By Christabel Airo
The Kenya Co-operative Bank has partnered with cross-border payment provider Thunes to launch an alternative global money transfer solution for the Small and Medium Enterprises.
The new deal will see Co-opRemit streamline the process of real-time money transfers particularly within Africa, allowing Co-op Bank customers to move funds across the world.
Co-opRemit will make it possible for customers to send money directly to a foreign bank account or mobile number at no extra cost beyond the tariff.
Thune Chief Executive Peter De Caluwe said that they are looking forward to expanding the services to real-time and empowering the SMEs.
“We look forward to expanding their services with real-time, reliable, and convenient payments across the world, and empowering the SME landscape in Africa two contributions which are key to driving the region’s growth,” said Peter De Caluwe.
Co-op Bank’s Director Retail and Business Banking William Ndumia said the new deal will help SMEs facing remittance challenges to stem inefficiencies in cross-border payments.