Absa and Thunes expand African payments alliance
By the AFREEQUE newsroom, based on Weekendpost
South African banking group Absa has appointed Thunes as its strategic multi-currency clearing partner, expanding cooperation launched with Absa Global Pay. The alliance is intended to facilitate cross-border payments in Africa by connecting Absa’s banking network with Thunes’ international infrastructure, according to the two companies’ announcement.
Absa Group has appointed Thunes as its strategic multi-currency clearing partner for its payment operations in Africa. The expanded alliance is intended to facilitate money transfers between countries across the continent by reducing delays linked to currencies, correspondent banks and clearing systems, Weekendpost reports.
Thunes is a Singapore-based payment network specialising in international transfers. The partnership covers incoming, outgoing and intra-African financial flows handled by financial services group Absa, according to Weekendpost.
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Summary produced with the help of artificial intelligence tools, under AFREEQUE’s editorial responsibility.
