A significant development in the African fintech landscape has emerged with the collaboration between Thunes and MoMo PSB. This partnership aims to revolutionize cross-border payments for Nigerians, providing them with instant access to funds from various countries. The publication demonstrates positive momentum in the developments.
New Money Transfer Service in Nigeria
Starting this week, users in Nigeria can receive money from family and friends located in the US, UK, Canada, France, Australia, Saudi Arabia, Israel, and South Africa. This service eliminates the need for traditional banking processes, such as waiting in queues or dealing with collection agents, allowing for immediate access to funds.
Immediate Access to Funds
The funds can be utilized right away for various purposes, including:
- purchasing airtime
- paying bills
- engaging in everyday commerce
This innovation not only streamlines the payment process but also significantly enhances financial inclusion for many Nigerians, making it easier for them to manage their finances and access essential services.
In a recent development, Alibaba has introduced a groundbreaking blockchain tokenization approach for international payments, which contrasts with the new cross-border payment service launched by Thunes and MoMo PSB in Nigeria. For more details, see read more.
