Enhances Instant Cross-Border Transfers to Saudi Arabia by Thunes
Thunes, a leading provider in real-time cross-border payments, has announced the rollout of its service in Saudi Arabia. This move strengthens Thunes' leadership in the sector and supports greater financial inclusion, enabling millions to participate more fully and easily in the global economy.
The new service aims to provide faster settlement and a smoother experience for pilgrims, as well as overseas businesses managing Hajj and Umrah pilgrimage campaigns. By offering seamless, real-time cross-border payments, these businesses can now pay fees into the Kingdom securely and efficiently.
Aik Boon Tan, Chief Network Officer at Thunes, emphasized the importance of speed in cross-border payments. He stated that Thunes' real-time direct payout capability in Saudi Arabia equips Members to deliver instant, secure, and transparent transfers.
Thunes' launch of real-time payments into the Kingdom provides Members with the tools to meet the growing demand for faster, reliable cross-border payments. Ahmad Yaacoub, VP MENA and Country Head for Saudi Arabia at Thunes, stated that this demand is at an all-time high due to the rapid digital shift in the financial sector.
Research from Thunes' 2025 Report: Money Without Borders indicates that 65% of expatriates view transaction speed as the most critical factor when choosing how to send funds. By connecting directly with the Saudi banking network, Thunes' delivers faster, more cost-efficient, and more transparent transfers compared to traditional payment methods.
The value of money received into the Kingdom is expected to reach US $232 billion in 2025, according to industry data. Thunes' Direct Global Network allows Members to deliver instant payouts in Saudi Riyals (SAR) to bank accounts and wallets in the Kingdom.
The rollout of Thunes' service in Saudi Arabia is part of a broader strategy to expand its global network and improve cross-border payment infrastructure. This move is in line with Saudi Arabia's financial sector transformation under Vision 2030.
Thunes' partnerships include gig economy companies like Uber and Deliveroo, super-apps such as Grab and WeChat Pay, and various other wallets like GCash, M-Pesa, Airtel, MTN, Orange, JazzCash, and Easypaisa. The banks and wallet providers belonging to Thunes' Direct Global Network that now offer fast, direct, and immediate transfers in Saudi Riyals in Saudi Arabia include barq, among other fintechs, payment service providers, and banks connected through Thunes' network.
The service is expected to contribute to the growth in transaction volume and digital adoption in Saudi Arabia. By facilitating faster and more efficient cross-border payments, Thunes' service is poised to play a significant role in the Kingdom's digital economy.
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