Nium enhances global payroll payments solution, offers transparent Foreign Exchange (FX) rates for more predictable payroll

Nium, the leader in real-time global payments, has enhanced its market-leading payroll payments solution to support the complex needs of payroll platforms worldwide. Nium’s payroll solution simplifies global growth for a majority of payroll platforms, including Panther, a provider of global employment, payroll, benefits, and contractor software that can be integrated with an HR tech stack.

In addition to expanded network and currency coverage in Canada, Africa, Middle East, Latin America, and Asia Pacific, new enhancements to this offering include:

• Foreign Exchange (FX) Transparency: Allows for end-to-end FX control, which includes transparent costs with a single clear FX markup and one low per-transaction fee to help manage costs at scale. With this, clients can schedule bulk conversion for ease and control, lock FX rates to manage FX fluctuation, and configure fees at the customer level for flexibility;
• Beneficiary Pre-screen and Confirmation of Payee: Minimizes potential returns with verified payee information and keeps the payment process quick and smooth;
• Scheduled Payouts: Enables clients to disburse payments to their workforce on a certain date. Provides predictability to their clients’ employees on when to expect to receive their salary payouts;
• Direct Debit in the US, UK, and EU: Provides the ability for platform clients to pull funds from their customers’ primary bank accounts into their Nium wallet to fund payroll payouts, this improves cash flows and reduces friction.