Cross-border payments firm Thunes has revealed plans to substantially speed-up its expansion in Greater China as it deepens its global operational footprint.
Thunes is a company that powers payments for some of the world’s fastest-growing companies. The firm currently supports over sixty currencies and enables payments to 120 countries and currently helps to accept 285 payment methods.
Thunes is headquartered in Singapore and has locations in London, Paris, New York, Dubai, Shanghai and Nairobi.
The expansion will span mainland China, Taiwan, Macau and Hong Kong, with the company also planning to expand its China team, tripling its headcount over the next 12 months and localising key functions.
Thunes noted that it intends to intensify its focus on building local partnerships with local digital payment leaders to enable firms and consumers to make faster and cheaper payments to and from China, as well as supporting business payments, virtual account setups and global collections.
Thunes will also pilot its virtual account service to connect China-based payment service providers to Indonesia ecommerce buyers.
Thunes SVP for Greater China Daphne Huang said, “This is an exciting moment for me personally and for Thunes as a company, as we plan to dramatically expand our presence in Greater China. China’s strong standing in digital payments and ecommerce makes it only natural for Thunes to come in and provide the payments infrastructure connecting this dynamic market with the rest of the world. We look forward to forging strong partnerships with Chinese Financial Institutions and integrating ourselves into the local financial community, and are committed to strong, stable, and reliable operations in this crucial market.”
In July 2021, Thunes acquired European payment platform Limonetik for an undisclosed fee. According to Thunes, this purchase will complement existing Thunes cross-border payments solutions by enabling businesses to get paid in 70 countries and use over 285 local payment methods such as mobile wallets, QR code payments, instalment payments and more. The company noted the new solution will be called Thunes Collections.
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