Thunes and MoMo PSB Bring Real-Time Cross-Border Payments to Millions of Nigerians
Millions of Nigerians can now receive money from abroad instantly, thanks to a new alliance between Thunes, the Smart Superhighway to move money around the world, and MoMo PSB, the fintech platform of Nigeria’s largest mobile network operator, MTN. The alliance marks the significant stride attained by MoMo in the expansion of its African and international remittance corridors, allowing MoMo customers to receive funds from key international markets including the USA, UK, Canada, France, Australia, Saudi Arabia, Israel and South Africa.
Through this collaboration, MoMo users can receive international funds instantly and use them for everyday needs such as buying airtime, paying bills, sending money to family and friends, and digital commerce. The collaboration enables seamless, secure, and convenient cross-border payments, supporting financial inclusion and economic participation in Nigeria.
MoMo PSB is a fintech platform and a Member of Thunes’ Direct Global Network, offering a wide range of digital financial services, including payments, e-commerce, insurance, and remittances. As a subsidiary of Nigeria’s largest mobile network operator, MTN, MoMo PSB provides millions of Nigerians with access to digital financial solutions anytime, anywhere.
Thunes’ Direct Global Network enables its members to securely send and receive money across borders in real time by connecting with local wallets, neobanks, and financial institutions.
Thunes’ mission is to enable the next billion end users in emerging markets to access the global economy. By connecting with MoMo PSB’s wallet ecosystem, the collaboration both enhances financial inclusion and strengthens the flow of global money into Nigeria’s rapidly growing digital economy. According to World Bank data, remittance flows into Nigeria rose by 9% in 2024 to reach $20.9 billion.
Aik Boon Tan, Chief Network Officer at Thunes, said: “This alliance makes it possible for Nigerians to receive money from abroad instantly, securely, and conveniently. It’s about allowing more people to access the global economy by giving them the power to manage their finances without friction. For our members, by enabling them to send payments into Nigeria, we are opening up access to a vast and growing market with greater ease through seamless cross-border payments.”
Phrase Lubega, Chief Executive Officer at MoMo PSB, added: “Joining the Thunes Direct Global Network allows us to deliver on our commitment to financial inclusion by bringing global remittances directly to our users’ fingertips. Millions of Nigerians can now receive funds from friends, family, and professional networks abroad instantly and securely. Thanks to Thunes’ agile and robust cross-border payments Network, MoMo PSB can provide a cost-effective, transparent, and reliable way for users to access global financial flows, helping them participate more fully in the digital economy and strengthening financial inclusion across the country.”
The post Thunes and MoMo PSB Bring Real-Time Cross-Border Payments to Millions of Nigerians appeared first on FF News | Fintech Finance.
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