MyRemit integrates with existing FWapp targeted at migrant workers in Singapore to drive financial inclusion
SINGAPORE, 10 December, 2020 – Nium, a global financial technology infrastructure platform, and Aptiv8, an IT and manpower solution provider, today announced the launch of MyRemit, a remittance service within Aptiv8’sFWapp mobile application that allows migrant workers in Singapore to conduct digital remittance transactions via a single app.
Through this partnership, users of the FWapp will be able to leverage Nium’svast payout network to over 90 countries including Bangladesh, India, Sri Lanka, Indonesia, and China, to conduct convenient, safe, and affordable remittance transactions.
Ho Chee Wai, Vice President and Country Head for Niumin Singapore said, “Nium is deeply committed to advancing financial inclusion worldwide, and remittance innovation forms a significant part of this effort. Migrant workers have been facing tremendous challenges in sending money back home during the pandemic, withstrict measures on social distancing andmovement controlswithin dormitories being imposed.MyRemitprovides amore convenient and safer way for migrant workers to send money home to their loved ones as they can do it at any time and any place through the FWapp, which many of them trust and are already acquainted with. ”
The partnership with Aptiv8 is part of Nium’sRemittance-as-a-Service solution, which makes it easier for technology companies who are looking to become providers of payment services and offer remittance services on their own digital platforms. By partnering with Aptiv8 who already has a strong historyin providing services to these customers in Singapore, Nium’sRemittance-as-a-Service capabilities aims to expand Aptiv8’s current service offerings starting with digital remittance services.
Sam Tay, Chief Executive Officer of Aptiv8 said, “Since the launch of FWapp in 2017, we have attracted more than 100,000 registered users. Sending money home is a necessity for our foreign worker community in Singapore. We hope that through this partnership with Nium, we are able to further support them and make it easy for them to send and receive money from overseas in a few quick and easy steps, as well as achieve our goal of having 200,000 users by end of this year.We aim to expand our App platform to regional countries, and partnering with Nium will give us an edge by enabling us to enterthe countries where Nium has already have a presence in.”.
FWapp is a mobile application network, created by Aptiv8, in partnership with the Ministry of Manpower (MOM) in Singapore.It is a one-stop service platform for migrant workers with MOM, and is designed to help them better settle into Singapore throughproviding support in every aspect of their lives. Features of the FWapp include a First Job portal designated for migrant workers, with MOMproviding answers on frequently asked employment-related questions modules that enable the foreign workers to submit feedback to MOM in their native languages; and access to online services including Telco Top Up, Remittance, Online Purchases and E-Services.
Nium currently operates its Send, Spend and Receive business in over 90 countries, 65 in real-time.
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About Nium
Nium is a global financial technology platform redefining the way consumers and businesses send, spend and receive funds across borders. The company is continuously innovating to provide the most relevant and agile solutions to meet the needs of consumers and businesses, having evolved from solely focusing on consumer remittance via InstaReM, to also providing fintech solutions for businesses. Nium is regulated in Australia, Canada, European Union, Hong Kong, India, Indonesia, Japan, Malaysia, Singapore, United Kingdom and the United States of America, and processes billions of dollars a year for banks and payments institutions, the next generation of e-commerce players, OTAs and retail users across the world. Nium’s investors include Visa, BRI Ventures, Vertex Ventures, Vertex Growth, Fullerton Financial Holdings, GSR Ventures, Rocket Internet, Global Founders Capital, SBI Japan, FMO (Netherlands Development Finance Company), MDI Ventures, Beacon Venture Capital and Atinum Investment.
