Thunes announces „the launch of faster, more reliable, and more transparent payments into China’s mainland following a deepened collaboration with UnionPay International (UPI)” – according to the press release.
With the new collaboration, Thunes has launched a direct technical connection from its Direct Global Network to UnionPay’s infrastructure, significantly enhancing its existing support for the UnionPay MoneyExpress remittance service. The direct connection will result in streamlined access to a massive base of UnionPay cardholders across 79 major Chinese banks, including Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China (ABC), Bank of China (BoC), China Construction Bank (CCB), Bank of Communications (BOCOM), China Merchants Bank (CMB) for Thunes’ Members globally including banks, neobanks, super apps, gig economy platforms, digital wallets and money transfer operators.
Despite being the world’s second-largest economy, sending money to China has traditionally been complex, and hindered by hidden fees and the need for recipients to manually declare funds. „Thunes’ direct connection to UnionPay resolves these frictions. By connecting directly, the collaboration between UnionPay and Thunes enables a seamless Pay-to-Card experience where transactions are credited in real-time or within 12 hours.” – the company said.
„Through its Direct Global Network, Thunes Members are able to access a domestic-style payment journey for international payments to China’s mainland with exchange rates locked in upfront, ensuring funds arrive directly as RMB to UnionPay debit cards in China’s mainland without any manual intervention.” – the company explained.
“Establishing a direct connection with UnionPay International is a game-changer for our Direct Global Network. This goes beyond access, it represents a high-speed, direct-to-card rail into a leading economy without the friction of traditional cross-border payments. Our Members around the world can offer their customers a truly domestic-like payment experience to a massive base of UnionPay cardholders, ensuring that sending money to China’s mainland is as simple as sending a text message.” – commented Aik Boon Tan, Chief Network Officer at Thunes.
Thunes is the Smart Superhighway to move money around the world. Thunes’ proprietary Direct Global Network allows Members to make payments in real-time in over 130 countries and more than 80 currencies. Thunes’ Network connects directly to over 7 billion mobile wallets, stablecoin wallets and bank accounts worldwide, as well as 15 billion cards via more than 320 different payment methods, such as GCash, M-Pesa, Airtel, MTN, Orange, JazzCash, Easypaisa, AliPay, WeChat Pay HK and many more.
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