Thunes has expanded its collaboration with Siam Commercial Bank (SCB), Thailand’s premier digital bank, to enhance the latter’s international remittance services.
Thunes intends to do that via the SCB EASY app, providing customers with quick, transparent and reliable transfers to 26 countries across 17 currencies.
Simon Nelson, Chief Revenue Officer for the Middle East and South Asia at Thunes, commented: “We are proud to strengthen our alliance with Siam Commercial Bank, a longstanding Member of the Thunes Direct Global Network.
“As the Smart Superhighway to move money around the world, Thunes is trusted by its Members to make payments to over 7 billion mobile wallets and bank accounts in over 130 countries and 80 currencies.
“Our global infrastructure, combined with our Fortress Compliance Platform and SmartX Treasury System, enables SCB customers with transparent, instant and dependable international money transfers.”
The partnership between Thunes and SCB allows users of the SCB EASY app to send money in real-time to key destinations, including Australia, Canada, Cambodia, China, Denmark, Finland, India, Indonesia, Japan, Malaysia, the Philippines, South Korea, Sweden and Vietnam, in local currencies.
Thunes’ Direct Global Network aims to ensure that this extensive reach offers unmatched speed, control, visibility, security and cost efficiency for members making cross-border payments.
Thanawatn Kittisuwan, First Executive Vice President and Head of the Digital Juristic and Payment Unit at Siam Commercial Bank, noted that the international money transfer market is projected to grow by over 13% in 2024 compared to 2023, according to Statista Market Insights, and is expected to keep rising.
Kittisuwan added: “This reflects the behaviour of consumers in the digital age who are increasingly turning to digital platforms for financial transactions. SCB is committed to leveraging modern technology to develop new financial solutions, enhancing our service potential and scope. Our collaboration with Thunes aims to expand our international money transfer service worldwide via the SCB EASY app.
“Customers will receive the full amount transferred without additional fees, and with convenient, fast, and real-time transactions available 24/7. We believe this collaboration will support the demand for international financial transactions and enhance the seamless financial experience for our customers, connecting financial services globally in a new era without borders.”
Earlier this year, Thunes expanded its network by integrating up to 15 global e-wallets and mobile partners, including Alipay+, to streamline cross-border payment acceptance for numerous merchants in Paris.
