Mashreq has started deploying real-time transfers to mobile wallets in several regions after partnering with Thunes. This collaboration links Mashreq to mobile money services across parts of Asia, Africa, and Europe using Thunes’ cross-border infrastructure, enabling faster and more cost-effective transfers for retail customers.

Initially, the service is restricted to approximately 30 of Mashreq’s busiest remittance routes but plans for broader coverage are in place as technical integrations advance. Bank officials highlighted that growing demand for direct payout options has increased across the Middle East and North Africa, especially in areas where mobile wallets serve as a primary financial tool among migrant workers and underbanked individuals.

Enhancing Digital Transfer Options

The UAE plays a pivotal role in global remittances, with outward transfers anticipated to grow over the coming years. Analysts emphasize that rising expatriate populations along with broader adoption of digital finance services have fueled demand for quicker transaction settlements and more transparent fee structures.

A Mashreq official noted that the new connection to Thunes’ network will enable customers to send money swiftly to numerous additional mobile wallet destinations. They further stated that there is a significant projected increase in global mobile wallet usage, making it essential to offer direct access to these services for users who depend on digital channels to support their families abroad.

Thunes viewed the bank’s integration as a milestone that enhances its presence in the Middle East. Company officials indicated that this partnership is part of their mission to simplify international transfers by allowing financial institutions like Mashreq to connect with multiple payout partners through a unified platform. The partnership also aims to facilitate smoother cross-border money movements and underscore the importance of real-time payments in everyday transactions.