SINGAPORE– 11 September 2019Thunes a global cross-border payments network for emerging markets, has extended its network with SeABank – one of the leading commercial joint stock banks in Vietnam, to broaden transfer payment delivery options in Vietnam.

From 2007 to 2018, the volume of remittances received in Vietnam more than doubled, according to The World Bank, making it the eighth highest recipient of remittances in the world. With more options available between real-time transfer to major bank accounts, mobile wallets and an extensive network of cash pick-up agents, this new partnership allows for greater reach and a more convenient experience.

In 2018 alone, remittances hit a record of US$15.9 billion in Vietnam, representing 6.6% of the country’s Gross Domestic Product. However, the distribution of remittances can be uneven, with some secluded areas unable to reap the economic benefits remittances bring. With this partnership that covers all communes with 10,000 Vietnam Post Offices as well as all the banks of the National Payment Corporation of Vietnam network, Thunes and SeABank are on a mission to provide the residents of smaller townships direct access to remittances.

 “We work relentlessly to provide opportunities for everyone to participate in the global economy. Partnering with SeABank enables us to build a better payment infrastructure and help make financial services more accessible,” commented Thunes CEO, Steve Vickers.

 “With this improved ability for Vietnamese to obtain real-time transfers, we hope to support financial inclusion by giving individuals and businesses alike the appropriate means to grow.”

SeABank CEO, Le Thu Thuy said:Thunes is a B2B global payment platform that enables people to access financial services through connecting diverse payment systems that allow real-time and fast money transfers. 

With customer orientation as the focus, SeABank always strives to bring customers perfect products and services with the best experience. The cooperation with Thunes in remittance will help SeABank’s customers to have a fast, safe and convenient cross-border money transfer channel”.

ABOUT SeABank

SeABank is known to be one of the leading groups of Vietnam’s largest joint stock commercial banks in terms of charter capital, operating network, brand awareness and stable growth rate with total assets. over VND 150,000 billion, a network of 165 transaction points in 25 major provinces and cities serving over 1 million individual and corporate customers in Vietnam.

According to the development strategy of becoming a typical retail bank in Vietnam, SeABank always strives to innovate, develop a variety of products, improve the quality of services to best serve customers’ needs.

With financial resources and the strategic cooperation of domestic and foreign shareholders, SeABank has affirmed their position by their intrinsic and effective values.

For more information visit www.seabank.com.vn