Thunes to acquire Tilia

Tuesday 23 April 2024 14:51 CET | News

Singapore-based cross-border payments company Thunes has announced its plans to acquire Tilia, an all-in-one payments platform, to accelerate its expansion in the US. 

In a bid to grow its presence in the US and the evolving online gaming market, Thunes signed a definitive agreement to acquire Tilia, which is licenced in 48 US states and territories and provides payment solutions for online games, virtual worlds, creator economies, and in-app purchases.

Singapore-based cross-border payments company Thunes has announced its plans to acquire Tilia, an all-in-one payments platform, to accelerate its expansion in the US.

Thunes’ development strategy across the US

Currently under regulatory approvals, the transaction is set to allow Thunes’ global network to accept and pay in real-time via four billion bank accounts, three billion digital wallets, and 550 Alternative Payment Methods (APMs). The company intends to make these available to merchants across the US, including current Tilia customers. By leveraging Tilia’s technology, Thunes is set to deliver Visa, Mastercard, American Express, JCB, and UnionPay acceptance to its customers.

Furthermore, the transaction sees Thunes and Linden Lab, the current majority owner of Tilia, agreeing to an exclusive five-year collaboration in which, after closing, the former offers payment processing and payouts to the latter via its global network. This aims to enable gamers to pay and receive money in real-time, in a more cost-efficient manner and with increased transparency. According to Thunes’ officials, the acquisition of Tilia supports the company’s commitment to expanding its services across the US. The move is set to allow Thunes to utilise Tilia’s functionalities to deliver merchants' direct money movement solutions in and out of the US. Additionally, Tilia’s knowledge of online gaming, virtual worlds, and token-based payments can assist Thunes in accelerating its expansion into the industry.

Representatives from Linden Lab underlined that, by merging Tilia and Thunes, their company’s customers receive additional payment choices, as well as the ability to obtain payouts in real-time, into any wallet or bank account of their choice. Also, officials mention that the current move does not impact the daily business activities of the teams, as well as customers as the two companies come together.

Thunes’ latest announcements

Prior to the current news, Thunes announced the expansion of its strategic collaboration with Visa, aiming to enable additional endpoints in Asia and Africa. By continuing to work together, Visa intended to leverage Thunes’ network to send payments to over 108 digital wallet types and bank accounts in countries like Kenya, the Philippines, Indonesia, and Pakistan. Also, Thunes aimed to implement Visa Direct’s push-to-card feature to deliver payouts made to eligible Visa cards and accounts across more than 190 countries and territories.

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

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Keywords: payments , payment methods, payout, online payments, expansion
Categories: Payments & Commerce
Companies: Thunes, Tilia
Countries: United States
This article is part of category

Payments & Commerce




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