Nium's new Crypto Accept API enables global merchants to accept Bitcoin and Ether as a payment method.
) before expanding to other digital assets in 2023. Payments are sent to internet merchants' accounts in U.S. dollars or other fiat currencies the next business day, allowing vendors to expand their market and enhance their online payment experiences while avoiding price volatility.
Nium partnered with crypto payments processor BitPay to launch the Crypto Accept feature. Consumers will choose their preferred cryptocurrency wallet and scan a QR code to complete the transaction. The service will verify that digital currency is available and settle the transaction in the merchant's chosen currency.
According to Joaquin Ayuso de Paul, the senior vice president and head of Nium Crypto, “Consumers hold more than $3 trillion in cryptocurrency and are looking for more places to spend this money online.” Nium was founded in 2014 as Instarem and is located in Singapore. The payments company claims a global network of 130 million consumers. The company is licensed as a Money Services Business in Singapore, Australia, Hong Kong, Malaysia, India, Canada, Europe and the United States.
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