Thunes Expands Real-Time Payment Services to Enhance Commerce
Members of Thunes' Direct Global Network can now offer real-time payments to bank accounts in Morocco, meeting consumer demand for faster cross-border commerce.
Thunes, known as the Smart Superhighway to move money globally, has officially launched its real-time payment services designed to facilitate transactions to bank accounts in Morocco. This initiative is a significant step for members of Thunes' Direct Global Network, allowing them to meet the growing demand for prompt cross-border payment solutions. The introduction of this service supports payout transactions in Moroccan Dirham (MAD) and plays a pivotal role in increasing access to Morocco's rapidly digitizing economy.
Morocco stands out as one of the leading recipients of remittances in Africa, a fact highlighted by recent statistics which indicate that the country received over USD 11.5 billion in remittances within the previous year. This underscores the critical need for efficient and cost-effective solutions to cross-border payments heading into Morocco, as families and businesses depend on these funds.
Recent insights from Thunes' research indicate that speed is a crucial factor for expatriates when selecting a payment method. Up to 65% of those surveyed prioritize quick transactions, emphasizing the importance of this feature. With Thunes' reinforced connections to the Moroccan banking infrastructure, the speed and transparency of operations will significantly outpace traditional systems.
Aik Boon Tan, Chief Network Officer at Thunes, commented on this breakthrough, stating: "Demand for seamless and immediate cross-border payments to North Africa is on the rise. Our commitment to providing reliable alternatives to outdated systems is evident in our new enhancements in Morocco. This marks a pivotal achievement for Thunes and our global members, enabling improved efficiency in cross-border payments for both consumers and businesses."
Chloé Mayenobe, President and COO at Thunes, echoed these sentiments, stating: "The speed associated with cross-border payments has transitioned from being a mere preference to an essential expectation among end-users. By launching direct payment services to Morocco, we empower our members to provide expedited, cost-effective, and transparent transaction solutions in one of Africa's vital economic landscapes."
This latest expansion signifies Thunes' growing role as a leader in the realm of real-time cross-border payments and enhances its capabilities to facilitate payments to Morocco. Moreover, this launch aligns with Thunes' overarching mission to integrate the next billion users into the global financial ecosystem, fostering an inclusive financial environment for individuals seeking to send money to Morocco.
About Thunes:
Thunes is celebrated as a pioneering platform for seamlessly transporting money across the globe. Its distinctive Direct Global Network allows members to transact in real-time, covering over 130 nations and supporting more than 80 currencies. With direct connections to over 7 billion mobile wallets and banking institutions globally, as well as accessibility to 15 billion cards through 320 diverse payment methods, Thunes stands at the forefront of financial technology. Members of the network include major entities from various sectors including Uber, Deliveroo, fintech companies, payment service providers, and traditional banks. Operating from its headquarters in Singapore, Thunes boasts offices in 14 global locations, reinforcing its strategic significance in the international payments arena.
Frequently Asked Questions
What recent service has Thunes launched?
Thunes has launched real-time payment services allowing members to send money to bank accounts in Morocco.
Why is the Moroccan market significant for Thunes?
Morocco is one of Africa's top recipients of remittances, receiving significant funds annually, making it a vital market for cross-border payment services.
How fast are the new payment services by Thunes?
The transactions will be significantly faster than traditional systems due to Thunes' direct connections with the Moroccan banking network.
What are the benefits for Thunes' members?
Members can now offer faster, more transparent, and cost-effective payment options to their customers in Morocco.
How does Thunes aim to enhance financial inclusion?
Thunes' mission includes integrating more users into the global economy, supporting financial access for individuals sending money into Morocco.
