Thunes and Visa Join Forces to Conquer the World: A New Deal for Global Expansion

Thunes, the up-and-coming cross-border payments fintech, is making waves in the financial world with its latest partnership announcement. Teaming up with global financial services giant Visa, Thunes is set to target emerging markets in Asia and Africa, expanding Visa’s reach from 78 to 108 markets for digital wallet payments. This collaboration isn’t new – Visa has been supporting Thunes since last year, even investing in the promising business. The partnership is a strategic move to disrupt the traditional banking industry’s legacy systems with Thunes’ innovative global payments network.

Established in 2016, Thunes has rapidly grown by offering a modern alternative to outdated banking payment systems. Their network caters to various customers, including financial institutions, neobanks, and money transfer services, facilitating real-time payments with a single upfront fee. This streamlined process provides users with much-needed transparency and confirmation of fund transfers, a stark contrast to the usual uncertainty around traditional money transfers. Floris de Kort, Thunes’s CEO, emphasizes the importance of empowering partners to move money seamlessly worldwide.

Chris Newkirk, Visa’s global head of commercial and money movement solutions, highlights the significance of the partnership beyond mere financial investment. The collaboration integrates the strengths of both networks, enhancing cross-border payment capabilities as digital transactions become increasingly prevalent. The additional functionality provided by Visa’s “Push-to-card” feature further boosts Thunes’ capabilities, enabling users to make payments to Visa accounts in over 190 countries and territories.

Thunes’s success story speaks for itself, having processed a staggering $65 billion in volume since its inception just eight years ago. Their business model, characterized by a single fee structure that significantly undercuts traditional money transfer costs, has garnered attention and acclaim. The partnership with Visa opens up new avenues for B2B cross-border payments on a large scale, tapping into a lucrative market segment with immense potential for growth and innovation.

In a rapidly evolving financial landscape, collaborations like the one between Thunes and Visa pave the way for a more efficient, transparent, and cost-effective global payment ecosystem. As digital payments continue to reshape the industry, forward-thinking partnerships and disruptive fintech solutions will play a pivotal role in driving financial inclusion and accessibility worldwide. Thunes and Visa’s joint efforts underscore the power of innovation and collaboration in revolutionizing cross-border payments for the better.