Thunes has launched its services in Morocco, allowing its members to enable real-time payments to bank accounts in the country.
The rollout supports payouts in MAD and offers Thune’s members greater access to Morocco’s increasingly connected and digitised economy. The country is one of the top receiving countries in Africa, according to AfriDigest. World Bank research shows that the country received over USD 11.5 billion in 2023, reflecting the importance of affordable cross-border payments.
More about the announcement
The demand for real-time cross-border payments into North Africa is increasing, and Thunes is committed to delivering fast and reliable alternatives to legacy systems to contribute to the responsible growth of the industry. The rollout of its Direct Global Network into Morocco signifies a milestone for the company, offering its members the chance to improve the speed of their international customer and business payments. Thunes’ Direct Global Network facilitates access to real-time payouts in local currencies, helping to reach ‘last mile’ delivery in regions with limited banking infrastructure.
As speed is an expectation and key factor for end users when choosing a solution, Thunes’s direct payouts solution offers members the ability to deliver faster, cheaper, and more transparent transactions in Morocco. With its expansion, Thunes reinforces its position in the African market, offering optimised payout features in the region and supporting its mission to include the next billion end users in the global economy. This will foster greater financial inclusion for those seeking to send money in the country.
The initiative comes as Thunes partnered with Ripple to transform cross-border payments globally. The collaboration builds on the two companies’ previous joint venture and aims to further optimise global money movement and expand payout reach in key markets.
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