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Thunes partners with D360 to power instant cross border payments

By Leandra Monteiro

May 24, 2023

  • Cross Border Payments
  • D360
  • Digital Transformation
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Thunes, D360 D360 Bank, Saudi Arabia’s new digital bank announced its partnership with Thunes, a global cross-border payment infrastructure platform.

The collaboration will empower D360 customers in Saudi Arabia to make fast and cost-effective B2B business payments and international remittances worldwide.

Additionally, D360 mobile app users will be able to instantly and securely transfer funds to their beneficiaries in Europe, the United States, and the entire Middle East region – with more markets to follow soon. With upfront cost transparency and confirmation of arrival, this partnership aims to create a simple payment experience.

Sadeq Al Thawab, Executive Director at D360 Bank said, “D360 has been purposefully designed to cater to the needs of digitally savvy Saudi residents and SMEs that seek better service and user experience. By leveraging Thunes’ robust and proven payments infrastructure and D360’s innovative digital approach, we aim to address the challenges of slow and complex cross-border transactions, which typically come with high friction and high costs. Together, we will establish an accessible, transparent, and user-friendly payment experience for our valued customers.”

This partnership with D360 builds upon Thunes’ previous announcement to enhance its capabilities by forging strong local partnerships with money transfer operators (MTOs), e-wallets service providers and banks in Saudi Arabia.

Simon Nelson, Senior Vice President at Thunes said, “We are thrilled to join forces with D360 and support their growth and ambitions. By putting together our technology and the strong customer base of our partner, we are empowering individuals and businesses with the tools they need to succeed in the digital age and redefining the way people experience banking and payments in Saudi Arabia and beyond.”

 

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