Visa and Thunes Expand Their Reach with Cross-Border Payments to Asia and Africa
By: Tareq Sikder
Thunes is a cross-border payment solutions provider. The company has announced an extension of its strategic partnership with Visa. The partnership with Visa has been expanded. The aim of the collaboration is to introduce endpoints in key markets in Asia and Africa.
Expanding access to digital wallets and bank accounts
Visa uses Thunes’ network to improve collaboration. Facilitates payments to several different recipients and bank accounts across Africa and Asia, including major markets such as Kenya, Indonesia, Pakistan and the Philippines. Thunes also features Visa Direct’s push-to-card functionality, enabling seamless integration of payouts to Visa cardholders and accounts in over 190 countries.
Chris Newkirk is the global head of trade and monetary solutions at Visa. Source: LinkedIn
Chris Newkirk, global head of Movement Solutions at Commercial & Money Visa, commented: “At Visa, we build the infrastructure that enables our partners to seamlessly transfer money from any endpoint to any endpoint. We are expanding our reach” and the number of endpoints. To achieve this goal, it is important that we have more than $8.5 billion today. Together with Thunes, we are expanding the payment ecosystem to include bank accounts and cards. “Our wallets will ultimately become slimmer payment options for our mutual customers”
Visa predicts a global money transfer market worth $200 trillion, highlighting the enormous growth potential of this industry. The term “transaction” can be used to describe a variety of types, including B2B, P2P, and government transactions. Payouts. Thunes has expanded its cooperation to enable withdrawals. Visa aims to strengthen its position by introducing digital wallets, bank accounts and Visa cards. Seize this growing market opportunity.
Improving global payment accessibility
Digital wallets are becoming increasingly popular. Predictions have highlighted the ease of use, security and speed of these devices. Over 60% of the population will adopt them. The goal is to have all of our houses built by 2026.
A growing number of financial institutions are recognizing this. Visa has worked with Visa, including CIBC Canada and other prominent institutions. Integrate cross-border payment capabilities into digital wallets. This trend is a key factor: the growing acceptance of mobile wallet compatibility as a standard. The main mechanism for optimization Payments Both consumers and entrepreneurs can benefit from this offer.
This new initiative builds on the existing collaboration between Thunes and Visa. The partnership was originally planned. In October 2022, Visa Direct will reach 1.5 billion wallets. Since then, the alliance has developed into a multi-layered alliance with the aim of driving innovation. Accessibility in cross-border payments
“Our partnership is more than a financial relationship” investment. We collaborate on networks, payments and corridors. With the further digitalization of payment transactions, new methods are emerging. There is untapped potential. Thunes is excited to offer cross-border B2B payments at scale. Floris De Kort, CEO of Visa, said: “We are working with Visa to enable new payment flows.” The Thunes.
