Being one of the top remittance receivers in Africa, Morocco heavily depends on the speed and reliability of cross-border payment solutions, so Thunes’ real-time payment infrastructure can be a game-changer for many local households.
Thunes, a payment technology provider headquartered in Singapore, has added Morocco to its Global Direct network, allowing its members globally to send money instantly to bank accounts in the country.
Thunes has over 260 corporate customers and network partners that facilitate payments for individuals over their payment infrastructure. For those participating in its Global Direct network, payments can now be made in Moroccan dirhams (MAD), giving businesses and individuals faster access to one of Africa’s key remittance markets.
Morocco is among the continent’s largest recipients of cross-border funds, receiving more than $11.5 billion in 2023, according to the World Bank. Thunes says the new service addresses strong demand for quicker transfers, noting that its own research found 65% of expatriates prioritize speed when choosing a payment provider.
By connecting directly to Moroccan banks, Thunes aims to make transfers not only faster but also more transparent compared to older systems. The company describes this step as part of its wider push to improve cross-border payment options in North Africa.
Thunes executives emphasized that speed has become a baseline expectation in the industry and that this launch supports both businesses and consumers looking for more reliable alternatives.
As the company’s earlier survey revealed, instant cross-border payments are also believed to have the greatest opportunity to benefit from improvements in payment interoperability, which Thunes aims to achieve through numerous partnerships, including those based on blockchain rails.
The expansion to Morocco adds to Thunes’ global footprint, which already enables real-time payments in over 130 countries and across more than 80 currencies through links with mobile wallets, banks, and card networks worldwide.
