The partnership will allow TrueMoney users to receive remittances from anywhere in the world, with help of global partner network of Thunes


TrueMoney partners with Thunes to expand remittance services offering. (Credit: NordWood Themes on Unsplash.)

Thailand-based financial technology company TrueMoney has partnered with global cross-border payment services provider Thunes to expand its remittance services across the world.

The partnership is expected to allow TrueMoney users to receive remittances from anywhere in the world, backed by the global partner network of Thunes, operating in more than 100 countries and in 60 currencies.

TrueMoney is a subsidiary of Ascend Money, a privately owned e-commerce company that spun-off from True Corporation.

Ascend Money international business managing director Dale Kim said: “Our partnership with Thunes allows us to expand our global reach and connect our users to customers of Thunes’ partners globally.

“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.”

TrueMoney previously offered cross-border remittance service in select markets

The partnership will be first implemented in Myanmar and all the sending partners of Thunes are expected to be provided with access to TrueMoney’s agent network across Southeast Asia.

The partnership enables Burmese living anywhere in the world to easily and rapidly remit money to any TrueMoney cash pick-up location in Myanmar, as the funds will be converted from USD to Myanmar Kyats.

Before joining forces with Thunes, TrueMoney has been offering cross-border remittance service only in selected markets through its TrueMoney mobile wallet, or TrueMoney cash pick-up agents.

Thunes has more than 400 partnerships around the world, including with Western Union, Ria Money Transfer, Remitly and other leading financial institutions.

Thunes CEO Peter De Caluwe said: “We are delighted to be a partner of TrueMoney and to work with them to expand their ability to receive remittances from all over the world.

“This is aligned with our objective of providing new payment options for our global partners and widen and deepen financial inclusion in Southeast Asia. Our advanced technological capabilities streamline the process of cross-border money transfer, thus resulting in greater speed and operational efficiencies for our partners.”