What is Thunes? Thunes Review

company

The Thunes team is headquartered in Singapore, with regional offices in London and Miami.

Currently, Thunes covers more than 80 countries and regions, and has established cooperation with more than 9,000 payment companies, including global payment companies such as Western Union, PayPal and M-PESA.

Business Scope

Thunes provides four payment solutions, including P2P remittance processing, corporate large-value payments, B2B payments and digital payment services. It processes more than 300,000 orders every day and more than US$3 billion in orders each year.

Regulation

TransferTo Mobile Financial Services Ltd. (Thunes) is authorised by the Financial Conduct Authority of the United Kingdom as an intermediary payment service provider under the Payment Services Regulations 2017 (Ref. 720167) for Money Remittance and the Execution of Payment Transactions. TransferTo Mobile Financial Services Ltd. is also registered and regulated by HM Revenue and Customs under the Anti-Money Laundering Regulations as a money remitter (Ref. 12807977).

Development History

In September 2018, Singapore-based money transfer platform TransferTo is working with Stellar to provide low-cost cross-border remittance services based on blockchain technology to emerging unbanked customers.

In March 2019, Western Union (NYSE: WU) partnered with Thunes, a cross-border payments network for emerging markets, to enable Western Union customers to send funds directly into mobile wallets around the world.

In May 2019, Thunes (formerly Transfer To), a global cross-border payment platform for emerging markets, announced the completion of a $10 million Series A financing led by GGV Capital. This round of financing will be used to further optimize the Thunes platform and services, accelerate business development in Africa, Asia and Latin America, and build more strategic partnerships to improve payment solutions for businesses and consumers in emerging markets.

References

• 1. Western Union and Thunes collaborate to expand mobile wallet payment capabilities: Sohu [cited on 2019-03-20]