Nium, a global financial technology platform, has become a Visa issuer in Australia as part of its membership in Visa’s Fintech Fast Track programme. With this licence, Nium is able to provide end-to-end issuing, processing and onboarding services, and shorten the lead time for Visa card issuance to just four to six weeks.
Nium plans to use the issuance license to extend its portfolio to clients in Australia and beyond, providing end-to-end B2B and B2C issuing services globally. Through this partnership, Nium will be able to:
- Conduct real-time funds transfers to both physical and virtual Visa Credit and Debit cards, for instance, deposition of payroll into Visa cards
- Enable secure digital payments through tokenization for in-stores, online payments and at ATM points
- Unlock simple payment experiences for businesses and consumers around the world through multi-currency cards with multi-pocket/wallet spend management features
Currently, business owners rely on outdated card management systems as part of their corporate bank accounts. There is limited or no digital access, and significant time is spent on reconciling expenses and claims. Integrating and managing a card issuing programme can generate significant competitive advantage for businesses, such as an increase in productivity, but it also can pose a significant challenge as it requires deep vertical expertise and considerable commitment from the business.
Nium would streamline and simplify access for companies with end-to-end card issuing solutions, allowing them to operate intelligent digital wallets that can easily be used across millions of points of sale within Visa’s global acceptance network.
“One of Nium’s primary goals is to improve business efficiency through the introduction and facilitation of financial technology, and this partnership with Visa allows us to do that at scale. The flexibility of our APIs tools and turnkey infrastructure, coupled with Visa products and services, allow us to support different use cases for Spend Management seen across various business models and platforms, from companies looking to reconcile T&E for employees, businesses looking to pay suppliers and vendors overseas, or innovative technology companies looking to send payments to their community, we are able to customise the solution for each and every single one of them,“ said Gitesh Athavale, Head of Product (Cards), Nium.
“Businesses in Australia are starting to recognise the need for a digital solution that will revamp existing corporate card management system. The antiquated system that involves physical paperwork to edit card management settings, lack of rewards interface and delayed expense tracking will no longer survive in today’s age where digitisation is king, and we are glad to be partnering with Nium to provide a robust digital solution for the next generation of business owners whom are demanding a better banking experience,” said Simon Lenoir, Founder and CEO of Budgetly.
Nium is also working with Australian music platform Emanate, to disburse royalties to musicians and artistes via the corporate StreamCard. Fees are topped up automatically once the artistes’ music has been played, enabling them to access and use the funds across all Visa’s points of sales immediately.
“As a music community dedicated to increasing speed and fairness for our artists through technology, Emanate is excited to be able to use a progressive and financial services product like Nium. Our goal of giving musicians near real-time access to streaming royalties is becoming much easier thanks to the Nium-powered Emanate StreamCard. This will change the lives of our musicians from day one. Imagine releasing a song in the morning, and that night your plays cover a round of beers with your friends to celebrate. It’s never been done before,” said Sean Gardner, CEO Blockchain Music Pty Ltd (Emanate).
This announcement comes shortly after Nium introduced the addition of Visa and BRI Ventures as new investors to the six-year-old startup in May 2020.
This News has been Published in Partnership with PR Newswire
Nikola Positioned To Accelerate Hydrogen Economy
Nikola Corporation (NASDAQ: NKLA) has secured an innovative electric rate schedule with Arizona Public Service Company (“APS”) that makes possible the accelerated development of hydrogen-based fueling solutions for the transportation industry. Nikola is a company dedicated to the advancement of innovative zero-emissions truck solutions and the energy infrastructure required to make this feasible. By facilitating low-cost production of hydrogen, the Arizona Corporation Commission’s (“ACC”) approval of this rate schedule paves the way for the curtailment of greenhouse gases in the transportation sector, while also providing benefits to key constituents via novel grid-balancing solutions.
Today’s unanimous approval of this agreement by the ACC provides Nikola with a competitive electric rate specifically designed for the production, processing, and dispensing of hydrogen. This will support, among other things, enabling a zero-emission heavy-duty freight corridor along the I-10 freeway between Los Angeles and Phoenix.
APS’s competitive electric rate will help lead the creation of the hydrogen economy in Arizona. Nikola estimates that under the rate structure it will be able to deliver hydrogen at market leading prices and within the ranges required for Nikola to offer competitive lease rates for its trucks customers.
The agreement reflects value that results from the curtailment flexibility that Nikola’s hydrogen production facilities are expected to provide to the electrical grid. These facilities will be configured to respond to the needs of the grid, for example by reducing Nikola’s energy consumption from the electric grid during heatwaves. This agreement will encourage Nikola to deploy capital within the state, increase electric load relating to hydrogen production, and further develop and employ a highly skilled and well-educated workforce.
Nikola CEO, Mark Russell, celebrated today’s critical milestone stating: “Nikola values the joint efforts of APS and the ACC to enable competitive electrolytic hydrogen production. The approval of this special rate for hydrogen production is critical for advancing the future of zero-emissions transportation and building a hydrogen economy.”
Nikola President of Energy and Commercial, Pablo Koziner, added, “Through this agreement, Nikola is assured a reliable and competitively priced source of electricity that will allow us to commence the development of hydrogen production facilities to serve the fueling needs of our truck customers. The agreement sets an important precedent in showcasing that innovative operational solutions can be developed for the economic production of hydrogen that maximize benefits to all stakeholders.”
The approval of this agreement marks an important milestone. Going forward, Nikola will work with APS to finalize site selection and interconnection requirements to establish its first hydrogen production facility in Arizona.
“For decades, hydrogen has been a promising, but elusive, source of clean energy for both the transportation and power sectors. We simply haven’t done enough to bring hydrogen to the mainstream,” stated Chairwoman Lea Márquez Peterson. “As we begin to enter a new energy economy, however, I want to ensure that we take all steps necessary to promote Arizona’s gradual and innovative move towards decarbonization. By supporting this application, we are doing exactly that. Let’s make our great state the nation’s epicenter of hydrogen production, processing, and fueling, and let’s have Arizona serve as a model to other states about clean energy innovation.”
ABOUT NIKOLA CORPORATION:
Nikola Corporation is a designer and manufacturer of zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure, Nikola is driven to revolutionize the economic and environmental impact of commerce as we know it today. Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona.
Allseated Acquires easyRAUM To Further Expand European Presence
Allseated, a global leader in innovative event technology, announced today its acquisition of Dusseldorf based, easyRAUM GmbH to further scale its rapid expansion into the European market. The acquisition broadens Allseated’s market presence, bringing the full power of its event technology platforms to venues, brands, corporates, and planners across Europe.
A long-time leader and serving some of the biggest names in the German speaking market, easyRAUM’s reputation and reach has been second to none. With thousands of users powering large scale events, it has been successfully serving and expanding its customer base for the past fifteen years.
“This is a strategic move for us to further scale our business in Europe by combining easyRAUM’s market presence, amazing team and customer base with Allseated’s cutting-edge technology platform.” said Yaron Lipshitz, Allseated CEO. “EasyRAUM has been a great partner of ours and we have worked so close together, that the acquisition seems more of a formality at this point. Thanks to our now German team, Allseated is now powering some of the largest venues and brands in the European market with our latest virtual event product exVo, already in use by the local industry” he added.
“We are pleased to open a new chapter with Allseated, for our customers, for the industry, and for our company” said Sabine Reise, Founder and Managing Director of easyRAUM and now Managing Director of Allseated GmbH. “Our many years of industry and market experience as well as the software development know-how complement the agile structures of Allseated perfectly”.
Sandy Hammer, co-founder and CMO of Allseated added: “The partnership with easyRAUM enabled us to short-circuit our expansion in this exciting market and to quickly bring value to some amazing brands. We are thrilled to have the team join our rapidly growing company.”
Financial terms of the transaction are not disclosed.
Allseated is one of the world’s most innovative event technology platform powering hundreds of thousands of events a year. Through a cutting-edge 3D visualization platform including floorplan design tools, venue virtual tours, and revolutionary virtual/hybrid event solution, Allseated is transforming the event industry and leveraging innovation with superior customer service to help clients grow their businesses.
GameChange Solar Unveils Bifacial Tracker Reflector Technology to Boost Power Production 15-20%
GameChange Solar today announced BifacialReflector™, a patent-pending new technology which dramatically increases power production for the GameChange Solar Genius Tracker™ with bifacial modules. The technology is a highly reflective (.95 albedo), permanent solid surface up to 4m wide, which reflects light from just above ground level to the back of the bifacial modules. This technology is a significant improvement over other ideas since it is not a ground cover which has a limited life and requires constant maintenance. BifacialReflector™ is a self-cleaning, long-term (40-year life) solution. The reflectors can boost the gain by up to an estimated total of 15-20% when using bifacial modules, which is approximately 5-8% extra gain versus other bifacial trackers which do not have BifacialReflector™ technology.
Andrew Worden, CEO of GameChange Solar, stated: “Solar power plant owners globally have been asking for a cost-effective, long life, maintenance-free, high reflectivity (.95 albedo) ground cover to place under trackers with bifacial modules. We are excited to have been able to provide a unique and superior solution, the BifacialReflector™ technology. Our technology has a significant power boost for bifacial modules and has a life of 40 years with no maintenance, making it a meaningful breakthrough for the industry.”
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