Thunes and MoMo PSB launch instant global transfers to Nigeria

By Vriti Gothi

Thunes has partnered with MoMo Payment Service Bank (MoMo PSB), the FinTech arm of MTN Nigeria, to enable instant cross-border transfers into Nigeria, expanding access to real-time remittances for millions of users. The collaboration allows Nigerians to receive funds from key international corridors, including the United States, United Kingdom, Canada, France, Australia, Saudi Arabia, Israel and South Africa.

The move comes at a time when Nigeria remains one of Africa’s largest remittance markets. According to the World Bank, inflows into the country grew 9% in 2024 to reach $20.9 billion, underscoring the increasing importance of digital channels in facilitating global money movement.

Under the partnership, MoMo customers can receive international transfers directly into their mobile wallets and use the funds for payments, airtime top-ups, peer-to-peer transfers and digital commerce. The integration is supported by Thunes’ Direct Global Network, which connects payments providers, financial institutions, digital wallets and neobanks to enable real-time transfers globally.

Aik Boon Tan, Chief Network Officer at Thunes, said,  “The initiative aims to remove friction in global payments. 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 MoMo PSB, the partnership strengthens its international remittance capabilities and aligns with its digital financial inclusion strategy. Phrase Lubega, CEO of MoMo PSB, 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 abroad instantly and securely, helping them participate more fully in the digital economy.”