Singapore based company Thunes has introduced Thunes Business Payments, a cross-border payment solution designed to enhance the payment experience for its Direct Global Network members.
This network includes a diverse group of financial institutions and businesses such as enterprises, merchants, neo-banks, traditional banks, and mobile wallets.
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With the integration of Thunes’ API, the members can now process international business payments in a “cost-efficient way”.
The solution offers payment services in over 30 currencies, including USD, EUR, and CNY, and extends to more than 50 countries, covering key markets such as Brazil, Canada, China, Europe, Hong Kong, India, Mexico, Singapore, and the UK.
Businesses using the solution can pay international suppliers in their local currencies, which aims to reduce costs associated with currency exchange and financial reconciliation.
It also enables USD payouts, which are said to accessible in real-time to over 170 countries.
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By GlobalDataBesides, it features Thunes SmartX Treasury System to improve FX and “transaction transparency” and liquidity management.
It ensures “guaranteed” pricing, trackable local currency and USD payouts, and requires only a single integration with Thunes’ API, the company said in a statement.
The solution offers compliant transactions via its Fortress Compliance Platform with real-time fraud protection.
Thunes president and chief operating officer Chloé Mayenobe said: “Thunes Business Payments is a purpose-built solution that empowers banks, wallets, fintechs, enterprises, and merchants to meet evolving customer needs and unlock new growth.
“With access to local ACH in over 50 countries, Thunes Business Payments sets a new benchmark for speed, transparency, and affordability, reducing friction in cross-border transactions, streamlining operations, and ensuring predictable costs. The market opportunity for Thunes Business Payments is immense, driven by rising demand from Members of our Direct Global Network for faster, more transparent, and cost-effective business transactions.”
In February, Thunes expanded Direct Global Network to Taiwan, enabling members to offer real-time payout services in the country, with transaction support in TWD and USD.
