This partnership enables TrueMoney users to receive remittances from anywhere in the world via Thunes’ global partner network.
TrueMoney has announced a partnership with global cross-border payment company Thunes to expand its remittance services globally, with users in Myanmar to benefit first from the collaboration.
All sending partners of Thunes, which has a global network spans more than 100 countries and in 60 currencies, will soon have access to TrueMoney’s agent network across Southeast Asia. TrueMoney’s cross-border remittance service was previously only available in selected markets via its TrueMoney mobile wallet, or through TrueMoney cash pickup agents.
«This reinforces our mission to provide innovative financial services to all, leading them to better lives. Together, we will focus on innovation, customer experience and instant remittances,» Dale Kim, managing director of International Business at Ascend Money, which operates TrueMoney, said in a statement on Tuesday.
Facilitating Cross-Border Transfers
Founded in 2003, TrueMoney focuses on providing financial services for users including the unbanked across Thailand, Cambodia, Myanmar, Vietnam, Philippines, and Indonesia. The company became a part of Ascend Group in 2014 and also a partner of Ant Financial Services Group since 2016.
Thunes has over 400 partnerships globally and has the largest partner network in emerging markets. The company’s partners include Western Union, Ria Money Transfer, Remitly and other leading financial institutions.
The firm started operations in Singapore in 2019, as part of a wave of new players entering into the newly liberalized Singapore payment market.
