Digital banking and payments vendor, CR2 has partnered with Thunes, a global B2B payments company to make seamless payments to more than 130 countries.
Historically, cross-border payments relied on correspondent banking networks and were typically costly for both the sender and receiver.
The partnership allows consumers to send and receive money in a more convenient, affordable, and near real-time manner, directly to their account.
It also provides an enticing opportunity for banks to offer a new and user-friendly payment service generating additional revenue streams, increasing customer engagement, and placing the bank at the heart of the lucrative remittance market.
Through this collaboration, CR2 can help banks offer their customers an enhanced banking experience. Bank customers can send and receive money instantly to bank accounts, mobile wallets, and cash pick-up locations, allowing the recipient to get payments in their own currency.
Through Thunes, banks can access a global payment network with more than 130 countries, 79 local currencies, and multiple payment methods.
Connecting with Thunes is a straightforward deployment via existing integration with CR2’s Digital Banking and Payment Platform, enabling banks to connect easily with minimal time, effort, and resources.
Fintan Byrne, CEO of CR2 said that Cross-border payments represent a tremendous opportunity for revenue growth for banks.
“The use of technology and shifting customer needs have created a new demand for a better customer experience. Banks are expected to deliver payment solutions that are simple and low-cost. We are delighted to work with Thunes to enable our customers to expand payment capabilities, reach more markets, support economic growth and increase financial inclusion.”
Peter De Caluwe, CEO of Thunes indicated that the partnership with CR2 will help bring frictionless and less costly cross-border payments to banks’ customers worldwide.
“Thunes’ goal is to make financial services affordable and accessible to everyone, and this exciting move represents another significant step forward.”