Absa Group, one of Africa's diversified financial service providers, has teamed with fintech company Thunes to launch Absa Global Pay, a new digital -first remittance solution.
Absa Global Pay makes cross-border money transfers more affordable for millions of consumers across the continent, according to the financial services firm.
Thunes, a Singapore-based financial technology company, offers cross-border payment infrastructure to financial institutions, enterprises, and payment providers.
Its network allows for transactions between digital wallets, bank accounts, stablecoin wallets, and cash outlets.
Absa stated in a statement that as international remittances become more important in supporting families, education, healthcare, and small businesses, customers are demanding straightforward, transparent, and cost-effective solutions.
To that end, it stated that the Absa-Thunes collaboration addresses this requirement by integrating Absa's pan-African banking presence with Thunes' global network, resulting in a real-time money movement experience.
The bank continued: “Absa Global Pay allows Absa customers to send funds directly from the Absa Banking App or Connected Banking (Absa Online) with instant settlement to 18 countries, with six countries forming part of the first release (UK, Kenya, India, Malawi, Pakistan and Zimbabwe).
“Customers can choose from multiple payout methods — bank accounts, mobile wallets or approved cash pick‑up points — with real‑time notifications and full transaction visibility for added confidence and control.”
Nick Nkosi, managing executive for transactional and deposits at Absa Personal and Private Banking, said: “Remittances remain essential for keeping families supported across borders, and our research shows significant opportunity to unlock more value in this space. Together with Thunes, we are delivering a solution that is simpler, faster and more affordable — empowering customers with choice, transparency and meaningful value.”
Similarly, Simon Nelson, Thunes' chief commercial officer, commented: “This launch is an important milestone in our mission to support the growth of the continent by powering intra-Africa money movement and bringing inclusive financial connectivity to communities across the world.”
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