Morocco’s Attijariwafa Bank partners Thunes for cross-border payments

Attijariwafa Bank, one of the largest banks in Morocco and Africa, has entered into a strategic partnership with global cross-border settlement company Thunes.

Thunes Partner Attijariwafa Bank

According to the two companies, the partnership will allow Morocco’s “about 30 million” bank account owners to receive cross-border inbound payments directly into their accounts.

Thunes is connected to Attijariwafa Bank via Ripple. This allows bank customers to receive payments “in seconds” from around the world via the Thunes network.

Morocco is Africa’s third largest remittance destination after Nigeria and Egypt.

“Morocco is a major force in the North African economy, with GDP of over $ 100 billion and a major financial hub in the region,” said Asma Ben Gamra, Vice President of Network Development at Thunes.

As always, cross-border payments have been a challenge. Customers have had to use inefficient and expensive methods to send payments to Morocco.

Ben Gamra adds that this partnership is “a major improvement for customers who need to make regular cross-border payments.”

Founded in 2016, Thunes is a business-to-business company that allows businesses to send and receive payments worldwide over a single connection.

Thunes currently supports 79 currencies, allows payments to 130 countries, and claims to help accept 300 payment methods. Headquartered in Singapore, with offices in London, Paris, Shanghai, New York, Dubai, Nairobi, Arizona and Barcelona.