Thunes has partnered with MoMo PSB, MTN’s fintech platform, to offer real-time cross-border payments to Nigerian consumers.
The alliance allows millions of individuals to receive money from abroad in real-time, marking MoMo’s expansion of its African and international remittance corridors. This enables its customers to receive funds from international markets such as the USA, the UK, Canada, France, Australia, Saudi Arabia, Israel and South Africa.
Real-time cross-border payments in Nigeria
The collaboration aims to enable simple, secure, and convenient international payments, supporting financial inclusion and economic involvement in Nigeria. MoMo PSB is a fintech and a member of Thune’s Direct Global Network, delivering a broad range of digital financial services such as ecommerce, payments, insurance, and remittances.
Being a subsidiary of a popular mobile network operator in Nigeria, MoMo offers Nigerians access to digital financial solutions anytime, anywhere. As part of Thune’s network, the company can securely send and receive money across borders in real time by connecting with local wallets, neobanks, and financial institutions.
Thunes aims to support billions of end users in emerging markets to access the global economy, connecting with MoMo PSB’s wallet ecosystem and improving financial inclusion and money flow into the country. As per World Bank data, remittance flows into Nigeria rose by 9% in 2024, reaching USD 20.9 billion, marking the highest level in five years. Personal remittances remained key in 2024, increasing by 8.9%, while inflows from IMTOs rose by 43.5%. this reflects more engagement with the Nigerian diaspora.
Thunes believes that the collaboration makes it possible for Nigerians to get funds from abroad instantly, securely, and conveniently, allowing more individuals to access the global economy and manage their finances with less friction. For Thunes’ members, this means having the opportunity to send payments to Nigeria and easy access to an emerging market through cross-border solutions.
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