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Thunes and TrueLayer partner for Open Banking payments across Europe and the UK

Thursday 2 June 2022 09:56 CET | News

Europe-based Open Banking platform TrueLayer has announced a strategic partnership with Thunes, Singapore-based cross-border payments fintech.

The partnership aims to streamline and enhance the overall payments experience of consumers from Europe and the UK.

Thunes is creating a borderless B2B payment infrastructure tackling the payment needs of online retailers, marketplaces, fintech, and gig and shared economy platforms. 

Acknowledging the fast expansion of account-to-account payments, the partnership will allow Thunes to integrate TrueLayer’s open banking payments into its platform and make it available to over 100,000 merchants worldwide. As a result, thousands of marketplace platform clients and partners will leverage Open Banking payments and benefit from a wider market coverage and competitive conversion rates.

Payments processed through TrueLayer are a faster and cost-effective alternative to bank transfers and bypass traditional card networks and their hefty associated fees. Moreover, they significantly reduce fraud risk and eliminate chargebacks, both of which can cause significant costs for merchants.

Founded in 2016, Thunes is a B2B company that powers payments for fast-growing businesses across the world. It currently supports 79 currencies and enables payments in 130 countries, while accepting 300 local payment methods.

For more information about the companies, you can check their profiles in The Paypers’ company database here and here.

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Keywords: cross-border payments, merchants, Open Banking, Open Banking payments, Open Banking Ecosystem, partnership, fintech, online payments, account-to-account payment, online platform
Categories: Payments & Commerce
Companies: Fi, ING, LINE, Mati, Open, Tac, Tern, Thunes, TrueLayer, Two
Countries: World
This article is part of category

Payments & Commerce

Fi

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ING

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LINE

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Mati

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Open

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Tac

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Tern

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Thunes

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TrueLayer

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Two

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