Thunes, a global cross-border payments network, announced that it has partnered with Tencent Financial Technology, Tencent’s fintech arm, becoming the first payment infrastructure partner connecting with it. This collaboration will allow members of Thunes’ global network to send international payments to Weixin users, giving them fast and easy access to the Chinese market.
Weixin, with its international version known as WeChat, facilitates one of China’s most popular payment methods Weixin Pay, with the majority of Weixin and WeChat’s 1.3 Billion users concentrated in China. Now existing and new members of Thunes’ global network can send payments to Weixin users in China, creating additional revenue opportunities for them: from a Chinese engineer in East Africa looking to send money to family back home, to young professionals working in the US wanting to transfer money to their parents in China. Thunes’ partnership with Tencent Financial Technology will make it quicker and simpler to make payments from around the world.
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“China is now seen as a global leader in digital payments and payment innovation, and mobile payments are at the forefront of the evolution. We are excited to bring the ability to connect our global customers with Weixin’s massive consumer base, creating tremendous opportunities for service enhancement and revenue generation for all members in our ecosystem,” said Daphne Huang, SVP APAC, Thunes.
Wenhui Yang, General Manager, Tencent Financial Technology Asia Pacific, said, “We are always looking for better ways to serve our users. So it is only natural for us to partner with a global network like Thunes, making it easier and more affordable for Weixin users to receive money globally. This move boosts the seamless payment experience, and we strive to make cross-border remittance as easy as sending a message.”
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The news follows Thunes’ announcement of plans to ramp up partnerships and accelerate its expansion earlier this year. This collaboration not only gets both companies closer to the borderless payment future, but it also opens up new product innovation and service enhancement possibilities for Thunes’ clients – Fintech players, financial institutions, neobanks and wallet providers across the world.
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