Thunes, a global payment innovator, has announced a strategic collaboration with Visa to enable new endpoints in key markets across Asia and Africa. This partnership allows Visa to tap into Thunes’ network to send payments to over 108 digital wallet types and bank accounts in countries such as Kenya, the Philippines, Indonesia, and Pakistan. Thunes is also implementing Visa Direct’s push-to-card capability, enabling payouts to eligible Visa cards and accounts across 190+ countries and territories.
The collaboration between Visa and Thunes is part of Visa’s plan to tap into the growing market for global money movement flows, which is projected to reach $200 trillion. Digital wallets are becoming increasingly popular, with more than 60% of the world’s population expected to use them by 2026. As a result, banks like CIBC in Canada are working with Visa to add cross-border payout capabilities to digital wallets, recognizing the importance of mobile wallet interoperability in optimizing payments.
This new initiative builds on the existing partnership between Visa and Thunes, which began in 2022 to extend Visa Direct’s reach to 1.5 billion wallets. Thunes also announced a Series C extension round in 2023 with Visa as a key investor. Chris Newkirk, Global Head of Commercial & Money Movement Solutions at Visa, highlights the importance of broadening the payment ecosystem to enable seamless money movement from any endpoint to any endpoint. Floris de Kort, CEO of Thunes, emphasizes the opportunity for B2B cross-border payments at scale and is excited to work with Visa to enable new payment flows.
Thunes currently facilitates payments in 84 currencies across 133 countries, using over 550 payment methods. With offices in 14 locations worldwide, including Singapore, Beijing, Nairobi, and London, Thunes aims to connect the world’s population and enable commerce to operate in a borderless, frictionless way.
For more information on Thunes and their payment solutions, visit their website at https://www.thunes.com/. This collaboration with Visa is a significant step towards advancing global money movement and enabling seamless payment capabilities across different regions.
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