Global payments and cards issuance provider Nium announced today a strategic partnership agreement with Al Mulla Exchange, a member of Al Mulla Group and Kuwait’s leading remittance and exchange company, to enhance the operation of transfers for Al Mulla Exchange clients to key markets and regions globally.
Al Mulla Exchange retail and corporate customers will benefit from enhanced remittance and payments services to nations across the world in the respective local currency at very competitive FX rates as a result of this partnership. Customers will be able to access these services through the company’s network of over 100 branches and KIOSKs located at selected locations in Kuwait, as well as via the online website and mobile application. Al Mulla Exchange App was named one of the “Top Fintech Apps in the Middle East” by Forbes Middle East and was ranked the number 1 remittance application in Kuwait and the 3rd in the MENA region in 2020.
“We are happy to announce our partnership with Al Mulla Exchange today. With a network of 104 branches in Kuwait and an exceptional customer-centric approach, the company is committed to providing its customers the best services globally. Al Mulla Exchange customers will be able to access beneficiaries in countries all over the world and make payments in local currencies thanks to our global network of licences and banking relationships”, says Rohit Bammi, Global Head of Institutional Sales at Nium.
Nium will enable Al Mulla Exchange to provide their customers with:
- Seamless B2B, B2P, P2P and P2B cross-border payments in all major currencies
- Access to multiple real-time payment corridors
- Instant, speedy settlements to customers
- Competitive FX rates
Commenting on this strategic tie-up, Mr. Abdulla Najeeb Almulla, Chairman of Al Mulla Exchange Company said: “Al Mulla International Exchange Company has always focused on delivering consistent and seamless remittance experiences to its customers, through the use of cutting-edge technology in partnership with correspondent banks and service providers. NIUM is a new age digital platform for international remittances, and Al Mulla Exchange is confident of using this tie up for improving further on international funds transfers to specific countries and corridors at competitive prices, thereby delivering customer delight.”