MoMo Payment Service Bank (MoMo PSB), the fintech arm of MTN Nigeria, has entered into a strategic partnership with Thunes, a global B2B cross-border payments platform, to boost instant cross-border remittances for Nigerians.
With this collaboration, millions of Nigerians can now receive international funds instantly and securely from key markets, including the USA, UK, Canada, France, Australia, Saudi Arabia, Israel, and South Africa.
By bringing real-time cross-border payments to MoMo’s ecosystem, users can use their incoming funds straight away to pay bills, buy airtime, support family and friends, or shop online.
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Speaking on the collaboration, Chief Executive Officer at MoMo PSB, 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 payment Networks, 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”.
Also commenting, Chief Network Officer at Thunes 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”.
In today’s increasingly connected world, cross-border payments remain a major challenge. Slow transfers, high fees, and complicated banking routes continue to affect millions of people especially those who rely on remittances to support families back home.
Thunes, a global fintech and payments infrastructure provider enables fast, seamless, and secure cross-border payments. Instead of serving individual consumers directly, the fintech powers the backend technology that allows banks, digital wallets, money-transfer operators, and fintech companies to move money across borders efficiently.
Through a single API, businesses can connect to Thunes and instantly enable international payments for their customers without building their own global infrastructure.
Thunes operates what it calls a Direct Global Network, a vast ecosystem of interconnected financial institutions, mobile money operators, banks, payment processors, and digital wallets worldwide. This global network currently spans; 130+ countries, 80+ currencies, Billions of connected mobile wallets and bank accounts, and Multiple payment methods including wallets, bank transfers, cash pickups, and more.
With MoMo PSB’s partnership with Thunes, it will bring about a major transformation in how Nigerians receive international payments. This partnership comes at a time when Nigeria is experiencing rising remittance inflows. According to the World Bank, the country received $20.9 billion in remittances in 2024, marking a 9% increase.
By leveraging Thunes’ direct global payment network, the need for multiple intermediaries is reduced, resulting in cheaper cross-border transfers. Notably, this is a significant win for migrant workers and anyone sending money to Nigeria.
Beyond individual users, this collaboration signals Nigeria’s integration into the global fintech ecosystem, encouraging faster adoption of innovative payment solutions and enhancing the country’s digital payment infrastructure.