Thunes, the Singapore-based payment, announced Thursday the launch of faster, more reliable, and more transparent payments into China’s mainland following a deepened collaboration with UnionPay International (UPI).
The duo said in a statement that with the new collaboration, Thunes has launched a direct technical connection from its Direct Global Network to UnionPay’s infrastructure, significantly enhancing its existing support for the UnionPay MoneyExpress remittance service.
The direct connection will result in streamlined access to a massive base of UnionPay cardholders across 79 major Chinese banks, including Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China (ABC), Bank of China (BoC), China Construction Bank (CCB), Bank of Communications (BOCOM), China Merchants Bank (CMB) for Thunes’ Members globally including banks, neobanks, super apps, gig economy platforms, digital wallets and money transfer operators.
It is noted that despite being the world’s second-largest economy, sending money to China has traditionally been complex, and hindered by hidden fees and the need for recipients to manually declare funds.
Thunes’ direct connection to UnionPay resolves these frictions.
By connecting directly, the collaboration between UnionPay and Thunes enables a seamless Pay-to-Card experience where transactions are credited in real-time or within 12 hours.
Through its Direct Global Network, Thunes Members are able to access a domestic-style payment journey for international payments to China’s mainland with exchange rates locked in upfront, ensuring funds arrive directly as RMB to UnionPay debit cards in China’s mainland without any manual intervention.
“Establishing a direct connection with UnionPay International is a game-changer for our Direct Global Network,
“This goes beyond access, it represents a high-speed, direct-to-card rail into a leading economy without the friction of traditional cross-border payments,” said Aik Boon Tan, Chief Network Officer at Thunes.
“Our members around the world can offer their customers a truly domestic-like payment experience to a massive base of UnionPay cardholders, ensuring that sending money to China’s mainland is as simple as sending a text message,” he added.
According to the statement, UnionPay MoneyExpress is a cornerstone of UnionPay International’s cross-border remittance strategy, providing a secure and efficient way for funds to reach China’s mainland.
The collaboration with Thunes strengthens the bridge between global financial institutions and Chinese cardholders.
This new integration ensures that the benefits of MoneyExpress, including upfront foreign exchange (FX) rates and rapid settlement, are delivered with maximum reliability to users worldwide, said the statement.