Mashreq has begun rolling out real-time transfers to mobile wallets in multiple regions following a new collaboration with Thunes. The arrangement connects the bank to mobile money services across parts of Asia, Africa, and Europe, using Thunes’ cross-border infrastructure to support faster and lower-cost transfers for retail customers.
The service is initially limited to around 30 of Mashreq’s busiest remittance corridors, with plans to expand coverage as technical integrations progress. Bank officials said the institution’s expansion across the Middle East and North Africa has increased demand for more direct payout options, particularly in markets where mobile wallets represent a primary financial tool for migrant workers and underbanked users.
Expansion of digital transfer capabilities
Industry reports frequently highlight the UAE’s central role in global remittances, with outward transfers projected to continue rising over the next several years. Market analysts note that fast population growth among expatriate communities, alongside greater adoption of digital finance applications, has driven demand for quicker settlement times and more predictable fees.
A representative from Mashreq expressed that the new connection to Thunes’ network would allow customers to send money instantly to dozens of additional mobile wallet destinations. The official added that global mobile wallet usage is expected to increase significantly and argued that providing direct access to these services is important for customers who rely on digital channels to support families abroad.
Thunes described the bank’s integration as a step that widens the network’s presence in the Middle East. According to company officials, the partnership aligns with its goal of simplifying international transfers by enabling financial institutions to connect to multiple payout partners through a single platform. The same officials said the collaboration aims to streamline cross-border money movement and support the role of real-time payments in everyday transactions.
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