Hyperwallet, a global payout service from PayPal, has become the newest member of the Direct Global Network built by cross-border payment infrastructure provider Thunes.
By joining the Thunes network, Hyperwallet can enable its customers to send money in real-time to over 450 million mobile wallets and bank accounts in the Asia Pacific region: Bangladesh, Indonesia, Malaysia, Philippines, South Korea, and Vietnam.
According to a 2024 report by Deloitte on cross-border payments, the Asia Pacific region makes up nearly 70 per cent of global digital wallet spend. Through its latest partnership, 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.
“Welcoming PayPal’s Hyperwallet into our Direct Global Network underscores our ability to provide powerful new capabilities to top-tier fintechs,” explained Floris de Kort, CEO of Thunes.
“With our extensive network that directly, transparently and dependably connects to over seven billion bank accounts and mobile wallets worldwide, combined with our SmartX Treasury System and our Fortress Compliance Platform, Thunes is uniquely positioned to support Hyperwallet to increase its reach in fast-growing geographies to enhance its cross-border payment services.”
Payout preferences for consumers vary widely across the APAC region depending on banking penetration, the proliferation of real-time payment schemes and the usage of digital wallets in each market. Thunes recently released ‘From Cash to QR Codes: Unpacking Southeast Asia’s Diverse Payments Culture‘ exploring the region’s evolving payment landscape and showcasing digital wallet payment adoption rates of over 30 per cent in countries like the Philippines and Indonesia.
In the report, Thunes highlights how the market size of digital wallets grew so drastically between 2018 and 2023.
