Global B2B payments company Nium and Jordan’s leading currency exchange and money transfer provider, Alawneh Exchange today announced a strategic partnership that will allow Alawneh Exchange to leverage Nium’s vast pay out network in key markets, such as Australia, Canada, Europe, the UK and the US.

According to a publication released by the UK government, Jordan’s ascent to the World Trade Organization (WTO) led to a multitude of free trade agreements being signed with a wide range of countries and regions. This has created a vehicle for both domestic and economic development, as well as greater integration with the global economy.

"Nium strives to meet the global needs of our partners as quickly and efficiently as possible. We are delighted to partner with Alawneh Exchange, such a well-established company on the market, to deliver a seamless pay-out experience for their customers," said Frederick Crosby, Chief Revenue Officer at Nium.

Locally and regionally, Alawneh Exchange has become a prominent name in the money transfer and currency exchange business, offering clients competitive exchange rates and a place they can trust to send and receive their money, swiftly and securely. Today, the company operates 40 strategically located branches across Jordan, with over 835 employees driving a comprehensive range of foreign currency exchange and money transfer solutions and services.

"By providing a mix of premium financial services, access to a wide network of branches, state-of-the-art security safeguards, and the latest global technological applications in our industry, Alawneh has managed to maintain its leading position on the market. The partnership with Nium will only reinforce our positioning. We pride ourselves in our ability to maintain a high-growth rate by always expanding our network of partners and providing the best services to our customers. Tapping Nium’s global payments infrastructure and pay-out services will provide a more seamless, quick, reliable and cost-efficient experience for our customers, looking to disburse funds to Australia, Canada, Europe, the UK and the US," said Hassan Mraish, Deputy General Manager at Alawneh Exchange.

Nium’s pay-out capability will enable Alawneh Exchange to provide:

• Seamless B2B and B2B2C cross-border payments in 5 major currencies (AUS, CAD, EUR, GBP, USD)
• Access to over 65 real-time payment corridors
• Instant, speedy settlements to customers
• Competitive FX rates

The collaboration with Nium will roll out in stages, targeting the five major markets as part of the initial phase.