Nium and Emirates NBD have recently made additional strides in their cross-border payments partnership.
Service Expansion
The collaboration has been extended to the Emirates NBD Group across the United Arab Emirates, setting the stage for potential expansion into Saudi Arabia.
The initial introduction of this partnership in 2024 allows Emirates NBD customers to perform real-time international transfers using Nium’s global payments infrastructure. This service offers faster, more reliable, and cost-efficient remittance options for both individuals and businesses. By expanding access within the UAE market through the wider Emirates NBD Group, the service has been made available to a broader clientele.
UAE Remittance Landscape
The UAE holds one of the largest positions as a global remittance hub. Data from the World Bank in 2024 indicates that outbound remittances from the UAE amounted to approximately USD 38.5 billion in 2023. Given that expatriates make up nearly 90% of the population, the demand for efficient and affordable cross-border payment solutions is significant.
Fintech Partnerships in MENA
Nium’s research report, “Payments in the Middle East: The Next Frontier,” highlights how strategic collaborations between financial institutions and fintech providers are driving innovation across the region. This expansion of the Emirates NBD-Nium partnership underscores this trend and aligns with efforts to enhance financial inclusion, improve customer experience, and support regulatory harmonization within the Middle East, North Africa, and Türkiye.
Emirates NBD has been leveraging technology partnerships to bolster its international payments offerings. By integrating Nium’s infrastructure, the bank is reinforcing its digital capabilities and expanding regional connectivity. The prospective launch in Saudi Arabia is anticipated to play a pivotal role in meeting growing remittance demands within the Gulf Cooperation Council (GCC).
Nium’s Strategic Positioning
The partnership positions Nium as a provider of real-time global payments infrastructure, enabling banks, businesses, and payment providers to offer faster international transfers across various corridors. By reaching more customers and preparing for a market entry in Saudi Arabia, this collaboration exemplifies the rapid evolution of cross-border payments in the region.
As remittances remain crucial to the UAE’s financial flows, the partnership is expected to enhance efficiency and accessibility for millions of users.
