TrueMoney, a Bangkok-based fintech company, will launch its remittance services outside Thailand in collaboration with Thunes, a Singapore-based cross- border payment company, media reports said. The partnership will pave the way for TrueMoney users to receive remittances globally through Thune’s global partner network which is available in 60 currencies and caters to over 100 countries.
Peter De Caluwe, CEO, Thunes, told the media, “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 widens and deepens 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.”
Previously, TrueMoney provided its remittance services through its mobile wallet to only a few markets. With the partnership, all the sending partners of Thunes will be able to use Truemoney’s agent network.
Founded in 2003, TrueMoney is one of Southeast Asia’s premium companies catering to every part of Indonesia, Myanmar, Vietnam, the Philippines, Cambodia and Thailand. The company’s services are considered to be efficient and reliable.
Furthermore, there are more than 400 partners worldwide under Thune’s business. The company has the largest partner network in emerging markets such as Remitly, Ria Money Transfer and Western Union.
The new partnership marks a positive event in Southeast Asian market as the Covid-19 pandemic has jeopardised many businesses across the region.