Morocco-based telecom operator inwi has partnered with mobile solutions company Comviva to launch a new mobile money service called inwi money in the country.

The new service is powered by Comviva’s mobile money platform, mobiquity Money, which allows customers to save, borrow, transfer and also spend funds.

Users will be able to pay merchants and bills, as well as send or receive money via mobile.

mobiquity Money can be integrated with consumer touch points across banks, billers, merchants and third-party payment systems.

Comviva vice-president and head of MENA region Ramy Moselhy said: “Mobile phones today are not just communication devices; they have become a holistic channel for digital lifestyle. Comviva is making this reality through its mobiquity Money platform that enables service providers to provide digital financial services to consumers through mobile phones.

“In Morocco, we are carrying forward this revolution with inwi through its mobile money service that delivers a seamless and secure financial service on mobile, meeting needs of consumers across segments.”

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The new inwi money service is meant to allow various financial transactions, including person-to-person funds transfer, airtime purchase, bill and merchant payments.

It is accessible through the inwi money mobile application. Customers can instantly send money anywhere and also request money from other users of the service.

Also, customers will be able to recharge or pay the bill of their mobile subscription.

inwi money chairman Ghassane El Machrafi said: “By digitising money transfers and payments we participate to accelerate financial inclusion and to contribute towards the economic development of the country.”