Thunes has teamed up with WeChat Pay HK, a Hong Kong dollar-denominated e-wallet, to enhance cross-border money transfer services.

This collaboration allows users of WeChat Pay HK in Hong Kong to send funds globally in real time and enjoy faster and more affordable international remittances, enhancing the ease of sending money abroad.

Instant and Affordable Remittances

Thunes’ Direct Global Network is utilized by WeChat Pay HK to facilitate immediate outbound money transfers to billions of global endpoints. This partnership strengthens the existing collaboration between Thunes and Tencent, the parent company of WeChat Pay HK. Since 2022, when Thunes partnered with Tencent Financial Technology, a fintech division of Tencent, the network has supported fast payments to users in mainland China.

Using the Direct Global Network, WeChat Pay HK offers real-time and affordable money transfers across various regions such as Southeast Asia, Europe, and Australia. This is particularly beneficial for expatriates who frequently send money back home. According to Thunes research, 65% of expats prioritize speed in choosing a payment method, highlighting the importance of fast transfers. Additionally, Statista projects that outbound remittances from Hong Kong are expected to reach USD 1.1 billion by year-end with an annual growth rate of 5%, reaching USD 1.45 billion by 2030.

Thunes expressed optimism about this partnership, stating it will simplify the remittance process for millions of users and ensure straightforward and cost-effective cross-border transfers at any time. This alliance exemplifies Thunes’ commitment to providing instant global transfer services to popular brands, bridging connections between individuals across different markets and making international money transfers more accessible.