learn more & register for Expo

Do you want a free ticket to visit E-commerce Berlin Expo on 5th May 2022? 5 stages of presentations, over 180 exhibitors.

Please, fill in your personal details in the form below

Thunes

Name of the product or service

Cross-border payments

Votes: 59

Product or service description

Thunes provides a cross-border payment network to deliver smarter payment solutions across all business verticals. It does so by facilitating both the payment collection and the payouts of funds and focuses on the emerging markets.

Distinction from the competition

On the Payments Collection side, Thunes offers Merchants, Marketplaces and Payment Service Providers a range of payment options: Virtual Accounts, Alternative Payment Methods, Mobile Wallets, and Buy Now Pay Later options.

One of Thunes’ services, Virtual accounts, allows businesses to collect payments overseas by generating a Bank account number that can be used to allow overseas customers to easily send a bank transfer funds onto a virtual account of the beneficiary. And thanks to the recent acquisition of Limonetik, Thunes now helps merchants accept payments from consumers located in Europe via an increasing number of payment methods (up to 285) with just one API.

Once collected, funds can then be transferred to an extensive number of countries (78) in-real time, and, if needed, can be converted into one of the 41 currencies currently covered by Thunes. Thunes Payouts capabilities currently span across the following use cases: Remittances, Mass Payouts, Platform Payments, and Business Payments.

Product or service innovations

Reprocessing:

The success of a money transfer transaction depends on the success of many different parties involved in a transaction.

For example, if an expat staying in Holland wants to transfer funds successfully to her/his home town in India, the transaction would involve the following parties:

  • Remittor s/he is using to send the money,
  • Thunes as the infrastructure platform,
  • Receiving partner that Thunes works with, and
  • Eventual payer receiving the funds.

Sometimes, due to a surge in the volume of technical issues, a receiving partner might stop ‘responding’ to API calls, or is technically unavailable to process a transaction. In such scenarios Money Transfer Operators would simply find themselves unable to complete the transaction for their customers.

This problem can happen sporadically and can sometimes reach a failure rate of anywhere from 3~5% of the transactions handled by the corridor, resulting in millions in lost revenue opportunity.

Customer case study

This is a backend feature so there is no action required on the client’s side. Previously for unsuccessful transactions the client had to manually send the transaction again, which resulted in additional work.

Positive feedback & testimonials

One innovation that has seen success at Thunes is the ability to retry such transactions at a later time (multiple times) to ensure that the transaction is successfully completed. The initiative improved the quality of service for the end consumers, and overall satisfaction rates.

During the first implementation with an existing customer the feature increased the transaction completion rate from 94.4% to 97.3%.

Website

https://www.thunes.com/


Vote now!

Best Sales Generating Tool

In B2B and B2C, sales are what make the world go round. Therefore, businesses are more interested than ever in innovativ...(more)

Best Customer Communication Tool

Customer satisfaction is now a sought-after currency for companies across the world. The ability to maintain and leverag...(more)

Best Solution for International Expansion

During the last few months, e-commerce has become increasingly challenging in terms of international expansion. As a res...(more)

Best Logistics Solution

Logistics solutions make the idea of e-commerce a reality. It would be impossible to operate without their organized and...(more)

Best Platform / Shop Software

We strive to find true gems in this sea of shop solutions and platforms. This E-commerce Germany Award aims to showcase ...(more)

Best Payment Solution

E-commerce wouldn't exist without payments. Our goal in this category is to recognize innovative solutions that make the...(more)

Best analytics / BI solution

A successful e-commerce strategy is data-driven. With an increase in analytical solutions for e-commerce, we strive to i...(more)

Best Agency

Our goal with this award is to reward the agencies that implement innovative eCommerce strategies and offer unmatched so...(more)

Best IT and Infrastructural Solution

This award recognizes the very best in e-commerce-related infrastructural products, IT innovators, and technological lea...(more)

Best Innovation / New development in E-commerce

This award recognizes the best innovation implemented in the last 2 years. Our goal with this category is to demonstrat...(more)

Best Omnichannel Solution

Omnichannel is no longer a buzzword in 2022: recent events have demonstrated how important online services and digital t...(more)

Best Product Content Creation Tool

Creating some content or assets today isn't difficult, but creating content that can persuade, keep for a longer time, p...(more)

Winners of E-commerce Germany Awards 2021

The 2021 E-commerce Germany Awards were announced during the Ceremony that took place on 2021

learn more & register for Expo

Do you want a free ticket to visit E-commerce Berlin Expo on 5th May 2022? 5 stages of presentations, over 180 exhibitors.

Please, fill in your personal details in the form below

E-commerce Germany Awards 2022

Networking Party & Awards Ceremony

  • 4th May 2022

    Event date

Support

Feel free to contact us regarding our offer. Regards!
Marta Masternak Key Account Manager
awards@ecommerceberlin.com
+49 30 2555 987
  • 4th May 2022

    Event date

  • E-commerce Capitals Sp. z o.o. Sp.k.

    Organizer

  • POLAND, 60‐586 Poznań, ul. Botaniczna 26/2

    Legal address

  • VAT ID PL7792439665

    TIN