back Back

Smartcash PSB teams up with Thunes for remittances in Naira

By Delisha Fernandes

October 12, 2023

  • account numbers
  • Central Bank of Nigeria
  • Digital Wallets
Share

Smartcash PSB, Thunes, mobile wallets, naira, Central Bank of Nigeria, account numbers, remittances naira, digital wallets, FinTech news, FinTech AfricaSmartcash Payment Service Bank Limited (Smartcash PSB) has partnered with Thunes, a cross-border payments infrastructure provider, to introduce international remittances in naira to mobile wallets.

This partnership will enable Smartcash PSB’s customers to receive inward remittances from countries worldwide directly into their Smartcash accounts by simply sharing their phone numbers, which also serve as their account numbers. Funds are sent rapidly at no charge to the recipient and can be accessed across the Smartcash agent network.

Muyiwa Ebitanmi, Managing Director, Smartcash PSB, said, “It helps those financially excluded by providing a hassle-free and efficient solution for individuals in the diaspora looking to send money quickly to their loved ones in Nigeria.We are delighted to partner with Thunes on cross-border transfers that bring unprecedented convenience and speed to international remittances, making it easier than ever for Nigerians to enjoy seamless transactions at a global scale via their Smartcash accounts.”

Smartcash PSB was launched in 2022 to help unbanked populations better access banking services and the digital economy.  It’s one of the fastest growing digital wallets providers in the country with tens of millions of account holders.

Asma Ben Gamra, Vice President of Network Development, Middle East and Africa at Thunes, said, “Our partnership with Smartcash PSB aims to simplify transactions for millions of Nigerians in the US, Europe and beyond, making it easier for them to support their families back home. Thunes has deep experience supporting banks and digital wallets to enable cross-border payments seamlessly, transparently and in real-time.”

The Central Bank of Nigeria granted the Payment Service Bank (PSB) license to entities and investors who seek to comply with its policies and obtain its objective, to enhance financial inclusion by increasing access to deposit products, payments and remittance services to individuals, small businesses, low-income households and other financially excluded entities.

Previous Article

October 12, 2023

Orion partners with FinTaar Technologies & bizAmica Software in India

Read More
Next Article

October 12, 2023

Beyon Money launches payment solution with Ottu for merchants

Read More






IBSi Daily News Analysis

UAE, money transfer

June 14, 2024

account numbers

Digital remittances surge as key lifeline amid global economic challenges, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 14, 2024

Doha Bank & Mastercard partner to boost digital payments in Qatar

Read More

June 14, 2024

Paytiko brings its payment management solutions to Dubai, UAE

Read More

June 13, 2024

Flexys partners with Acquired.com for debt collection

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023