Global payment solutions providers Thunes and Ontop streamline international transactions for the remote and freelance workforce, offering instant payouts.
Thunes and Ontop Partner to Revolutionize Cross-Border Payments for Freelancers
In a move set to transform the financial landscape for freelancers and remote workers, Thunes and Ontop have announced a strategic partnership. This collaboration aims to streamline international payments, providing real-time, local-currency payouts in over 150 countries[1][3][5].
Thunes' Direct Global Network is integrated into Ontop's payroll platform, enabling instant, cost-effective cross-border payments at scale. This means freelancers and remote professionals can now receive their earnings in real time, directly into their local bank accounts, eliminating the traditional delays and high fees associated with international transfers[1][3][5].
Key improvements include:
- Speed: Payments that used to take days or longer are now delivered instantly.
- Local Currency Payouts: Recipients get paid in their own currency, reducing currency exchange complications.
- Broad Reach: Access covers a wide range of countries including emerging markets like Costa Rica, India, the Philippines, South Africa, Vietnam, and developed ones like the UK.
- Regulatory Compliance: With Thunes securing Money Transmitter Licenses across all 50 U.S. states, American businesses can legally and efficiently pay global talent.
- Enhanced User Experience: Freelancers enjoy immediate access to their pay, improving financial stability and satisfaction, while businesses can attract and retain top international talent more easily[1][3][5].
This partnership addresses a crucial market need, given that 1.57 billion people worldwide are self-employed and the freelance economy is expanding rapidly. Faster, reliable, and inclusive financial access is becoming foundational for global work in the gig economy[1].
Thunes, headquartered in Singapore, and Ontop, based in the US, believe this collaboration will significantly support Ontop's growth in the US and Latin America. Kyle Rosen, Head of Americas at Thunes, stated that Thunes' capability to deliver instant, cost-effective cross-border payments at scale makes it an ideal solution for managing freelance and remote worker payouts[2].
Thomas McAllister, Chief Financial Services Officer of Ontop, stated that fast, reliable, and inclusive financial access is essential for the future of global work[4]. The collaboration also aims to promote social mobility by enabling skilled freelancers in emerging markets to access and thrive in the global economy, as stated by Rosen[6].
The global freelance platform market is projected to grow by more than 16% annually from 2024 to 2030[7]. Ontop is enhancing its Financial Services offering through this collaboration, further solidifying its position as a global payroll and financial platform[8].
[1] Thunes and Ontop Partnership to Enable Instant, Local-Currency Payouts for Freelancers [2] Thunes and Ontop Collaboration to Improve Lives of Freelancers and Remote Workers [3] Ontop and Thunes Partnership to Streamline Cross-Border Payments [4] Thunes and Ontop Partnership: A Game Changer for Global Work [5] Thunes and Ontop Collaboration to Revolutionize Cross-Border Payments for Freelancers [6] Thunes and Ontop Partnership to Promote Social Mobility for Freelancers in Emerging Markets [7] Global Freelance Platform Market to Grow by More than 16% Annually from 2024 to 2030 [8] Ontop Enhances Financial Services Offering through Partnership with Thunes
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