Johannesburg – October 01, 2026 -- Absa Group has selected Thunes as a strategic Multicurrency Clearing partner, expanding a collaboration that links Absa's Pan-African banking footprint to Thunes' Direct Global Network spanning more than 140 countries, 90 currencies, and 220 payment methods.
Deal builds on South Africa's Absa Global Pay launch
The new agreement extends the two companies' prior rollout of Absa Global Pay in South Africa, which combined Absa's banking franchise with Thunes' global payment connectivity and local-market capabilities. The expanded partnership now underpins Absa's broader cross-border payments strategy across African and global markets.
Clearing link enables payouts beyond bank accounts
By connecting directly to Thunes' network, the collaboration allows Absa to route payouts to mobile wallets and card rails, not just bank accounts, with 24/7 liquidity and enterprise-grade compliance built in.
Richard Southey, Managing Executive for Payments as a Service at Absa CIB, said the expanded role lets Absa leverage Thunes' continental network to extend its cross-border offering, giving clients greater currency choice, speed, and cost efficiency.
Thunes positions Africa unit as liquidity backbone for Absa
Daniel Parreira, Senior Vice President for Africa at Thunes, said the partnership provides the digital infrastructure and liquidity needed to connect African businesses and consumers to global payment ecosystems.
Executives from both companies signed the agreement at SIBOS 2026 in Miami.