Thunes has named Turkish fintech Papara a member of its Direct Global Network to facilitate cross-border payments to and from the country.
Under the agreement, Papara’s customers will be able to send money into three billion mobile wallet accounts, four billion bank accounts and 15 billion cards in over 80 currencies to more than 130 countries.
Simon Nelson, Chief Revenue Officer at Thunes, commented: “It is an honour to welcome Papara to our proprietary Direct Global Network. Papara users in the Republic of Türkiye can send money to Africa, Asia, Europe, the Middle East, and North and South America, supporting Papara in its quest to offer compelling international money transfer services to its users.”
Welcoming Papara to its network, existing members of Thunes Direct Global Network will be able to send money directly to Papara’s account in real-time, aiming to speed up and create a faster way to transfer money to Türkiye.
Aik Boon Tan, Chief Network Officer at Thunes said the firm is thrilled to partner with Papara and to expand its network reach to Türkiye.
Tan added: “By enabling direct transfers to Papara accounts, we are removing traditional barriers and offering a more efficient service for cross-border payments into Türkiye to Members of our Direct Global Network.”
These transactions will be made possible through Thunes’ in-house SmartX Treasury System and Fortress Compliance Platform, which target speed, control, visibility, protection and cost efficiencies.
Emre Kenci, CEO at Papara, commented: “Our partnership with Thunes significantly enhances Papara’s cross-border payment capabilities, providing our users with a trusted and secure platform for international transfers.
“Now, millions of Papara users can receive money from around the world directly into their accounts – a major step forward as they continue to send money using our expanding global money transfer service. This alliance enriches our offerings and reaffirms our commitment to delivering innovative financial solutions for our users.”
Last month, Thunes bolstered its agreement with Thai digital bank Siam Commercial Bank (SCB), a member of the former’s global network. The enhanced deal aims to improve SCB’s international remittance services.
