PayQuicker, a leader in global payouts orchestration, announced a collaboration with Thunes, a global money movement innovator, to expand its e-Wallet payout capabilities worldwide.
The collaboration aims to address the increasing demand for more diverse, and flexible payout methods, especially in emerging markets where e-Wallets serve as essential financial tools.
PayQuicker specializes in providing businesses and individuals with instant and secure global payouts in local currencies for various sectors including accounts payable, affiliate networks, creator economy, direct selling, on-demand economy, and platforms and marketplaces. By integrating broader e-Wallet capabilities in its global payouts solutions suite, PayQuicker enhances its ability to deliver on its core promise of providing smarter, faster, and easier global payouts.
"Digital wallets are transforming the way people manage their finances, especially in regions where traditional banking infrastructure is lacking,” said Paul Beldham, CEO of PayQuicker. “By teaming up with Thunes, we're further enabling millions of people around the world to receive their funds faster and more securely, providing the flexibility of a bank alternative. This not only empowers individuals to better manage their day-to-day finances but also supports the economic growth of emerging markets by facilitating more reliable transactions."
Many global businesses face significant challenges when sending real-time payouts to emerging markets. Traditional cross-border payments can be slow and costly, especially for smaller transactions. With approximately 60% of individuals in emerging markets preferring e-Wallets over traditional banks, e-Wallets function as 'de facto' bank accounts for individuals in many regions, making it crucial for businesses to integrate these options for their payees (McKinsey, 2022).
PayQuicker will offer access to over 120 e-Wallets in key emerging markets, enhancing the speed, ease, and efficiency of financial transactions worldwide. This extensive network includes popular e-Wallets such as GCash in the Philippines, Orange Money and M-Pesa in Africa, Daviplata in Colombia, and Alipay in China. Each of these e-Wallets provide robust transfer capabilities, ensuring that the vast majority of funds are available to payees in real-time.