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Tag: Thunes

  • Safaricom, Thunes partner to simplify payments for Kenyans, Tanzanians visiting China

    Safaricom, Thunes partner to simplify payments for Kenyans, Tanzanians visiting China

    Safaricom and Vodacom Group‘s mobile money joint venture, M-Pesa Africa, has teamed up with international payment company Thunes to make payments easier for mobile money customers visiting China.

    Through the M-Pesa Super App, the partnership will enable consumers in Kenya and Tanzania to pay Chinese retailers using their M-Pesa wallets.

    Safaricom clients in Kenya and Vodacom customers in Tanzania will soon be able to scan to pay at Chinese businesses without having to convert money, according to a post on X from M-Pesa Africa on Friday.

    Read also: Safaricom launch Ziidi Money Market Fund amid dispute over Mali’s ownership

    The post reads, “We are excited to announce that we are expanding our partnership with @ThunesPayments and in coming months, @SafaricomPLC customers in Kenya and @VodacomTanzania customers in Tanzania will be able to scan to pay at Chinese merchants from their M-PESA Super App.”

    https://x.com/MPESAAfrica/status/1862510475554038029?t=wOCBs46SDh5XqCiJZMzwBw&s=19

    Partnership with Alipay and WeChat to simplify payment services 

    Their M-Pesa accounts will be used to make the payments. According to the company, M-Pesa customers have previously faced difficulties making purchases in China because many retailers only accept local cashless payment systems like Alipay and WeChat Pay.

    “For long, travellers to China have struggled to make payments as millions of businesses in the country only accept local cashless payments,” it added.

    M-Pesa has already partnered with WeChat Pay and Alipay to make remittance payments to China easier.

    It is anticipated that M-Pesa users travelling overseas will have a better payment experience, thanks to the extended partnership with Thunes.

    “With this partnership, customers will not need to make Forex conversions as payments will be made directly from their M-PESA account, providing unparalleled convenience whenever they travel to China,” the company emphasised.

    Read also: Celebrating 24 years: Safaricom’s caravan campaign rewards communities with early Christmas gifts

    Cross-border payment services between Kenya and Ethiopia 

    Customers can now transfer money between Kenya and Ethiopia using Safaricom’s M-Pesa Global service, which was expanded to Ethiopia in October 2024.

    To make cross-border payments, customers in both nations will simply need an M-Pesa wallet.

    Customers of M-Pesa can send and receive money to more than 190 countries in addition to Ethiopia.

    To facilitate remittance flows in Ethiopia, Safaricom, the parent firm of M-Pesa, also inked an international money transfer deal with Onafriq in March 2024.

  • Visa, Thunes to Facilitate Cross border payments

    Visa, Thunes to Facilitate Cross border payments

    Visa has partnered with Thunes, a global payments company based in Singapore, to facilitate cross-border payments to 78 digital wallet providers, allowing access to 1.5 billion digital wallets in 44 countries. With this new partnership, Visa Direct will now be available to 1.5 billion digital wallets, 2 billion accounts, and 3 billion cards.

    Digital wallets are becoming popular as an enabling initial entry point into the financial system for unbanked individuals in developing nations. Due to the fact that a digital wallet does not require users to have a credit card or bank account to add or withdraw money, it may help underprivileged communities access financial services that can improve their quality of life.

    According to Ruben Salazar Genovez, Global Head of Visa Direct, “Visa seeks to develop new alternatives for people and SMBs to engage in the global economy, from an agricultural worker in Bangladesh to a young professional in London who is seeking to transfer money to relatives abroad.” We’re thrilled to collaborate with Thunes to make it easier for people all around the globe to utilize digital wallets as their main means of financial transactions.

    Read also: Finastra and Visa Launch Global BaaS Offering via Visa Direct Integration

    This partnership will allow Thunes’ B2B payments technology to connect with Visa Direct, expanding its international send-to-wallet capabilities beyond the current 78 digital wallet providers. Financial institutions, governments, neobanks, and money transfer operators can take advantage of the new functionality by integrating Visa Direct. This will allow consumers and small businesses to send money to markets in Africa, Asia, and Latin America, where wallets may be the preferred payment method.

    The company dominates across regions with its services

    Peter De Caluwe, CEO of Thunes, expressed the company’s excitement at partnering with Visa, the world’s preeminent payment processor, on this launch. “Through the combined power of Visa’s scale and Thunes’ payment infrastructure, this collaboration has the potential to help develop a new global era for inclusive and accessible global payments.”

    Visa Direct now helps provide access to nearly 7 billion cards, accounts, and digital wallets combined across more than 190 geographies, supporting 160 currencies, connecting to 16 card-based networks, 66 domestic Automated Clearing House (ACH) schemes, 11 Real-Time Payment (RTP) networks, and five payment gateways. With the addition of 1.5 billion digital wallets to its reach, Visa Direct now helps provide access to nearly 7 billion cards, accounts, and digital wallets combined

    About Thunes

    Thunes was launched in 2016, and it is now in partnership with businesses including Uber, Deliveroo, Grab, PayPal, and Remitly to enable payments in 79 different currencies and to 130 different countries. In April 2022.

    The Startup acquired a majority share in Tookitaki, a firm that specializes in anti-money laundering solutions. As a result of this acquisition, Thunes is now able to provide sophisticated compliance, anti-fraud, and anti-money laundering (AML) capabilities.