Thunes partners with Saudi Arabia-based D360 Bank

Thunes, a global payments company has partnered with Saudi Arabia-based digital bank, D360 Bank. The move is set to facilitate instant cross-border payments for the bank’s customers. D360 Bank’s digital approach and Thunes’ extensive payments infrastructure will be helpful in solving the struggles related to slow, costly, and complex cross-border transactions.

D360 Bank - Thunes Partnership

The partnership between Thunes and D360 Bank is set to facilitate fast and cost-effective business-to-business (B2B) payments and international remittances for the bank’s customers within Saudi Arabia.

At the same time, it will allow D360 mobile app users to transfer funds instantly and safely to recipients in the US, Europe, and larger Middle East region. More destinations are set to be included to this list in the foreseeable future.

Overall, the objective is to create a simple payment experience with upfront cost transparency and confirmation of arrival. This is built upon Thunes’ announcement in August 2022 to advance its capabilities by fostering strong local collaborations with e-wallets service providers, money transfer operators, and banks within Saudi Arabia.

Besides, the payments company is committed to supporting the Middle eastern country’s Vision 2030 with regard to increasing cashless transactions to 70% by 2025.

D360 Bank’s Executive Director, Sadeq Al Thawab stated, “D360 has been purposefully designed to cater to the needs of digitally savvy Saudi residents and SMEs that seek better service and user experience. By leveraging Thunes’ robust and proven payments infrastructure and D360’s innovative digital approach, we aim to address the challenges of slow and complex cross-border transactions…Together, we will establish an accessible, transparent, and user-friendly payment experience for our valued customers”.