Thunes has expanded its Direct Global Network into Taiwan as it looks to benefit from the country’s high demand for cross-border payments.
Following the expansion, members of Thunes Global Network will be able to provide customers with real-time payout services in the country in both New Taiwan Dollars (TWD) and US Dollars (USD).
Additionally, this agreement includes Thunes’ Pay-by-Banks capabilities, aiming to improve the cross-border payments services of the country. These solutions support all major banks in Taiwan and enable real-time payments to both business and individual bank accounts.
Floris de Kort, CEO at Thunes, said: “Expanding Thunes’ proprietary Direct Global Network with our new payments corridor into Taiwan provides our Members with greater speed, control, visibility, protection, and cost efficiencies for real-time cross-border payments in one of Asia’s most vibrant financial markets.”
A key driver for this deal is the appetite for improved cross-border payments within the country. According to Thunes, Taiwan is a key hub for international trade and finance, with January 2025 data showing Taiwan’s total exports amounted to $38.7bn, representing a 4.4% increase compared to January 2024.
Additionally, the Taiwan Institute of Economic Research’s (TIER) forecast for the country’s 2025 gross domestic product (GDP) growth is 3.42%, citing positive factors such as increasing investments, solid private consumption and stronger exports.
“This expansion underscores our commitment to global reach and industry-leading Quality of Service through direct connections, enabling our members to seamlessly process payments worldwide, with the highest transaction success rates,” de Kort concluded.
While pursuing a truly global strategy covering all corners of the world, Thunes has increased its focus on Asia recently. Last October, the company expanded its deal with Thailand’s Siam Commercial Bank (SCB) to enhance its international remittance services.
The partnership with SCB covers a range of Asian counties, including Cambodia, China, India, Indonesia, Japan, Malaysia, the Philippines, South Korea and Vietnam.
