JPMorgan partners with Thunes to expand cross-border payouts

JPMorgan Chase & Co. is expanding its international payment capabilities through a partnership with global infrastructure provider Thunes. The bank will integrate Thunes' Direct Global Network into its J.P. Morgan Payments Xpedite Remit solutions suite, enabling faster and more direct cross-border transactions across multiple markets.

Through Xpedite Remit, clients can send payouts to local bank accounts and mobile wallets across more than 100 corridors. The service leverages 24/7 real-time payment networks to reach 12 billion accounts and digital wallets through a single connection, featuring principal protection, end-to-end traceability and integrated currency conversion.

The initial rollout supports instant supplier settlements, bill payments and remittances. It targets markets with major remittance flows, including India, Mexico, Bangladesh, Brazil, China, Colombia, Indonesia, Kenya, Nigeria, Pakistan and the Philippines. The expanded rails will also support Chase's Consumer & Community Banking division, which serves roughly 94 million consumer and small-business customers.

The financial terms of the partnership were not disclosed. JPMorgan currently processes payments across more than 200 countries and territories in approximately 120 currencies. Over the past six months, JPMorgan shares have risen 15.5%, slightly behind the industry average increase of 15.9%.