Co-op Bank ventures into global money transfer deal
By Standard Reporter | December 17th 2020
Co-operative Bank has partnered with Thunes, a cross-border payment provider, to launch a global money transfer service dubbed Co-opRemit.
The service will allow real-time money transfers, particularly within Africa, allowing Co-op Bank customers to move funds at affordable rates.
The deal will see Co-op Bank customers send money to a foreign bank account or mobile number. “We are delighted to support Co-op Bank in their drive to increase and improve cross-border payment options for their customers,” said Thunes Chief Executive Peter De Caluwe.
“We look forward to expanding their services with real-time payments globally and empowering the SME landscape in Africa.”
Co-op Bank Director Retail and Business Banking William Ndumia said the cash transfer service will boost SMEs, many of which face remittance challenges.
“With Co-opRemit, SMEs can now look forward to a more efficient trading experience with seamless international payments," he said.
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