GLOBAL payments network Thunes is partnering Cambodia's Advanced Bank of Asia (ABA) to enable Cambodians overseas to send money home quicker and cheaper from around the world.

Under the new arrangement, customers making international money transfers to Cambodia can send money back home instantly. Locals and expats in Cambodia can also receive real-time bank account transfers from Thunes' network of sending partners, in addition to cash payouts already made available through Thunes.

Previously, customers making international money transfers to Cambodia had to pay high fees averaging close to 12 per cent on a US$200 transfer and wait several days for the funds to reach their recipient, said Thunes in a press statement on Tuesday.

"We are delighted to offer this market-leading real-time payments service, supporting local and overseas Cambodian communities who rely on fast, secure transfers for their day-to-day needs and operations. Our partnership with ABA marks an important milestone as Thunes continues to improve access to Cambodia, one of the world's fastest-growing economies," said Andrew Stewart, global head of networks at Thunes.

ABA is a private financial institution founded in 1996. It has since become one of the country's top three commercial banks and offers the entire spectrum of services to customer segments covering SMEs, micro-businesses, and individuals.