The partnership connects Absa’s extensive Pan-African footprint directly to Thunes’ global network, which currently spans 140 countries and supports over 220 payment methods. By shifting to a multi-rail clearing model, the bank intends to bypass traditional limitations, enabling payouts to mobile wallets and cards with 24/7 liquidity. This expansion addresses common friction points in African cross-border trade, including transparency and currency choice.
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Absa and Thunes Expand Clearing Partnership Across Africa
Absa Group has appointed global payments provider Thunes as its strategic multicurrency clearing partner, aiming to accelerate cross-border transaction speeds across the continent. The agreement follows the successful rollout of their Absa Global Pay solution in South Africa and seeks to integrate banking infrastructure with broader international payment networks.
Richard Southey, managing executive for Payments as a Service at Absa CIB, noted that the move represents a natural evolution in the group’s effort to provide more intuitive financial services. For Thunes, the deal serves as a validation of its digital infrastructure, which aims to bridge the gap between local banking relationships and global ecosystems. Leaders from both organizations formalized the agreement during the SIBOS 2026 conference in Miami, signaling a long-term commitment to digitizing the continent's payment architecture.
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