Absa Group Taps Thunes to Power Multicurrency Cross-Border Payments

South African banking group Absa has selected cross-border payments platform Thunes as its strategic multicurrency clearing partner, a move designed to bolster the bank's international transfer capabilities across the African continent and beyond.

Senior leaders from both organisations formalised the expanded relationship at SIBOS 2026 in Miami. The agreement builds on an earlier collaboration that introduced Absa Global Pay, a remittance service enabling customers to send money abroad via the Absa Banking App or Connected Banking web platform.

The partnership connects Absa's pan-African banking network with the Thunes Direct Global Network, an infrastructure designed to route payments beyond traditional bank accounts.

The integration supports transfers to mobile wallets and card networks, alongside continuous liquidity management and compliance oversight. Absa said the multicurrency clearing model will form a cornerstone of its cross-border payments strategy, delivering faster settlement, improved transparency, and expanded routing options for customers.

Under the broadened arrangement, Thunes will support Absa's cross-border payment operations in additional African markets and on key global payment corridors. The bank views the multicurrency approach as critical to scaling its international payments roadmap.

Our initial work with Absa demonstrated the tremendous impact of combining deep local banking relationships with interoperable global payment reach, Thunes Africa senior vice president Daniel Parreira said.

He added that the strategic multicurrency clearing role would supply the digital infrastructure and liquidity needed to link African businesses and consumers with global payment ecosystems.

The Absa partnership comes as Thunes expands its portfolio of business-focused payment solutions. Earlier this year, the company launched a direct-to-workforce cross-border payout tool for organisations paying remote teams, freelancers, and gig workers overseas.

That service is accessible through a single API, reflecting Thunes' strategy of simplifying international payment flows for corporate clients and financial institutions.