Thunes Enhances J.P. Morgan Payments' Xpedite Remit for Faster International Transfers
In a significant development for the global payments landscape, Thunes has teamed up with J.P. Morgan Payments to enhance the capabilities of its Xpedite Remit solution. This collaboration aims to streamline cross-border transactions, addressing the increasing demand for efficient and secure international payments. With an emphasis on speed and simplicity, the new solution leverages J.P. Morgan's strong connections to local real-time payment networks alongside Thunes' vast global network.
The integration facilitates swift and easy transfers to bank accounts and mobile wallets across over 100 payment routes. Users of the Xpedite Remit solution can expect features such as capital protection, end-to-end traceability, and rapid transaction times—either in local currencies or through seamless currency conversion—expanding the reach of financial services to an estimated 12 billion mobile wallets and bank accounts worldwide.
Gayathri Vasudev, the global head of High-Value Payments and Foreign Exchange at J.P. Morgan Payments, emphasized the need for businesses to adopt more user-friendly payment methods. She noted, "Our clients are looking for simpler and faster ways to transfer money across borders. By collaborating with Thunes, we can enhance our cross-border capabilities and offer a more streamlined experience for our customers."
As digital payments continue to rise globally, local payment methods are increasingly favored by consumers and businesses for everyday transactions. This shift poses challenges for companies operating in multiple markets, as they must adapt to varying local preferences and regulations.
Peter De Caluwe, co-founder and CEO of Thunes, expressed excitement about welcoming J.P. Morgan Payments to their Direct Global Network. He stated, "Thunes provides the compliance, security, and resilience necessary for safe and rapid money transfers on a global scale. Our partnership demonstrates how traditional banking infrastructure can connect with popular local payment methods to facilitate global commerce across all participants."
This initiative is also set to benefit Chase, J.P. Morgan's community and retail banking division, catering to approximately 94 million individual and small business clients. The upgraded routes for cross-border payments are expected to simplify payment processes and facilitate real-time transactions in the U.S., thereby enhancing the customer experience.
Ashish Ajmera, head of Banking Payments at Chase, noted the growing trend of customers engaging in cross-border transfers as part of their daily activities. He remarked, "These enhancements represent a significant step in our efforts to modernize cross-border payments and broaden the functionalities available across our wide array of products and services. We aim to help our clients send money abroad more quickly, transparently, and confidently."
The initial rollout of this expanded capability supports various payment applications, including instant settlements to suppliers, bill payments, and remittances. It will be available globally, especially in key markets with substantial cross-border remittance flows, such as India, Mexico, Bangladesh, Brazil, China, Colombia, Indonesia, Kenya, Nigeria, Pakistan, and the Philippines.
For more details on this exciting collaboration, visit the J.P. Morgan Payments newsroom and Thunes' official website to explore the full range of capabilities offered through the Xpedite Remit solution. This partnership marks a pivotal moment in evolving the way money moves across borders, combining efficiency with security to meet modern financial needs.
Expanded Cross-Border Payment Capabilities
The integration facilitates swift and easy transfers to bank accounts and mobile wallets across over 100 payment routes. Users of the Xpedite Remit solution can expect features such as capital protection, end-to-end traceability, and rapid transaction times—either in local currencies or through seamless currency conversion—expanding the reach of financial services to an estimated 12 billion mobile wallets and bank accounts worldwide.
Gayathri Vasudev, the global head of High-Value Payments and Foreign Exchange at J.P. Morgan Payments, emphasized the need for businesses to adopt more user-friendly payment methods. She noted, "Our clients are looking for simpler and faster ways to transfer money across borders. By collaborating with Thunes, we can enhance our cross-border capabilities and offer a more streamlined experience for our customers."
Navigating the Digital Payment Surge
As digital payments continue to rise globally, local payment methods are increasingly favored by consumers and businesses for everyday transactions. This shift poses challenges for companies operating in multiple markets, as they must adapt to varying local preferences and regulations.
Peter De Caluwe, co-founder and CEO of Thunes, expressed excitement about welcoming J.P. Morgan Payments to their Direct Global Network. He stated, "Thunes provides the compliance, security, and resilience necessary for safe and rapid money transfers on a global scale. Our partnership demonstrates how traditional banking infrastructure can connect with popular local payment methods to facilitate global commerce across all participants."
This initiative is also set to benefit Chase, J.P. Morgan's community and retail banking division, catering to approximately 94 million individual and small business clients. The upgraded routes for cross-border payments are expected to simplify payment processes and facilitate real-time transactions in the U.S., thereby enhancing the customer experience.
Ashish Ajmera, head of Banking Payments at Chase, noted the growing trend of customers engaging in cross-border transfers as part of their daily activities. He remarked, "These enhancements represent a significant step in our efforts to modernize cross-border payments and broaden the functionalities available across our wide array of products and services. We aim to help our clients send money abroad more quickly, transparently, and confidently."
Addressing Multiple Payment Use Cases
The initial rollout of this expanded capability supports various payment applications, including instant settlements to suppliers, bill payments, and remittances. It will be available globally, especially in key markets with substantial cross-border remittance flows, such as India, Mexico, Bangladesh, Brazil, China, Colombia, Indonesia, Kenya, Nigeria, Pakistan, and the Philippines.
For more details on this exciting collaboration, visit the J.P. Morgan Payments newsroom and Thunes' official website to explore the full range of capabilities offered through the Xpedite Remit solution. This partnership marks a pivotal moment in evolving the way money moves across borders, combining efficiency with security to meet modern financial needs.
Topics Financial Services & Investing）
【About Using Articles】
You can freely use the title and article content by linking to the page where the article is posted.
※ Images cannot be used.
【About Links】
Links are free to use.