Thunes and Papara establish a bilateral partnership to enable cross-border transfers to and from Türkiye

Papara's over 21 million users can send and receive money to and from five continents, further enhancing its cross-border transfer capabilities.

ISTANBUL and SINGAPORE, Nov. 11, 2024 /PRNewswire/ -- Thunes, the Smart Superhighway to move money around the world, today welcomed Papara, Türkiye's leading fintech company, as a new Member of its Direct Global Network, and allies to facilitate cross-border payments to and from Türkiye. This collaboration empowers Papara users in Türkiye, enabling them to send money into 3 billion mobile wallet accounts, 4 billion bank accounts, and 15 billion cards in over 80 currencies to more than 130 countries. The cooperation also enables fast, simple and affordable international money transfers directly to Papara accounts, marking the first time such a service is available in Türkiye.

With over 21 million users, Papara offers comprehensive digital services facilitating various domestic and international financial transactions. The alliance allows Thunes' extensive Direct Global Network Members to send money directly to Papara accounts in real-time, providing a faster, more convenient way to transfer money to Türkiye. With Thunes' in-house SmartX Treasury System and Fortress Compliance Platform, Members of the Network receive unrivaled speed, control, visibility, protection, and cost efficiencies when making real-time payments, globally.

Simon Nelson, Chief Revenue Officer at Thunes said: "It is an honor to welcome Papara to our proprietary Direct Global Network. Papara users in the Republic of Türkiye can send money to Africa, Asia, Europe, the Middle East, and North and South America, supporting Papara in its quest to offer compelling international money transfer services to its users."

Aik Boon Tan, Chief Network Officer at Thunes added: "We are thrilled to partner with Papara to expand our Network's reach into Türkiye. By enabling direct transfers to Papara accounts, we are removing traditional barriers and offering a more efficient service for cross-border payments into Türkiye to Members of our Direct Global Network."

Emre Kenci, CEO at Papara, commented: "Our partnership with Thunes significantly enhances Papara's cross-border payment capabilities, providing our users with a trusted and secure platform for international transfers. Now, millions of Papara users can receive money from around the world directly into their accounts--a major step forward as they continue to send money using our expanding global money transfer service. This alliance enriches our offerings and reaffirms our commitment to delivering innovative financial solutions for our users."

About Thunes:

Thunes is the Smart Superhighway to move money around the world. Thunes' proprietary Direct Global Network allows Members to make payments in real-time in over 130 countries and more than 80 currencies. Thunes' Network connects directly to over 7 billion mobile wallets and bank accounts worldwide, as well as 15 billion cards via more than 320 different payment methods, such as GCash, M-Pesa, Airtel, MTN, Orange, JazzCash, Easypaisa, AliPay, WeChat Pay and many more. Thunes' Direct Global Network differentiates itself through its worldwide reach, in-house SmartX Treasury System and Fortress Compliance Platform, ensuring Members of the Network receive unrivaled speed, control, visibility, protection, and cost efficiencies when making real-time payments, globally. Members of Thunes' Direct Global Network include gig economy giants like Uber and Deliveroo, super-apps like Grab and WeChat, MTOs, fintechs, PSPs and banks. Headquartered in Singapore, Thunes has offices in 15 locations, including Abidjan, Barcelona, Beijing, Dubai, Hong Kong, Johannesburg, London, Manila, Nairobi, Paris, Riyadh, San Francisco, Sao Paulo and Shanghai. For more information, visit: https://www.thunes.com/

About Papara:

Papara is a leading financial technology company based in Turkey. Founded in 2015, Papara is committed to providing fast, simple, affordable, and enjoyable financial services for all. Papara brings an unrivaled range of products and services offering instant and free transfers to users as well as providing a one-stop shop for paying bills, enabling international money transfers, buying insurance, investing in precious metals, and tracking spending habits. In addition, Papara offers Papara Cards that are valid worldwide and online. Papara users who use Papara Cards earn instant cash rewards with the Cashback program for purchases in specific brands and categories. Papara has 21M retail users and 7,000 corporate users, such as Uber and TikTok. Papara has more than 1,000 employees. Papara is listed in the latest KPMG Global Fintech100 and LinkedIn Top Startup Turkey 2022. Papara was awarded "Best Fintech Startup" by VISA and selected the "Best Startups" in the 2022 Finovate Awards organized by Finovate. Papara is listed in CNBC & Statista's World's Top FinTechs of 2024 for the second year in a row. Papara is expanding its products, services, and geographic reach to become the leading challenger fintech in the region. For more information, visit: https://www.papara.com/en

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CONTACT: Flo Holt, Headland, fholt@headlandconsultancy.com // Mathieu Limousi, Chief Marketing Officer, Thunes, mathieu.limousi@thunes.com // Laura King, Headland, +44 (0)78 1032 9390