Hyperwallet partners with Thunes to expand payout access into APAC

As part of this network, Hyperwallet customers can send money in real-time to more than 450 million mobile wallets and bank accounts across Bangladesh, Indonesia, Malaysia, Philippines, South Korea, and Vietnam.

Payout preferences in APAC

Payout preferences for consumers vary widely across the APAC region depending on banking penetration, the proliferation of real-time payment schemes and the usage of digital wallets in each market.

According to Deloitte’s 2024 report on cross-border payments, the Asia Pacific region makes up nearly 70% of global digital wallet spending at USD 9.8 trillion. The region also has the highest digital wallet penetration rates amongst all regions, meaning 50% or USD 7.8 trillion for all digital wallet spending at POS.

Thunes’ report shows that digital wallet payment adoption rates in places like the Philippines and Indonesia are over 30%, 11% in Vietnam and 6% in Indonesia. Digital wallet usage has gradually consolidated into two to three popular wallets in each market.

Additionally, Southeast Asian regulators have recognised the potential for real-time payment infrastructure for cross-border transactions. Countries such as Indonesia, Malaysia, Singapore, and Thailand have formed bilateral real-time payment connections to neighbouring markets that attract trading partners and are a source of significant inbound tourism.

Payout access for merchants across APAC

With this new alliance, Hyperwallet can help its global merchant base offer customers their preferred method of access to funds.

With its network that directly connects to over 7 billion bank accounts and mobile wallets worldwide, combined with its SmartX Treasury System and Fortress Compliance Platform, Thunes is set to support Hyperwallet to increase its reach in new regions and to improve its cross-border payment services.

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