Absa and Thunes Strengthen Partnership for Enhanced Cross-Border Payments in Africa
JOHANNESBURG and SINGAPORE, Oct. 1, 2026 – Absa Group, a leading diversified financial services provider in Africa, has announced a new partnership with Thunes, a global payment infrastructure company. This collaboration aims to enhance cross-border payment solutions for Absa’s clients across the continent.
The partnership builds on the recent success of Absa Global Pay, which was launched in South Africa. This service showcased the benefits of merging Absa’s extensive banking network with Thunes’ advanced payment technology. The goal of the expanded partnership is to improve Absa’s ability to facilitate cross-border transactions not only within Africa but also globally.
The Multicurrency Clearing (MCC) initiative is a key part of Absa’s strategy to provide faster, clearer, and more flexible payment options for its customers. By linking Absa’s operations directly to Thunes’ comprehensive network, which operates in over 140 countries and supports 90 currencies and 220 payment methods, the partnership offers smooth payment solutions. This includes not only traditional bank transfers but also payouts to mobile wallets and cards, available 24/7 with robust compliance measures.
Richard Southey, Managing Executive for Payments as a Service at Absa, expressed enthusiasm for the collaboration, stating, “Our deeper relationship with Thunes reflects our dedication to providing innovative financial services. With the success of our Global Pay service in South Africa, we are excited to use Thunes’ vast network to broaden our cross-border payment solutions, offering clients more choices, speed, and cost-effectiveness.”
In agreement, Daniel Parreira, Senior Vice President of Africa at Thunes, emphasized the significance of their partnership. “Our initial collaboration with Absa has shown how powerful it can be to blend strong local banking connections with global payment capabilities. By enhancing our partnership and supporting Absa with Multicurrency Clearing, we’re creating the necessary infrastructure and liquidity to connect African businesses and consumers to international payment systems smoothly.”
To mark this significant development, leaders from both organizations held an official signing ceremony at the SIBOS 2026 conference in Miami.
About Thunes
Thunes provides a global payment network that facilitates the movement of money across borders. For more information, please visit Thunes’ official website.
About Absa Group Limited
Absa Group Limited is a prominent financial services group in Africa, listed on the Johannesburg Stock Exchange. It offers a wide range of products across personal and business banking, investment banking, and insurance services. With a significant presence in several African countries and additional operations in the US and UK, Absa continues to strengthen its commitment to providing comprehensive financial solutions.
For more insights on Absa Group Limited, you can visit their official website.
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