Global B2B cross-border payment company Thunes has expanded its partnership with payments giant Visa. This collaboration aims to facilitate new payment channels in key markets throughout Asia and Africa, broadening the accessibility to digital wallets and bank accounts.
The partnership will see Visa integrating with Thunes’ expansive network, enabling transactions to over 108 types of digital wallets and bank accounts in various countries including Kenya, the Philippines, Indonesia, and Pakistan.
Moreover, Thunes will adopt Visa Direct’s push-to-card feature, which allows for payments to be made directly to Visa cards and accounts in over 190 countries and territories worldwide.
This initiative is a continuation of the partnership between Visa and Thunes, which began in October 2022 to extend the reach of Visa Direct to 1.5 billion wallets.
Additionally, Thunes’ Series C extension round in July 2023 saw Visa as a significant investor, underscoring the deepening ties between the two firms.
Chris Newkirk
“At Visa, we’re building the infrastructure to enable our partners to move money from any endpoint, to any endpoint, seamlessly. Broadening both our reach and number of endpoints – more than 8.5B today — is crucial to achieving that goal.
Together with Thunes, we’re broadening the payment ecosystem by connecting to bank accounts, cards, and wallets, ultimately bringing more streamlined payouts capabilities to our joint clients.”
said Chris Newkirk, Global Head of Commercial & Money Movement Solutions at Visa.
Floris de Kort
“Our partnership with Visa is more than just a financial investment. We’re engaging with each other’s networks, corridors and payment methods as payments continue to digitise.
There is a crystal clear, untapped opportunity for B2B cross-border payments at scale, and Thunes is delighted to work with Visa to enable these new payment flows.”
said Floris de Kort, CEO of Thunes.
Featured image credit: Edited from Freepik
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- Source: https://fintechnews.sg/93568/e-wallets/thunes-and-visa-eases-payments-to-digital-wallets-bank-accounts/
