Thunes Adds PayPal’s Hyperwallet to Cross-Border Payments Network

Money movement platform Thunes says it has added PayPal’s Hyperwallet to its Direct Global Network.

With this movement, Hyperwallet customers can send money in real time to more than 450 million mobile wallets and bank accounts across Bangladesh, Indonesia, Malaysia, Philippines, South Korea, and Vietnam, Thunes announced Tuesday (Jan. 14).

“With this new alliance, Hyperwallet can help its expansive global merchant base, including some of the world’s best-known ride-hailing super apps, marketplaces and social media platforms, offer customers their preferred method of access to funds,” the company said in a news release.

The release also notes that the Asia-Pacific (APAC) region accounts for nearly 70% of all digital wallet spending worldwide. However, Thunes said, payout preferences vary greatly across APAC depending on banking penetration, the number of real-time payment plans and digital wallet usage in each market.

PYMNTS examined the cross-border payments landscape late last year, writing that the demand for real-time transactions has skyrocketed, driven by the expectations of consumers accustomed to instant gratification in their everyday lives. In 2024, cross-border payments focused on catching up, with innovations in instant payment infrastructure in the spotlight.

“For businesses, instant payments mean improved cash flow, reduced reliance on credit and enhanced supplier relationships,” that report said. “For consumers, they eliminate the frustration of waiting days for funds to clear. As real-time payment networks expand and interconnect, they’re likely to become one of the default mode for cross-border transactions.”

In the end, as PYMNTS CEO Karen Webster noted in an interview last fall, any focus on cross-border payment innovation must be on resolving key frictions: safe, secure and transparent money movement, and optimizing the economics of cross-border transactions.

“In the U.S., real-time payments are becoming vital in the financial ecosystem,” PYMNTS wrote in a separate report last month.

“Historically, the U.S. trailed other regions in adopting real-time payments; however, banks are now leading the charge. First Citizens Bank, for example, integrated the RTP network, allowing customers to receive payments instantly. This system allows money to be securely deposited into savings and checking accounts within seconds, offering an advantage over older methods like automated clearing house (ACH) and wire transfers.”

Backing up this trend, a study by U.S. Bank found that upward of half of all American companies were already using the RTP network and the FedNow® Service for real-time payments.