Partnership Between Thunes and Mashreq Bank to Enhance Instant Mobile Wallet Transfers
Thunes, a global leader in smart cross-border money movement, has announced a new strategic partnership with Mashreq Bank, one of the UAE’s leading financial institutions, to launch instant transfer services to mobile wallets. This collaboration aims to provide millions of Mashreq customers with faster, more efficient, and secure international money transfers.
The initiative comes as part of Mashreq’s ongoing expansion across the Middle East and North Africa and its broader strategy to accelerate digital transformation in banking services. The partnership with Thunes represents a major step forward in cross-border payment innovation. The service will initially cover Mashreq’s top 30 remittance corridors, with plans to expand further across Asia, Africa, and Europe.
At the heart of this collaboration lies Thunes’ trusted Direct Global Network, which enables direct connections to mobile wallets across key growth markets. Through this network, Mashreq will be able to deliver instant, low-cost international transfers, improving transaction efficiency and enhancing customer experience.
The partnership holds particular importance given the UAE’s position as the world’s second-largest hub for remittances. Outbound money transfers from the UAE are projected to reach $47 billion by 2025, with an expected annual growth rate of 4.7%. By teaming up with Thunes, Mashreq aims to support this growing market and further enhance the speed, transparency, and accessibility of cross-border transactions.
This collaboration also reflects the rising global demand for mobile wallet services, with the number of users expected to surpass five billion worldwide in the coming years. The integration of Thunes’ global network with Mashreq’s digital capabilities will help bridge financial gaps, promote financial inclusion, and strengthen global economic connectivity.
Together, Thunes and Mashreq are redefining the landscape of international payments by leveraging cutting-edge technology to create a more seamless and inclusive financial ecosystem.
The partnership between Thunes and Mashreq Bank marks a significant milestone in the evolution of digital remittances. By combining advanced financial technology with Mashreq’s strong banking infrastructure, the collaboration sets a new standard for instant, secure, and cost-effective cross-border payments. This initiative is expected to reinforce the UAE’s position as a global hub for remittance innovation and support the sustainable growth of international money flows.
