The collaboration will enhance cross-border payment flows between Africa and other regions, enabling faster and more affordable digital payments and supporting international trade across countries.
In an effort to streamline and simplify cross-border transfers and payments across Africa and beyond, Access Africa has formed a partnership with Thunes, a leading global payment infrastructure platform that connects over 130 countries into a single network offering its members seamless, interoperable, and frictionless cross-border payments. The partnership will allow Access Africa to facilitate inbound and outbound cross-border payments in 13 markets: Botswana, Cameroon, Congo DR, Gambia, Ghana, Guinea, Kenya, Mozambique, Nigeria, Rwanda, Sierra Leone, South Africa, and Zambia.
According to Robert Giles, Senior Advisory Retail, “This strategic partnership reinforces Access Africa’s commitment to providing customers and non-customers with access to top-quality remittance services. “Thunes is a cross-border payments network founded in 2016 that enables corporates and financial institutions to move funds seamlessly and provide financial services in emerging markets. Our partnership will significantly expand the reach of Access Africa’s payment and remittance services to over 100 more countries, and expose Thunes to all 60 million+ customers of Access Africa with over 600 branch locations.
Through this partnership, customers of Access Africa (both account and non-account holders) will be able to make simple international payments, as well as receive diaspora inflows in USD from countries in Africa, Americas, APAC, Europe, Greater China, and MENA, in the form of cash or bank deposits.
The partnership between Access Africa’s Payment and Remittance services and Thunes will bring the benefits of modern digital payment technology to the parties involved, addressing the frictions of the traditional bank-based cross-border payment flows, and making payments faster, easier, and more transparent. This collaboration will bring significant improvements to the African Fintech ecosystem and payment infrastructure”. Rob concluded.
“Access Africa has been at the forefront of innovation in the African banking sector, and is one of the largest banks on the continent. We are excited for the future of our partnership with Access Africa as we aim to enhance the connections between Africa and the rest of the world, bringing major improvements to customers who need to make regular cross-border payments to and from African markets,” said Aik Boon Tan, Executive Vice President for Thunes.
Access Africa is a Payment product designed to simplify Global payments by Person to Person, Business to Business, Person to Business, Government to Person, and any other payment activities/flows. It enables efficient and effective transfers including but not limited to school fees payments, merchant payments, e-commerce payments, trade payments, diaspora workers payments, etc. Access Africa corridors include United Kingdom, China, Spain, Turkey, France, Italy, Germany, Cyprus, Norway, Austria, Switzerland, Belgium, India, Hong Kong, Ghana, Gambia, Rwanda, Zambia, Sierra Leone, Kenya, DR Congo, Mozambique, Guinea, Botswana and many more.
About Access Bank
Access Bank is a leading financial institution that serves in various markets through four business segments: Retail, Business, Commercial and Corporate, and has enjoyed what is it arguably Africa’s most successful banking growth trajectory in the last eighteen years, becoming one of Africa’s largest retail banks by customer base and Sub-Saharan Africa’s largest bank by total assets.
Headquartered in Lagos, Nigeria, Access Bank operates through a network of more than 700 branches and service outlets, spanning three continents, 20 countries, and 60+ million customers. The bank has a strong focus on innovation, technology, and customer service and is committed to helping its customers achieve their financial goals. Visit www.accessbankplc.com
Media Contact : M: +2347030161613
Email: ezechinyere.anyanwu@accessbankplc.com
About Thunes
Thunes is a B2B payments company building global infrastructure for the 21st century by enabling seamless, instant and transparent money movement. Its modular capabilities empower its customers to Pay, Accept, Exchange and Comply, closing the gap between payment systems in developed and emerging markets worldwide.
Thunes facilitates payments in 80 currencies across 133 countries, using over 300 payment methods. The company supports the world’s most dynamic businesses, from gig economy giants like Uber and Deliveroo to the super-app Grab to global fintech leaders like PayPal, Remitly, Finastra and Revolut.
Founded in 2016 and headquartered in Singapore, Thunes has offices in 20 locations, including Beijing, Nairobi, London, Paris, Dubai and Barcelona. The company has raised over $200m to date, with the latest round being Series C in July 2023. Its investors include GGV Capital, Helios Investment Partners, Insight Partners, Marshall Wace, Bessemer Venture Partners, Visa, 01Fintech, EDBI, and Future Shape, Checkout.com, and Endeavor Catalyst.
For more information, visit www.thunes.com.
For Thunes: Headland Consultancy | E: thunes@headlandconsultancy.com | M: +44 (0)77 1782 7258 (Drew Salisbury)
