Southeast Asian fintech firm TrueMoney has partnered with Singapore-headquartered cross-border payment company Thunes to expand its money transfer service worldwide.
TrueMoney provides financial services for users in Thailand, Cambodia, Myanmar, Vietnam, Philippines and Indonesia.
Thunes currently operates in more than 100 countries and in 60 currencies. It has more than 400 partnerships, globally.
Instant transfer
Dale Kim, managing director of international business at Ascend Money, the operator of TrueMoney, 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.”
Thunes chief executive Peter De Caluwe added: “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.”
First things first
Myanmar will be the first country to benefit from the partnership.
Users will soon be able to access TrueMoney’s network across southeast Asia.
The companies said: “Today, a Burmese living in the US or anywhere in the world will now be able to remit money reliable, conveniently and quickly to any TrueMoney cash pick-up location in Myanmar that is convenient for the recipient.
“The funds will be instantly converted from US dollars to Myanmar kyats.”
