Thunes has introduced quicker and more transparent payment services in mainland China through a partnership with UnionPay International (UPI).

This collaboration facilitates the direct connection of Thunes’ Direct Global Network to UnionPay’s infrastructure, enhancing support for the UnionPay MoneyExpress remittance solution. Consequently, Thunes’ members—such as neobanks, applications, and digital wallets—will gain easier access to UnionPay’s extensive user base across 79 Chinese banks, including Industrial and Commercial Bank of China, Agricultural Bank of China, and Bank of China.

Facilitating Instant Money Transfers to China

Given that China is the second-largest global economy, sending money into the country can be challenging due to complex procedures, hidden fees, and the necessity for recipients to manually declare funds. Thunes seeks to address these issues by establishing a direct link and providing a straightforward Pay-to-Card experience where transactions are credited in real-time or within 12 hours.

Thunes’ members will have access to a localized payment process for international transfers to mainland China, with locked-in exchange rates from the outset. This ensures that funds reach UnionPay debit cards as Renminbi (RMB) without any manual intervention. Utilizing UnionPay MoneyExpress, Thunes’ cross-border remittance strategy, this partnership provides a secure and efficient means of transferring funds into China.

This integration guarantees that users benefit from upfront foreign exchange rates and swift settlements with responsibility and reliability. Establishing this connection with UPI will significantly alter Thunes’ Direct Global Network, offering broader access, higher speed, and direct-to-card pathways to an important economy without the obstacles and intricacies of traditional cross-border payments.

Members worldwide can provide their customers with a domestic-like experience for UnionPay cardholders, ensuring that sending money to mainland China is simple and convenient.