Freelancers and employees working in remote settings will benefit from the new real-time payment infrastructure brought by Thunes and Ontop.
Thunes, a global payments infrastructure company that focuses on cross-border money movement, has partnered with Ontop, a global payroll and compliance platform, to provide freelancers and remote workers globally with real-time access to their earnings.
Ontop users can now get paid instantly in local currency, thanks to Thunes’ Direct Global Network. The new functionality works in key freelance markets such as Costa Rica, India, the Philippines, South Africa, Vietnam, and the UK, removing the delays and hassle of traditional cross-border payments.
The partnership follows Thunes securing Money Transmitter Licenses in all 50 U.S. states earlier this year, which gives the fintech company full legal clearance to process and move money across the entire U.S. market without relying on intermediaries.
For businesses in the US and Latin America, this means faster and more affordable payments that help them grow. For freelancers and remote workers, especially in emerging markets, the fresh collaboration brings quick, secure, and reliable access to their earnings, which can be vital for daily life.
The brand new partnership is addressing a rapidly expanding market. It arrives at a moment when freelance work is experiencing record growth and global hiring is becoming standard practice. According to the World Bank, there are 1.57 billion self-employed individuals worldwide today — nearly half of the global workforce. Furthermore, the freelance platform market is on track to expand by over 16% annually between 2024 and 2030.
Freelancers often face challenges when getting paid, especially in cross-border work settings. KYC, tax, and regulatory requirements can delay payouts. Therefore, payout transfers can take days or even weeks, especially with traditional banking channels. Besides, currency conversion, intermediary bank charges, and platform fees can significantly reduce earnings.
Jointly, Thunes’ U.S. Money Transmitter License and Ontop’s compliance infrastructure help smooth KYC, tax, and regulatory steps. Using local payment rails and avoiding multiple intermediaries, Thunes’ Direct Global Network enables instant local currency payouts to bank accounts, removing the multi-day delays of traditional transfers, while also cutting down on fees and currency conversion losses. Finally, by integrating instant payouts directly into Ontop’s platform, freelancers and employers can manage payments in one place without complicated manual processes.
