Thunes increases Latin America coverage with expansion into Costa Rica

By Leandra Monteiro

Thunes a global cross-border payments company, and Teledolar, a major FinTech player in Central America, announced a partnership that makes payments simple, fast, more transparent and cost-effective for customers and businesses sending money to Costa Rica. The addition of Costa Rica to Thunes’ already established global network, increases its Latin America coverage to 12 countries.

Costa Rica is home to a hotbed of process outsourcing businesses offering telemarketing, call center and technical support. The partnership with Teledolar gives Thunes’ global customers a quicker way to make payouts to the businesses in Costa Rica and fund transfers can be made in real-time to all bank accounts via the local Automated Clearing House (ACH) system.

For example, a US-based software development business will now be able to pay technical support staff in Costa Rica instantly while Costa Rican businesses will have access to global markets, allowing them to receive payments directly from around the world.

“We are thrilled to add Costa Rica to our network through the Teledolar partnership. We’re seeing demand growing rapidly for Latin America and we’re excited to address this opportunity. This addition means we now have coverage in 12 markets in Latin America, enabling millions of people to benefit from faster and more reliable cross-border transactions. Thunes is driving access and affordability of financial services in the world’s fastest growing economies,” said Andrew Stewart, Global Head of Networks, Thunes.

Thunes’ mission is to build a bigger and better payment network that interconnects financial institutions and businesses in developed and developing markets and allows any payment player to transfer money across borders instantly without the need for countless integrations to multiple systems.

“Increasingly, consumers and businesses in Costa Rica are seeking more seamless, efficient and secure ways to receive digital payments from overseas. Teledolar strives to meet the evolving needs of our customers for global wire transfers and payments through this partnership with Thunes. We also plan to extend the new service to our customers in Nicaragua soon,” said Juan Carlos Bedoya, CEO of Teledolar.