The flow of remittances is a critical economic lifeline for millions of people in emerging markets, yet recipients often face delays and high costs. In Nigeria, a country with over $20 billion in annual remittance inflows, improving access to these funds is a powerful driver of financial inclusion and economic participation. A new partnership is addressing this need by leveraging mobile technology to create a faster, more seamless cross-border payment experience for a vast user base.
Thunes has partnered with MoMo PSB, MTN's fintech platform, to enable instant international remittances to Nigeria.
MoMo users can now receive funds instantly from key markets like the USA, UK, Canada, and Saudi Arabia.
Received funds can be used for buying airtime, paying bills, sending money domestically, and digital commerce.
The partnership connects Thunes' Direct Global Network with MoMo's mobile wallet ecosystem.
This aims to enhance financial inclusion and strengthen the flow of global money into Nigeria's digital economy.
The collaboration supports a market where remittances grew 9% in 2024 to reach $20.9 billion.
This strategic alliance connects Thunes' extensive global payments network with the massive local reach of MoMo PSB, a subsidiary of Nigeria's largest mobile network operator, MTN. Through Thunes' Direct Global Network, senders in over a dozen key international markets can now transfer funds that are received instantly into a MoMo mobile wallet. This eliminates the traditional delays associated with cross-border transfers, providing immediate access to funds for everyday financial needs and supporting the rapid growth of Nigeria's digital economy.
The partnership is strategically designed to advance financial inclusion by bringing global financial flows directly to the fingertips of millions of Nigerians. Users who may not have traditional bank accounts can now receive international remittances securely on their mobile devices. Once received, the money is immediately usable within the MoMo ecosystem for a wide range of services, including purchasing airtime, paying utility bills, sending money to family and friends, and engaging in digital commerce. This seamless integration turns a remittance into an immediate tool for economic activity.
The collaboration targets one of Africa's most significant remittance corridors. With remittance flows into Nigeria rising to $20.9 billion, the demand for efficient, cost-effective transfer services is substantial. For Thunes, this partnership opens access to a vast and growing market through a trusted local partner. For MoMo PSB, it represents a major expansion of its international remittance corridors, enhancing its value proposition to users and solidifying its role as a key enabler of digital financial services in the region.
The alliance between Thunes and MoMo PSB marks a significant advancement in the cross-border payments landscape for Nigeria. By enabling instant, secure, and convenient international money transfers directly to mobile wallets, it removes critical friction from a vital economic process. This not only empowers individuals with greater control over their finances but also actively strengthens financial inclusion and fuels participation in the digital economy, demonstrating how strategic partnerships can create tangible, widespread economic value.
About Thunes:
Thunes is the Smart Superhighway to move money around the world. Thunes' proprietary Direct Global Network allows Members to make payments in real-time in over 130 countries and more than 80 currencies.
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