Thunes, a global cross-border payment network, has announced a strategic partnership with China Construction Bank (OTC:CICHF) (CCB) to enhance interoperable financial services and support CCB customers by enabling efficient cross-border payments for Chinese small and medium-sized businesses (SMBs). The company is planning to launch new international payment acceptance products by 2024, aiming to overcome currency and border challenges.
The CEO of Thunes, Peter De Caluwe, revealed the partnership on Tuesday. Recognizing the pivotal role of financial institutions like CCB in China, Thunes further demonstrated its dedication to the Chinese market through the inauguration of its Beijing office in June 2023.
In addition to the CCB partnership, Thunes has also joined forces with Smartcash PSB and Access Bank to optimize cross-border transactions. The collaboration with Smartcash PSB, approved by the Central Bank of Nigeria, offers free international remittances in naira to mobile wallets via the Smartcash agent network. This allows global customers to receive inward remittances using phone numbers as account numbers.
Meanwhile, Thunes' collaboration with Access Bank facilitates cross-border payments in 13 specific African countries. This enables all users, including non-account holders, to execute international transactions and receive inflows in the form of cash or bank deposits in USD from Africa, Americas, Asia-Pacific, Europe, Greater China, Middle East, and North Africa. These collaborations aim to provide faster and more transparent payments through modern digital transaction technology.
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