Nium and Relay Process More Than $500 Million in Cross-Border Payments

Nium and Relay have processed more than $500 million in cross-border payments since beginning their partnership about a year ago. The figure, shared at Money20/20 USA in Las Vegas on 19 October 2026, marks cumulative payment volume over the first year. It doesn’t show an annual run rate, revenue, or the partnership’s average transaction size.

The service now supports payments for more than 500 Relay customers, most of them small and medium-sized businesses. Relay customers can collect, convert, send and spend funds internationally, with payment coverage across 153 countries using Nium’s infrastructure. For Relay, the arrangement adds international payment capabilities to its banking platform without requiring it to build its own cross-border network.

Infrastructure behind the service

Relay is a US-based digital banking platform for small businesses, with tools for tracking cash flow and managing multiple accounts. Embedding Nium’s payment rails gives Relay access to international collection, conversion and payout capabilities through a technology provider. That model lets a customer-facing platform focus on its banking experience while relying on a specialist network for cross-border transactions.

Nium holds licences in more than 40 countries and has a payout network spanning more than 190 markets. More than 100 of those markets support real-time settlement, and Nium is a principal member of Visa, Mastercard, Discover and UATP card schemes. These figures describe the reach and capabilities of Nium’s wider network; Relay’s stated customer coverage is 153 countries.

For businesses paying suppliers or contractors abroad, the number of supported countries is only one measure of usefulness. The experience also depends on whether a payment can reach the intended recipient, how quickly funds arrive, and how clearly the conversion cost is shown. A broad network can help address geographic coverage, while delivery speed and pricing remain important at the transaction level. The companies haven’t provided details here on Relay payment fees, foreign exchange pricing or settlement performance across its 153-country service.

What the milestone shows—and leaves open

The more than $500 million in processed payments indicates substantial cumulative use across the partnership’s first year. It doesn’t establish how that volume was distributed among customers or countries, whether activity accelerated over time, or how much revenue either company earned from it. Without average transaction size, take rates or revenue contribution, the figure is best read as a measure of payment activity rather than a direct measure of financial performance.

Anupam Pahuja, Nium’s chief business officer, said businesses need certainty from onboarding through delivery, and described Relay as providing that certainty across 153 countries. His comments point to a key operational test for cross-border services: a payment experience needs to work from the point a customer starts using the product through to the arrival of funds.

Yoseph West, Relay’s CEO and co-founder, said the company needed a technology partner able to keep pace through modern APIs and close collaboration. He described the relationship as one that could expand as demand among Relay customers grows. The company has not outlined a timetable or specific additions to the service.

A competitive market and a layered business model

Relay and Nium operate in a crowded market for cross-border payments to small businesses. Wise Business, Airwallex and Payoneer also serve companies that pay overseas suppliers, freelancers and contractors. Providers in this segment compete on the reach of their payout networks, how quickly customers can get started, and how transparently they present foreign exchange costs when a payment is set up.

Nium’s role reflects a broader infrastructure model: it supplies payment capabilities to fintech platforms and digital banks, which then serve their own customers. Nium is co-headquartered in San Francisco and Singapore and has raised venture capital over several rounds. In this arrangement, Relay brings the customer-facing banking platform, while Nium supplies international payment connections. The division can reduce the need for a platform to create a cross-border network from scratch, but it also makes the quality of the end product dependent on coordination between the two companies.

Relay is not an FDIC-insured bank. Its banking services are provided by Thread Bank, a licensed depository institution. This structure matters to customers because the digital platform and the institution providing banking services have different roles. The cross-border payment arrangement adds another layer, with Nium supplying international payment infrastructure. The service may look unified to a small business using Relay, while several providers contribute behind the scenes.

The next developments to watch are whether the companies extend the arrangement to Relay Capital products, which are listed separately, and whether Relay’s current 153-country coverage changes. Those details, alongside customer growth and clearer information about pricing and transaction economics, would help show how the first-year volume translates into a durable business for both sides.

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