News

Oct 22, 2024

Thunes integrates with Swift for global mobile wallet payments

Thunes has announced an enhancement to its Direct Global Network, enabling banks to access over three billion mobile wallets worldwide using their existing Swift connectivity. This development

Thunes has announced an enhancement to its Direct Global Network, enabling banks to access over three billion mobile wallets worldwide using their existing Swift connectivity.

This development facilitates an expansion of cross-border payment capabilities for financial institutions.

The integration with Thunes' Direct Global Network allows Swift-connected banks to join as Members and process payments to 120 mobile wallet brands across more than 130 countries and 80 currencies.

This is achieved without the need for additional technical integrations, streamlining operations for financial institutions.

Thunes CEO Floris de Kort 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.”

Financial institutions can now send instant payments directly to mobile wallets in over 130 countries, leveraging the global reach of Thunes' network.

Members of Thunes' network will benefit from the SmartX Treasury System and Fortress Compliance Platform, which offer enhanced speed and control.

These systems are integral to facilitating real-time payments to mobile wallets.

The collaboration between Swift and Thunes aims to increase financial inclusion by connecting under-banked populations to the global financial system.

It comes on the heels of Nium’s artnershi with Swift t

In August this year, Thunes announced an alliance with Alipay+, supporting cross-border payments for merchants in Paris.

Thunes' network connects to over seven billion mobile wallets and bank accounts, supporting more than 320 different payment methods. These include platforms such as GCash, M-Pesa, Airtel, and AliPay.

"Thunes integrates with Swift for global mobile wallet payments" was originally created and published by Electronic Payments International, a GlobalData owned brand.

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