Through this move, Thunes seeks to deliver more optimal business payments for its members, including enterprises, merchants, neobanks, traditional banks, and mobile wallets providing services to businesses globally, offering them the ability to transact in over 30 currencies, including USD, EUR, and CNY. The solution spans across 50 countries, with Thunes mentioning key markets such as Brazil, Canada, China, Europe, Hong Kong, India, Mexico, Singapore, and the UK.
By utilising the newly launched solution, businesses are set to be able to pay suppliers in their local currencies, minimising exchange rates and reconciliation costs, and benefiting from increased transparency on the payment reference. At the same time, users will have the ability to process USD payouts to over 170 countries. Thunes Business Payments also integrates the company’s SmartX Treasury System, which focuses on augmenting FX, transaction transparency, and liquidity management by providing real-time visibility into fund locations and the amount to be transferred to the recipient. Additionally, the solution is also supported by Thunes’ Fortress Compliance Platform, in turn ensuring compliance with regulations for secure transactions and real-time visibility and safeguarding.
Among the potential capabilities offered by Thunes Business Payments, Thunes underlines:
Efficient cross-border payments;
Transparent pricing that includes additional payment details;
Trackable local currency and USD payouts;
Single integration to Thunes’ API, which provides a cost-effective option for processing international business payments and mitigates the need for creating a correspondent banking network;
Scaled flexibility and a user-friendly experience.
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