Global payment technology provider Thunes is partnering with MoMo PSB, the fintech platform of Nigeria’s largest mobile network operator, MTN, to deliver instant, real-time cross-border payments to millions of Nigerians. The alliance significantly expands MoMo’s international remittance corridors, allowing customers to instantly receive funds from major international markets, including the USA, UK, Canada, France, and South Africa.
This collaboration is designed to support financial inclusion and economic participation in Nigeria by connecting MoMo PSB’s expansive wallet ecosystem directly to Thunes’ Direct Global Network. Remittance flows into Nigeria are already substantial, having risen by nine per cent in 2024 to reach $20.9billion.
Instant access to the global economy
Through the integration, MoMo users can receive international funds instantly and utilise them for daily financial needs, such as buying airtime, paying bills, sending money to family and friends, and engaging in digital commerce. This process enables seamless, secure, and convenient cross-border payments, directly strengthening the flow of global money into Nigeria’s digital economy.
Aik Boon Tan, chief network officer at Thunes, said the alliance is about allowing more people to access the global economy by giving them the power to manage their finances without friction. He added that for Thunes’ members, enabling them to send payments into Nigeria opens up access to a vast and growing market with greater ease.
MoMo PSB, a subsidiary of MTN, offers a wide range of digital financial services, including payments, e-commerce, insurance, and remittances.
Driving financial inclusion
The partnership delivers on MoMo PSB’s commitment to financial inclusion by bringing global remittances directly to users’ fingertips.
Phrase Lubega, chief executive officer at MoMo PSB, stated that 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. This instantly accessible liquidity helps users participate more fully in the digital economy and strengthens financial inclusion across the country.
Thunes’ mission is built on enabling the next billion end users in emerging markets to access the global economy. By connecting with MoMo PSB’s wallet ecosystem, the partnership is set to accelerate this mission in one of Africa’s largest remittance markets.
