inwi money, a subsidiary of inwi and leading telecom player in mobile money services, has expanded its offering with the launch of an international money transfer service for its “inwi money” customers.
“The launch of this new service is a concrete result of our efforts to diversify the available payment methods in Morocco, to widen financial inclusion to encompass a greater number of Moroccans and to reduce dependency on cash transactions. inwi customers can now receive money from their loved ones abroad quickly and securely”, explains Nicolas Levi, CEO of inwi money.
How does it work? Once the money transfer is authorised by the sender via the WorldRemit platform, the recipient is notified by SMS, and the transferred amount is directly credited to their inwi money account.
This new service is the result of a strategic partnership between inwi money and WorldRemit, a leading provider of online money transfer services, as well as MFS Africa, a leading Pan-African fintech which operates one of the biggest e-payment platforms in Africa.
Contributing to financial inclusion
Awa Gueye, Head of Francophone West & Central Africa & Morocco at WorldRemit, said:
“Our partnership with inwi Money and MFS Africa sparks a great opportunity to widen the reach of our services, contributing to furthering financial inclusion in the North of the African continent. Offering a new way of receiving money into inwi’s wallet, WorldRemit provides an affordable, secure and fast money transfer service. Through this partnership we are able to facilitate access to remittances for Moroccans both at home and in the diaspora, from any one of WorldRemit’s 50+ countries across the globe”.
Contributing to economic growth
Dare Okoudjou, CEO of MFS Africa adds, “Morocco is a key fintech hub in Africa, thanks to its geographical position, economic and cultural influence, and active contribution to the continent’s growth. For many years it has welcomed foreign students and workers from across Africa, for whom money transfer is an essential everyday need. The partnership that we are launching with inwi money today will make this community’s lives easier, as well as for millions of Moroccans who wish to receive transfers from family and friends abroad.”
With this new service, inwi money is expanding its range of value-added services, to great success. A few months after launching, inwi money already has nearly 500,000 customers across Morocco.