Thunes partners with Pomelo

Following this announcement, Thunes and Pomelo are expected to introduce an international money transfer solution from the US to the Philippines, as the partnership will focus on optimising the way remittances are handled via Thunes’ digital wallet integration, as well as reducing costs and connecting families in new ways. 

In addition, both companies will focus on meeting the needs, preferences, and demands of customers in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry. 

More information on the collaboration

Thunes represents a global payment company that focuses on enabling businesses to move money in real time and in full transparency. Pomelo is a remittance and credit card firm that was developed by combining traditional cross-border money transfer and credit card mechanics in order to provide a more efficient, secure, and convenient way to send money to loved ones abroad, without the need to pay any transfer fees. 

Pomelo was developed in order to disrupt traditional remittance methods, underwriting each of its customers to provide a credit line to fund their remittance transfers while also building their credit history in the US simultaneously. The partnership with Thunes will enable Pomelo to allow a safer and more efficient take on cross-border payments and money transfers in the global remittance market by offering users’ families continued access to a line of credit to spend, while the primary client pays the bill on a monthly cadence.

In addition, cardholders will be enabled to immediately transfer their Pomelo credit line to the recipient’s GCash digital wallet via Thunes’ network. Alongside sending directly to digital wallets like Gcash, the Pomelo cardholder will have the possibility to support up to three family members, friends, or acquaintances anywhere in the world. This business model also provides both payees and recipients with the needed access to competitive exchange rates, while reducing money transfer costs at the same time. 

Furthermore, the solution services the US/Philippines remittance corridor and cross-border payment flows, while future plans also include expanding the product to other popular US/international markets, such as India and Mexico. In addition, the partnership also aligns with Thunes’ strategy to make cross-border payments faster, more affordable and transparent, as well as accelerate the development of the financial landscape and improve customer experience. 

For more information about Thunes, please check out their detailed profile in our dedicated, industry-specific Company Database.