Thunes Enables Banks to Unlock Mobile Wallet Payments Via Their Existing Swift Connectivity

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Oct 21, 2024, 02:00 ET

SINGAPORE and LONDON, Oct. 21, 2024 /PRNewswire/ -- Thunes, the Smart Superhighway to move money around the world, today announced its proprietary Direct Global Network now provides banks with access to over 3 billion mobile wallets around the world via their existing Swift connectivity.

Thunes' new network capability allows financial institutions connected to Swift to become Members of Thunes' proprietary Direct Global Network and process fast, transparent and reliable cross-border payments directly to 120 mobile wallet brands around the world, without needing to undertake a separate technical integration to Thunes. Through the new connection with Thunes's Direct Global Network leveraging existing Swift connectivity, financial institutions can now send instant payments directly to mobile wallets in over 130 countries and 80 currencies.

Through the connection with Thunes' Direct Global Network, which covers 130 countries and 80 currencies, financial institutions can send instant payments directly to mobile wallets via their existing Swift connectivity, with minimal technical lift and operational changes.

Financial institutions will also benefit from Thunes' SmartX Treasury System and Fortress Compliance Platform – enjoying speed, control, visibility, protection and cost efficiencies when making payments in real-time to mobile wallets.

By leveraging Swift's financial messaging services and enhancing payment capabilities with Thunes' expansive Direct Global Network the new capability enables financial institutions to deliver seamless cross-border transactions, increasing financial inclusion across markets where mobile wallet usage is prevalent. Specifically, it aims to reach billions of under-banked people, giving them access to the global finance system.

Floris de Kort, CEO of Thunes, said: "Opening our Thunes' Direct Global Network Membership to the banking community perfectly aligns with our mission to make the global economy accessible to all. We're transforming the cross-border payment experience for financial institutions and their customers, building bridges between bank and wallet ecosystems to facilitate frictionless payments in previously unreached regions."

Chloé Mayenobe, President and COO at Thunes, said: "By connecting to Thunes' Direct Global Network, we're unlocking new possibilities for the banking community, expanding their reach into the world of mobile wallets. This solution enables seamless, real-time cross-border payments to over 3 billion mobile wallets, empowering financial institutions to deliver faster, more transparent transactions while enhancing financial inclusion in underserved regions. We are advancing the future of global payments, providing greater choice and accessibility for billions of people."

About Thunes:

Thunes is the Smart Superhighway to move money around the world. Thunes' proprietary Direct Global Network allows Members to make payments in real-time in over 130 countries and more than 80 currencies. Thunes' Network connects directly to over 7 billion mobile wallets and bank accounts worldwide, via more than 320 different payment methods, such as GCash, M-Pesa, Airtel, MTN, Orange, JazzCash, Easypaisa, AliPay, WeChat Pay and many more. Thunes' Direct Global Network differentiates itself through its worldwide reach, in-house SmartX Treasury System and Fortress Compliance Platform, ensuring Members of the Network receive unrivaled speed, control, visibility, protection, and cost efficiencies when making real-time payments, globally. Members of Thunes' Direct Global Network include gig economy giants like Uber and Deliveroo, super-apps like Grab and WeChat, MTOs, fintechs, PSPs and banks. Headquartered in Singapore, Thunes has offices in 15 locations, including Abidjan, Barcelona, Beijing, Dubai, Hong Kong, Johannesburg, London, Manila, Nairobi, Paris, Riyadh, San Francisco, Sao Paulo and Shanghai. For more information, visit: https://www.thunes.com/