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Thunes bags new French license for global cross-border payments

By Gloria Methri

April 13, 2023

  • Cross Border Payments
  • Europe
  • FinTech
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Thunes, Cross Border Payments, FinTech, France, SingaporeThunes, a global cross-border payments company headquartered in Singapore, has secured a new Payments Institution licence from the Autorité de Contrôle Prudentiel et de Résolution (ACPR) in France.

The company can now offer global cross-border payment services to non-bank financial institutions in the European Union, including companies without a payments licence.

The latest regulatory approval in France complements Thunes’ existing licence to conduct payment acquisition services for regulated financial institutions in the region. With the new licence, Thunes can accelerate its expansion by onboarding new companies of all sizes in the EU and opening additional avenues for various use cases.

The successful licence approval follows a rigorous application and review process, demonstrating the company’s compliance with AML (anti-money laundering) regulations and standards governing payments operations.

“It is a significant milestone, not only for Thunes but also for our customers. As we are extending our licensing coverage and transforming into a major payment powerhouse connecting Europe, Asia, Africa, the Middle East, and Latin America, we can play a crucial role in helping ambitious European Fintechs and aspiring global innovators expand their reach to new cross-border markets,” said Peter de Caluwe, CEO of Thunes.

“With this latest licence, Thunes is making another leap towards creating alternative payment rails that are superior to the conventional corresponding banking network – an innovation that removes friction for businesses and individuals, and creates growth opportunities for international companies, merchants, marketplaces and payment service providers around the world,” he added.

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