Overview
On Nium One, clients and customers use Payouts to send money to over 190 countries. They can also make payments in real-time and on-demand in over 100 countries.
Payouts happen in real time as part of an instantaneous money-movement effort. This movement automatically sends money from the source to the destination during the transaction process.
Clients and customers can take advantage of Payouts to make remittances to all their beneficiaries. Payouts are avilable for business-to-business (B2B), business-to-people (B2P), peer-to-business (P2B), and peer-to-peer (P2P) transactions. The payments get disbursed to your beneficiaries' bank accounts, cards, cash flows, and digital wallets.
Availability
Payouts are available for over 100 currencies:
- Local Automated Clearing House (ACH) to bank accounts—78 countries
- Local currency wires to bank accounts—39
- Local currency wires to bank accounts—seven currencies, 179 countries
- Visa Direct—100 countries
- Wallets or proxies (mobile number, email address, or ID)—15 countries
Foreign exchange rate
To illustrate an example of a payout, say we have a client that wants to pay S$5,000 Singapore dollars (SGD) to employees in Singapore from a wallet with $10K United States dollars (USD).
Using Payouts on Nium One, you send the money for the payment from your USD wallet with $10K to the SGD wallet that has no money. As part of this transaction, your payment goes through the required foreign exchange (FX) money conversion, which happens during the Exchange Rate Lock And Hold API call before the payout transaction.
The FX rate for USD to SGD is 1:1.33. So, for the S$5,000 SGD, the USD equivalent is $3,707. Submitting a $3,707 payout to an SGD wallet results in a payout of S$5,000 SGD.
The FX rate used is taken from Reuters® FX service every day of the week, 24/7-including weekends and holiday-with a refresh cycle rate of 15 minutes. The FX rate is based on the currencies used pairs between the source and destination.
- The payout fee calculation is done in real time during the transaction
- Additional configurations are available for Payouts based on the payment methods used.
Payout corridors
See The Nium Playbook for all the available corridors in the Americas, Europe, the Middle East, Africa, and Asia-Pacific countries. Payouts can send money using the Nium One platform—filter by country or payout method to explore the Nium offerings.
Payout methods
Payouts support the following payment methods:
| Payment Method | payoutMethod value | Description |
|---|---|---|
| Card | CARD | Visa Single Euro Payments Area (SEPA) Direct Debit or China UnionPay |
| Local bank accounts | LOCAL | - Local clearing systems to transfer funds electronically (e.g., ACH) - Local currency wires to bank accounts |
| Proxy | PROXY | Transfers to a national ID, mobile number, or email address |
| SWIFT (foreign currency wires) | SWIFT | Transfers through the Society for Worldwide Interbank Financial Telecommunication |
| Wallet | WALLET | Stored value wallets |
The following diagram shows Payouts using different payment methods.
Payout execution
To execute a payout, you need:
- A remitter or source.
- A payment method enabled with payout capabilities.
- An FX markup configuration per currency pair.
- A payout fee based on the payment method.
- Nium validation services to monitor transactions and a payment partner interface. Nium One has partnered with over 60 payment validation services.
- A beneficiary or destination.
If you have any questions about using Payouts on Nium One, reach out to Nium Support at any time.
Updated about 2 months ago