- TrueMoney is set to partner with Thunes in a significant industry tie-up.
- This provides an expanded network of cross-border payments services in the South East Asia region.
- Thunes currently operate in over 100 markets, working with over 60 currencies.
According to a press release from both parties today, the leading Asian fintech start-up TrueMoney has partnered up with the cross-border payments company Thunes in what is set to be a significant expansion of its remittance operations.
Thunes is a B2B cross-border payments network that allows corporate and financial institutions, as well as individual retail users, to send funds and provide financial services.
In particular, Thunes is focused on emerging markets such as the South East Asia region.
TrueMoney is one of the region’s most prominent start-ups, and since being established in 2003, it has gone on to join both the Ascend Group and the Ant Financial Services Group.
It currently provides access to money transfer services to millions of users across the region.
This tie-up will significantly expand the market spread of both companies, with Thunes currently operating in over 100 countries and working with more than 60 currencies.
This will allow TrueMoney users to receive remittances sent from a significantly expanded number of locations thanks to Thunes’ global partner network.
According to a press release by Dale Kim, the managing director of Ascend Money Co. Ltd, the TrueMoney operator, this partnership represents a significant expansion for the company, and allows it to better serve its clients across a variety of locations.
For Thunes, this represents yet another step in its plan to be the leading remittance service provider in the South East Asia region.
Customers from Myanmar will be among the first to benefit from this tie-up, and within the coming days and weeks, Thunes’ sending partners will have access to TrueMoney’s agent network across South East Asia.
For people in the Burmese ex-pat community, this type of remittance service will allow them to send money home straight to a TrueMoney cash pick-up location.
With over 400 partnerships to its name globally, Thunes is one of the largest partner networks in emerging markets, particularly in South East Asia.
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