Thursday,30 May 2024

Thunes’ Winter: “We want to make global payments as easy as sending a WhatsApp message”

5 min read

James Winter, senior vice president, Europe for global payments provider Thunes, talks about the company’s partnership with banks through a cloud-based API platform to solve the pain points of cross-border payments  

James Winter, Thunes Senior Vice President, Europe described it as not just a global payment provider but a transformative force in the financial sector. He said: “In a nutshell, what Thunes does is accept and pay out money globally, as close to real time as possible.” The company aims to make global payment as easy as sending a WhatsApp message, according to Winter.

He highlighted Thunes’ cloud-based API platform structure, powered by platforms like Amazon Web Services. This technology is the cornerstone of the Thunes business model, focused on addressing the pain points in cross-border payment for businesses. Thunes operates by partnering with banks, fintechs, and payment service providers, combining transparency with the efficiency of next-generation global payments technology.

Winter also touched on Thunes’ funding achievements. He said: “We’ve raised just north of $200 million over three rounds.” The latest round of funding led by British hedge fund Marshall Wace with strategic investors like Visa and EDBI is pivotal in supporting Thunes’ extensive global network that spans 133 countries, and in developing deeper and more varied collection methods in those regions.

Thunes’ strategy also involves a nuanced collaboration with banking networks. Winter described this as akin to a correspondent banking network but with a unique twist. He explained: “We have correspondent banking nodes all around the world connected directly into our stack,” indicating how Thunes maintains a seamless and efficient global payments infrastructure without the need for numerous liquidity-sapping Nostro banking accounts.


Keywords: Global Payments, Cloud-based Api Platform, Fintechs, Cross-border Payments, Funding, Correspondent Banking Network, Liquidity, Nostro Banking Accounts
Institutions: Thunes, Banks, Fintechs, Amazon Web Services, Marshall Wace, Visa, EDBI
Region: Europe
People : James Winter
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