Thunes to speed up expansion plan in China, other markets

Singapore-based Thunes, a cross-border payments firm, announced plans to “significantly accelerate” its expansion in China, Hong Kong, Taiwan, and Macau.

Photo credit: Thunes

The company said its plans will center on forging partnerships with local digital payment companies. The move will allow businesses and consumers to make faster and more affordable transactions to and from the four markets, it said in a statement.

Thunes will expand its team in China, aiming to grow its total headcount by 3x in the next 12 months, and localize all its major functions for better customer service and support.

Thunes also announced it will pilot its virtual account service to connect China-based payments operators to ecommerce buyers in Indonesia. This would make it easier for Chinese cross-border sellers to join Southeast Asia marketplaces and allow them to get paid in their local currency, the firm said.

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“China’s strong standing in digital payments and ecommerce makes it only natural for Thunes to come in and provide the payments infrastructure connecting this dynamic market with the rest of the world,” said Daphne Huang, a senior vice president at Thunes.