British payments firm Paydek has teamed with Thunes, the international payments network, to offer a wider global reach and bolstered payment choices to clients, according to a Monday (Dec. 7) announcement.
Paydek’s infrastructure supports an extensive international base of people and businesses as clients, with handling payments to more than 160 nations. The clients can make payments to workers, vendors and partners in a quick, dependable and cost-effective manner, according to the announcement.
“With the addition of Thunes backing Paydek’s local bank transfers into emerging markets, we are better positioned to offer an enhanced service to our clientele,” Paydek Managing Director Terry Hopkinson said in the announcement.
The collaboration will allow for local currency payments via the large international partner network and strong technology abilities of Thunes, according to the announcement. It is anticipated that over 80 further nations are forecast to become part of the payment network of Paydek after the tie-up with Thunes.
The sizable rise of international coverage will encompass nations throughout Asia, Africa, Latin America and Europe. In one case, a Germany-based online shopping upstart could provide fast and dependable payments to a Bangladesh factory, according to the announcement.
“Through this collaboration, Paydek can benefit from access to Thunes’ global network, and in particular, our strong foothold in emerging markets. This creates new avenues for individuals and businesses to perform cross-border payments quickly and efficiently regardless of where they are, and in real time,” Thunes CEO Peter De Caluwe said in the announcement.
In September, Thunes announced that it notched $60 million in Series B funding. The newest round of funding was meant to power its expansion in Latin America, Asia and Africa. Thunes will use the funding infusion to bring more staff onboard and grow its product offering such as collections from developing markets and corporate payments.
Thunes is based in Singapore and has regional offices in Nairobi, Dubai, New York, Shanghai and London.