Thunes Launches Instant Payouts to 1Bn + Weixin Users: Forges Unique Link Between China and the Rest of World
Singapore / Beijing, 22 November 2022 – Thunes, a global cross-border payments network, announced today that it has partnered with Tencent Financial Technology, Tencent’s fintech arm, becoming the first payment infrastructure partner connecting with it. This collaboration will allow members of Thunes’ global network to send international payments to Weixin users, giving them fast and easy access to the Chinese market.
Weixin, with its international version known as WeChat, facilitates one of China’s most popular payment methods Weixin Pay, with the majority of Weixin and WeChat’s 1.3 Billion users concentrated in China. Now existing and new members of Thunes’ global network can send payments to Weixin users in China, creating additional revenue opportunities for them: from a Chinese engineer in East Africa looking to send money to family back home, to young professionals working in the US wanting to transfer money to their parents in China. Thunes’ partnership with Tencent Financial Technology will make it quicker and simpler to make payments from around the world.
“China is now seen as a global leader in digital payments and payment innovation, and mobile payments are at the forefront of the evolution. We are excited to bring the ability to connect our global customers with Weixin’s massive consumer base, creating tremendous opportunities for service enhancement and revenue generation for all members in our ecosystem,” said Daphne Huang, SVP APAC, Thunes.
Wenhui Yang, General Manager, Tencent Financial Technology Asia Pacific, said, “We are always looking for better ways to serve our users. So it is only natural for us to partner with a global network like Thunes, making it easier and more affordable for Weixin users to receive money globally. This move boosts the seamless payment experience, and we strive to make cross-border remittance as easy as sending a message.”
The news follows Thunes’ announcement of plans to ramp up partnerships and accelerate its expansion earlier this year. This collaboration not only gets both companies closer to the borderless payment future, but it also opens up new product innovation and service enhancement possibilities for Thunes’ clients – Fintech players, financial institutions, neobanks and wallet providers across the world.
Founded in 2016, Thunes is a B2B company that powers payments for some of the world’s fastest-growing businesses – from Gig Economy giants such as Uber and Deliveroo and Southeast Asia’s super-app Grab to global Fintech leaders such as PayPal and Remitly. Through a single, simple connection, consumers and businesses can send payments to – and get paid in – every corner of the world. Thunes currently supports 79 currencies, enables payments to 130 countries, and helps to accept 300 payment methods. In April 2022, Thunes acquired a controlling stake in a leading AML and Compliance Platform company Tookitaki, which now enables the company’s advanced compliance, anti-fraud, and anti-money laundering (AML) capabilities, setting an international benchmark for sustainable compliance. The company is headquartered in Singapore, with regional offices in London, Paris, Shanghai, New York, Dubai, Hong Kong, and Nairobi.
For more information, visit www.thunes.com