Thunes, the Singapore-based payment, has on Tuesday announced the expansion of its Direct Global Network with the launch of direct, real-time Pay-to-Bank services into New Zealand.
This expansion enhances Thunes’ cross-border payment capabilities in the Asia-Pacific region, providing Members of the Thunes Direct Global Network with faster and more transparent payment solutions for both consumer and business transactions, the firm said in a statement.
With this launch, users can transfer NZD directly to New Zealand bank accounts. Transactions can be made either through a direct API integration to Thunes or by leveraging existing Swift connectivity.
According to the statement, New Zealand is increasingly focused on upgrading its financial infrastructure to support real-time digital trade and the burgeoning gig economy.
As the nation transitions to a next-generation payments ecosystem, real-time transactions are forecasted to grow at a compound annual growth rate (CAGR) of 21.3 percent through 2027.
“At Thunes, we’re dismantling the legacy friction that creates barriers to the global digital economy. Asia Pacific is where the Thunes story began, so we are especially pleased to be strengthening our reach in a high-growth market like New Zealand,
“Geography should never hinder ambition, and we are proud to be the engine driving financial connectivity, providing the infrastructure that supports and empowers businesses and individuals to benefit from international money movement and participate more fully in the global economy,” said Eugene Chua, Head of Network, Asia Pacific (APAC), at Thunes.
With this expansion, Thunes said it reinforces its position as a leading provider of real-time cross-border payments.
Its Direct Global Network leverages Thunes’ in-house SmartX Treasury System for artificial intelligence (AI)-driven forecasting and real-time liquidity management, and its Fortress Compliance Platform, which benefits from over 50 licenses worldwide.
This ensures every payment is executed with the highest levels of security, compliance, and operational efficiency.