Thunes Leans on Xoom for Broader Worldwide Reach 

Xoom, Thunes, partnership

Global cross-border payments network Thunes on Monday (Oct. 25) said it’s teaming up with PayPal digital remittance service Xoom to allow customers in the U.S. Canada, the U.K. and Europe to send money to mobile wallets across the globe. 

The partnership expands on Thunes’ work with PayPal that started in 2018, when Kenyans were first able to move their money between M-Pesa and PayPal with Thunes as the backbone. Now, Thunes will help Xoom allow payments in the Philippines, Bangladesh, Indonesia, Ghana, Senegal and other countries. 

“We’ve always believed that people should be able to pay each other without hassle and stress, irrespective of their location,” said Tamer El-Emary, COO of Thunes, in the joint announcement. “And since the beginning of the pandemic, the significance of sending money internationally quickly and affordably has increased dramatically. 

“This collaboration is a great example of two companies harnessing the power of technology and innovation to provide access to financial services to people that need it the most, connecting them to their loved ones and creating new opportunities for global entrepreneurs,” he said. 

Related: Thunes, Bank Alfalah Team Up On Real-Time Payments Service In Pakistan 

In August, Thunes partnered with Pakistani retail bank Bank Alfalah to enable real-time cross-border payments to consumers in Pakistan. 

Thunes’ customers can now make affordable real-time payments to all the 57 million Pakistanis with a bank account, including Bank Alfalah’s clients, supporting the basic needs of millions of migrant families across the country. 

Andrew Stewart, global head of networks at Thunes, said the company looks forward to “continuing our collaboration with Bank Alfalah, strengthening the financial ties between Pakistan and the rest of the world, and staying true to our vision: providing accessible, transparent and affordable payments.” 

Saad Ur Rahman Khan, Bank Alfalah’s group head of corporate, investment banking and international business, said the deal reinforces the bank’s commitment to “provide smarter and faster ways of sending remittances to Pakistan using digital innovation.” 

Also read: PayPal Exiting Competitive Indian Payments Market 

In February, PayPal announced it would end domestic payments in India in April, in a move to streamline operations in India’s online payments market. Domestic operations included PayPal’s payments gateway and aggregator services for online merchants and brands.