J.P. Morgan Payments Expands Global Remittance Service
Businesses gain access to faster cross-border payment capabilities in 100 currencies via the updated Xpedite Remit platform.
Updated on Oct. 26, 2026 in Financial Services
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J.P. Morgan Payments expanded its Xpedite Remit platform in October 2026 by integrating Thunes' Direct Global Network. This update allows operators to send funds across more than 100 currencies directly to accounts and digital wallets.
Why it matters
Financial institutions are increasingly prioritizing high-volume, low-value cross-border transactions to capture the growing base of global gig workers. By simplifying these international payments, firms aim to improve liquidity for freelancers and businesses.
The cross-border payments market is valued at $674.1 billion today, with estimates projecting growth to between $2.18 trillion and $2.52 trillion in the next 8 to 9 years. The sector serves an estimated universe of 154 million to 435 million gig workers worldwide.
The players
J.P. Morgan Payments
A global financial services unit of JPMorgan Chase & Co. that provides treasury, liquidity, and cross-border payment solutions for large-scale operations.
Thunes
A cross-border payments infrastructure provider that maintains a direct global network connecting various payment systems and digital wallets.
ANZ
A major multinational banking and financial services company that provides benchmark data for cross-border transaction speeds.
The details
The integration connects Xpedite Remit to instant payment rails, allowing for rapid settlement times to both bank accounts and digital wallets. While traditional international transfers can face significant delays, recent performance metrics from ANZ show inward transactions completing in about 90 seconds and certain outbound corridors clearing in 40 seconds. This infrastructure enables faster cash flow for firms managing international payroll or vendor settlements.
Timeline
October 2026: J.P. Morgan Payments integrated the Thunes network into Xpedite Remit.
Next 8 to 9 years: Projected growth period for the cross-border payment market.
Market Landscape
The expansion of instant, cross-border payment capabilities follows the pattern established by successful domestic systems like the Brazil PIX payment system and India's UPI. These platforms set the global competitive benchmark for speed, forcing traditional financial institutions to modernize their rails.
Business operators should audit their current cross-border payment providers to determine if they offer integration with instant rails for digital wallets. Prioritizing providers that leverage these networks may reduce transaction settlement times from days to seconds, directly impacting working capital.
The takeaway
The move toward sub-minute settlement for cross-border payments is becoming an industry standard for global firms. Operators should monitor their current bank's transaction clearing speeds and identify whether they are leveraging instant rails for international vendor or contractor payments.
Further reading
For broader trends in payment infrastructure, see the Financial Services section.
Source note: This article includes information reported by Global Finance Magazine.
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