Thunes, MoMo PSB to enable instant international money transfers to Nigeria

Thunes and MoMo PSB, the fintech platform of Nigeria’s mobile network operator MTN, have formed a partnership enabling instant international remittances to Nigerian users.

The partnership allows MoMo customers to receive funds from major markets such as Australia, the UK, the US, Canada, France, Saudi Arabia, South Africa, and Israel.

Through this alliance, MoMo users in Nigeria can instantly access global funds and utilise them for everyday transactions, including purchasing airtime, paying bills, sending money to friends and family, and engaging in digital commerce.

MoMo PSB operates as a fintech platform and is a Thunes Direct Global Network member.

The platform is said to offer a broad range of digital financial services, including e-commerce, payments, insurance, and remittances.

MoMo PSB aims to provide Nigerians with digital financial solutions accessible at any time and from any location.

Thunes said that its Direct Global Network allows members to send and receive money in real time across borders by linking with neobanks, local wallets, and financial institutions.

Thunes chief network officer Aik Boon Tan 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.”

By linking with MoMo PSB’s wallet ecosystem, the partnership is expected to improve financial inclusion and bolster the flow of international money into the expanding digital economy of Nigeria.

MoMo PSB CEO Phrase Lubega said: “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.”

"Thunes, MoMo PSB to enable instant international money transfers to Nigeria" was originally created and published by Electronic Payments International, a GlobalData owned brand.

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