MTN’s MoMo PSB seals deal with Thunes to expand cross-border payments for Nigerians
MoMo Payment Service Bank (MoMo PSB), the fintech platform of Nigeria’s largest mobile network operator, MTN, has inked a strategic partnership with Thunes, a global B2B platform for cross-border payments, to enable its users to receive funds from abroad instantly.
The partnership significantly expands MoMo’s international remittance capabilities, allowing users to receive money from key markets including the USA, UK, Canada, France, Australia, Saudi Arabia, Israel, and South Africa.
This collaboration allows MoMo’s approximately 2.7 million Nigerian users access to international funds in real time, useful for everyday transactions such as buying airtime, paying bills, sending money to family and friends, or engaging in digital commerce.
MoMo PSB, now a member of Thunes’ Direct Global Network, provides a broad range of digital financial services, including payments, e-commerce, insurance, and remittances. As part of Nigeria’s largest mobile network, MoMo PSB also provides millions of Nigerians with convenient, secure, and scalable digital financial solutions.
Thunes’ Direct Global Network connects members to local wallets, neobanks, and financial institutions across borders, enabling real-time transfers in over 130 countries and more than 80 currencies.
Through this partnership, MoMo PSB users can receive remittances quickly and securely, while Thunes strengthens the flow of global money into Nigeria’s rapidly growing digital economy.
According to World Bank data, remittance inflows into Nigeria rose 9% in 2024, reaching $20.9 billion.
“This alliance makes it possible for Nigerians to receive money from abroad instantly, securely, and conveniently,” said Aik Boon Tan, Chief Network Officer at Thunes. “It allows more people to access the global economy, giving them control over their finances while opening a vast and growing market to our network members.”
Phrase Lubega, CEO of MoMo PSB, added, “Joining the Thunes Direct Global Network allows us to deliver on our commitment to financial inclusion by bringing global remittances directly to users’ fingertips. Thunes’ robust cross-border payments network ensures our users can access global financial flows reliably, transparently, and cost-effectively, helping them participate fully in Nigeria’s digital economy.”
Headquartered in Singapore with offices in 14 global locations, Thunes’ network connects over 7 billion wallets, 15 billion cards, and more than 320 payment methods, including GCash, M-Pesa, Airtel, MTN, Orange, JazzCash, and WeChat Pay. Its platform supports gig economy leaders, super-apps, fintechs, PSPs, and banks worldwide.
MTN’s MoMo PSB and Thunes are setting a new standard for real-time international remittances, offering Nigerians instant access to global funds while advancing financial inclusion and economic participation nationwide.
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