Thunes and MoMo PSB Partner to Boost Nigeria’s Remittance Landscape
Thunes, a global cross-border payments infrastructure provider, has joined forces with MoMo PSB, the fintech arm of Nigerian telecommunications giant MTN, to significantly expand international remittance services within Nigeria. This strategic partnership aims to leverage MoMo PSB’s robust wallet ecosystem to facilitate seamless and efficient receipt of international funds.
Strengthening Financial Inclusion Through Digital Remittances
This collaboration arrives at a crucial time, as World Bank data indicates a 9% increase in remittance inflows to Nigeria in 2024, reaching a substantial $20.9 billion. By integrating with MoMo PSB’s platform, Thunes aims to enhance financial inclusion and bolster the flow of international money into Nigeria’s burgeoning digital economy. This partnership empowers MoMo users to instantly receive funds from abroad and utilize them for various daily transactions, including airtime purchases, bill payments, peer-to-peer transfers, and participation in the digital marketplace.
In conclusion, the alliance between Thunes and MoMo PSB promises to create a more convenient, secure, and accessible cross-border payment experience for Nigerians. This initiative will not only drive financial inclusion but also stimulate economic activity by providing a readily available channel for receiving and utilizing remittances. This is particularly significant in the African tech landscape, where mobile money platforms play a vital role in facilitating financial services for the unbanked population.
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