One central ecosystem with complete interconnection and operational convenience between banks, digital wallets, and any payment system in existence – this is the ambitious vision of Thunes, a company managing the world’s largest cross-border B2B payment network.
“All the different payment companies in different local markets are not connected to each other,” explained Peter De Caluwe, Executive Chairman and CEO of Thunes. “If you take an example of an African bank who wants to transfer money to a Chinese bank, there are usually correspondent banks in between, if they have it. So…the money moves around three, four, or five parties before it’s arrived. So it’s time-consuming, it’s expensive, and the more touchpoints it has, everybody takes a cut.”