CALISTA users will benefit from this tie-up between a global trade platform company with a cross-border payments network for emerging markets.

A global trade platform company, Global eTrade Services (GeTS), has on 4 Nov 2019 announced its partnership with a Singapore-based global cross-border payments network for emerging markets, Thunes, to facilitate better cross-border payments for customers using the global supply chain platform CALISTA.

Currently, more than 20 million transactions are processed annually through CALISTA. The sheer volume of transactions indicates a need to ensure a more transparent, accurate and efficient processing of cross-border payments. The solutions by Thunes enable visibility of payments processed through the platform. Through the Thunes’ payment network, both payer and payee in a transaction through CALISTA can now be updated of the status, including facilitating payments on the same day.

CEO of GeTS Chong Kok Keong, said: “This partnership allows our customers to enhance their payment efficiency and improve the transparency of transactions. This is another initiative to further strengthen CALISTA as the platform of choice for our customers to orchestrate their logistics, compliance and financing requirements for cross border trade.”

Commented Aik-Boon Tan, CCO of Thunes CCO: “This partnership underlines (a) commitment to Singapore and building a highly secure and efficient payment ecosystem that helps to create more opportunities for everyone.”

Thunes’ network enables its partners to move funds in and out of emerging markets, all in real-time, making financial services accessible in more than 80 countries and 60 currencies, and the platform has processed over USD$6bn to date.