Singapore. The new headquarters will be overseen by Mr. Gandhi and Mr. Anupam Pahuja, who joined Nium recently as its Executive Vice President and General Manager for Asia Pacific, Africa and the Middle East. His experience scaling global companies, including PayPal, will help continue Nium’s strong momentum after a year in which it grew net revenue globally by more than 2.5X (from 2021 to 2022).

With this new opening, Nium is reaffirming its commitment to building in Singapore and is introducing initiatives to serve the regional fintech community at large. It will partner with the public and private sector to establish a centre of excellence in Singapore for the hiring, training, mentoring, and developing of ‘BizTech’ talent – a new job category that serves to recognise the growing importance of both technical proficiency and business acumen.

Secondly, Nium is expanding Bolt, its global fintech accelerator. Bolt provides startup founders with access to facilities, funding, mentoring, and technology to establish and grow their business ideas in the fintech space. The program, founded in Singapore, will be extended to San Francisco, California, and will serve Singaporean companies looking to establish a foothold in the United States of America.

Prajit Nanu, Co-Founder and CEO at Nium, said, “When I started Nium, I had big dreams for what it could be – none of which would have been possible without the support of the government, investors, and clients that are part of the thriving fintech community in Singapore. This headquarters will be home to our growing regional team and the door will always remain open for entrepreneurs looking to solve the next set of global challenges with innovation.”

Nium’s selection of Singapore for its headquarters is a resounding testament to the flourishing fintech landscape within the country. With its supportive economic policies, access to top talent, and strategic location, Singapore provides the perfect launchpad for Nium’s innovative solutions.

Managing Director and Chief Operating Officer at Enterprise Singapore, Mr. Jeffrey Siow, added, “It has been exciting to see Nium, a home-grown fintech company, grow from strength-to-strength in the last decade. The opening of Nium’s new headquarters in Singapore is a testament of their continued commitment to Singapore. We look forward to continue partnering with Nium as they scale up and extend their reach globally.”

The unveiling of the new office follows Nium’s recognition as a Great Place to Work Certified™ employer, re-affirming its status as an exemplary global workplace. This esteemed certification, sought after by organisations worldwide, is uniquely based on the firsthand experiences of team members, providing an accurate reflection of the consistently high-trust environment they enjoy. Nium was also listed on the prestigious Forbes Fintech 50 – a collection of the most innovative companies in financial technology.

About Nium

Nium was founded on the mission to build the global payments infrastructure of tomorrow, today. With the onset of the on-demand economy, its single platform for global payments and card issuing is shaping how banks, fintechs, and businesses everywhere to disburse and collect funds instantly across borders. Its payout network supports 100 currencies and spans 190+ countries, 100 of which are 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, with regional offices in over 20+ major cities.