#USA #New York #J.P. Morgan #Thunes #Xpedite Remit

Thunes Teams Up with J.P. Morgan Payments to Accelerate Global Outflows

In today's fast-paced financial landscape, the need for efficient cross-border payment solutions has never been greater. Recognizing this demand, Thunes has partnered with J.P. Morgan Payments to enhance their "Xpedite Remit" service, significantly improving the speed and reliability of global money transfers.

The Power of the Partnership

This collaboration aims to streamline payment processes for customers by utilizing J.P. Morgan's connection to local real-time payment infrastructures and Thunes' extensive "Direct Global Network." With more than 100 payment corridors at their disposal, this union is poised to meet the rising demand for quick, straightforward, and dependable international payments.

Thunes offers a unique advantage by providing instant access to local bank accounts and mobile wallets worldwide, which are accessible in real-time through a single account and API integration. This means that customers can benefit from smooth transactions and receive funds directly in local currency or through seamless currency conversion.

“Clients are looking for easier and faster ways to send money across borders, and we have recognized this trend,” stated Gayathri Vasudev, Global Head of Large Payments and FX at J.P. Morgan Payments. She elaborated that the partnership aims to enhance the capabilities of their cross-border payment services, especially following their recent advancements in SWIFT for retail payment transactions. This synergy places J.P. Morgan at the forefront of supporting clients’ growth in emerging markets while ensuring the smooth process their customers already expect.

As digital payments become increasingly prevalent, the demand for localized payment methods is growing among consumers and businesses alike. Maintaining harmony with these preferences across various markets can present challenges, especially for companies operating internationally.

As Peter De Caluwe, Co-Founder and CEO of Thunes, remarked, the company is excited to welcome J.P. Morgan Payments into its network. Thunes is set to provide bank-level compliance, security, and reliability which are crucial for safely and quickly transferring money on a global scale. Together, they are showcasing how traditional banking infrastructures can integrate with local payment methods to facilitate smoother global trade for all parties involved.

Benefits for Chase Customers

Moreover, the partnership is expected to benefit J.P. Morgan's Consumer and Community Bank. With approximately 94 million personal and small business accounts, the upgraded payment infrastructures are anticipated to facilitate faster payouts. These will also support real-time incoming payments to the U.S., enhancing the overall banking experience for Chase customers.

“In an era where customers increasingly send money across borders, they expect a reliable and speedy process,” commented Ashish Ajmera, Head of Payments at Chase. He noted that these enhancements are a significant stride towards modernizing cross-border payment systems and expanding their comprehensive suite of products and services. This ensures that customers can send money internationally with heightened speed, transparency, and assurance.

Future Prospects

The initial rollout of the enhanced service supports various payment use cases, including immediate supplier payments, invoice settlements, and remittances. This globally available solution will target high-traffic remittance countries like India, Mexico, Bangladesh, Brazil, China, Colombia, Indonesia, Kenya, Nigeria, Pakistan, and the Philippines.

In conclusion, the collaboration between Thunes and J.P. Morgan Payments sets a new standard for cross-border transactions, marking a significant leap forward in addressing customer needs for speed, security, and accessibility in the financial services landscape. Additional insights and details can be accessed through J.P. Morgan Payments' newsroom and Thunes' official website.