ABA and Thunes partner to enable instant cross-border transfers to bank accounts


ABA and Thunes 1

Partnership​ with​ one​ of​ Cambodia’s​ biggest​ banks​ sees​ Thunes​ further​ extend​ its​ global​ payout​ network.

Singapore/Cambodia, 13 July 2021 - Thunes,​ a​ leading​ global​ payments​ network,​ today​ announced​ a​ partnership​ with​ ABA​ Bank​ (“ABA”)​ that​ enables​ Cambodians​ overseas​ to​ send​ money​ back​ home​ quicker​ and​ cheaper​ from​ around​ the​ world.

Previously,​ customers​ making​ international​ money​ transfers​ to​ Cambodia​ had​ to​ pay​ high​ fees​ averaging​ close​ to​ 12%​ on​ a​ US$200​ transfer​1 and​ wait​ several​ days​ for​ the​ funds​ to​ reach​ their​ recipient.​ Now,​ powered​ by​ Thunes’​ last-mile​ capabilities​ and​ extensive​ global​ network,​ Cambodians​ living,​ working​ and​ studying​ overseas​ can​ send​ money​ back​ home​ instantly​ and​ at​ more​ competitive​ rates.​ For​ instance,​ a​ migrant​ employed​ in​ Europe​ can​ easily​ transfer​ funds​ to​ a​ family​ member​ back​ home​ in​ Phnom​ Penh​ using​ any​ bank,​ money​ transfer​ operator,​ or​ payment​ service​ provider​ within​ Thunes'​ network,​ and​ the​ money​ would​ reach​ their​ beneficiaries​ instantly.​

In​ a​ further​ boost​ to​ efficiency​ and​ transparency,​ locals​ and​ expats​ in​ Cambodia​ will​ also​ be​ able​ to​ receive​ real​ time​ bank​ account​ transfers​ from​ Thunes’​ extensive​ network​ of​ sending​ partners,​ in​ addition​ to​ cash​ payouts​ already​ made​ available​ through​ Thunes.

“We​ are​ delighted​ to​ offer​ this​ market-leading​ real-time​ payments​ service,​ supporting​ local​ and​ overseas​ Cambodian​ communities​ who​ rely​ on​ fast,​ secure​ transfers​ for​ their​ day-to-day​ needs​ and​ operations.​ Our​ partnership​ with​ ABA​ marks​ an​ important​ milestone​ as​ Thunes​ continues​ to​ improve​ access​ to​ Cambodia,​ one​ of​ the​ world’s​ fastest-growing​ economies,”​ said​ Andrew​ Stewart,​ Global​ Head​ of​ Networks​ at​ Thunes.

Zhiger​ Atchabarov,​ Chief​ International​ Operations​ Officer​ at​ ABA​ Bank,​ commented,​ “At​ ABA,​ we​ are​ committed​ to​ providing​ every​ customer​ with​ fast​ and​ convenient​ access​ to​ funds.​ Therefore,​ we​ praise​ the​ opportunity​ to​ leverage​ the​ speed,​ efficiency​ and​ global​ reach​ of​ Thunes​ to​ serve​ our​ customers’​ needs​ even​ better.​ Accelerating​ digital​ innovation​ and​ value-added​ services​ for​ the​ benefit​ of​ the​ Cambodian​ community​ is​ core​ to​ the​ Bank’s​ vision.”

With​ proven​ expertise​ in​ emerging​ economies,​ this​ latest​ partnership​ with​ ABA​ reinforces​ Thunes’​ focus​ on​ Cambodia​ as​ a​ key​ Asian​ market,​ with​ more​ capabilities​ to​ be​ rolled​ out​ in​ the​ near​ future.​

1WorldBank​ Data,​ 2020.

About​ Thunes
Thunes​ is​ a​ B2B​ company​ that​ powers​ payments​ for​ the​ world’s​ fastest-growing​ businesses.​ Corporates​ and​ financial​ institutions​ are​ able​ to​ move​ funds​ seamlessly,​ securely​ and​ cost-effectively​ with​ Thunes’​ well-established,​ reliable​ and​ far-reaching​ network.​ Thunes​ is​ used​ by​ global​ banks,​ money​ transfer​ operators,​ platforms​ and​ many​ other​ businesses​ to​ make​ payments​ to​ bank​ accounts,​ mobile​ wallets​ and​ cash​ pick-up​ providers​ around​ the​ world.​ Thunes’​ platform​ currently​ connects​ more​ than​ 260​ customers​ and​ network​ partners​ from​ across​ 110​ countries​ to​ send​ and​ receive​ money​ globally.​ Thunes​ is​ headquartered​ in​ Singapore​ with​ regional​ offices​ in​ London,​ Shanghai,​ New​ York,​ Dubai,​ and​ Nairobi.​

For​ more​ information,​ visit​ www.thunes.com