Visa & Thunes unite to widen cross-border payments in Asia & Africa, boosting digital payment adopti

As a cross-border payment solution provider, Thunes' network has facilitated payments between Visa, digital wallets, and banks. Visa will leverage Thunes' network to provide payment convenience to over 108 different types of bank accounts and digital wallets covering several countries and regions in Asia and Africa, including key markets such as Kenya, the Philippines, Indonesia, and Pakistan. Additionally, by integrating Visa Direct's one-click card functionality, Visa will be able to achieve seamless payments between eligible Visa cards and accounts in more than 190 countries and regions.

Chris Newkirk, Visa's Head of Global Business and Monetary Affairs, stated: "At Visa, we are committed to building infrastructure that enables our partners to transfer funds seamlessly. Our collaboration with Thunes will help us expand our coverage and endpoints, thereby better serving our customers."

According to Visa's forecasts, by 2026, more than 60% of the global population will adopt digital wallets, highlighting the significant growth potential of the digital payments market. To seize this market opportunity, Visa is dedicated to strengthening its partnership with Thunes, making payments between digital wallets and bank accounts more convenient and reliable.

With the growing popularity of digital wallets, more financial institutions are partnering with Visa to integrate cross-border payment functionality into digital wallets. This trend of collaboration indicates an increasing recognition of mobile wallet interoperability and the critical importance of optimized payment mechanisms for both consumers and businesses.

This cooperation is a continuation of a long-term partnership between Visa and Thunes, aimed at promoting innovation and accessibility in cross-border payments. Floris de Kort, CEO of Thunes, expressed: "Our partnership with Visa goes beyond financial collaboration; it's about the interaction between networks, corridors, and payment methods. As payments digitize, we see a huge, untapped opportunity for B2B cross-border payments. Thunes is excited to work with Visa to realize these new payment flows."