inwi money Launches International Money Transfer Capability in Partnership With WorldRemit and MFS Africa

Distributed by Business Wire
22nd September 2020

RABAT, Morocco–(BUSINESS WIRE)–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.

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”.

Dare Okoudjou, CEO of MFS Africa adds, “Through our partnership with inwi money, MFS Africa extends its network to Morocco. 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. Today marks an important step in our mission to break down barriers to digital payments.

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.

Sending money to Morocco can now be done quickly and securely to your inwi money wallet, 24/7 via the WorldRemit app or online at www.worldremit.com.

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About inwi money

“Inwi money” is the mobile payment solution of the global digital operator inwi. The mission of inwi money is to play a significant role in financial inclusion in Morocco, by driving transactions through a range of wide-reaching digital payments services. inwi money has a wide range of high added value services and already has more than 500,000 customers.

For more information: www.inwimoney.ma

About WorldRemit

WorldRemit is a leading global payments company. We disrupted an industry previously dominated by offline legacy players by taking international money transfers online – making them safer, faster and lower-cost. We currently send from 50 to 150 countries, operate in 6,500 money transfer corridors worldwide and employ over 1,100 people globally.

On the sending side WorldRemit is 100% digital (cashless), increasing convenience and enhancing security. For those receiving money, the company offers a wide range of options including bank deposit, cash collection, mobile airtime top-up and mobile money.

Backed by Accel, TCV and Leapfrog – WorldRemit’s headquarters are in London, United Kingdom with regional offices in the United States, Canada, Australia, New Zealand, Hong Kong, Singapore, Malaysia, the Philippines, South Africa, Somaliland, Uganda, Kenya, Rwanda, Tanzania, Zimbabwe and Belgium.

For more information, visit www.worldremit.com

About MFS Africa

MFS Africa is a leading Pan-African fintech company, operating the largest digital payments hub on the continent. Connected to over 180 million mobile wallets in Sub-Saharan Africa, MFS Africa offers its partners unparalleled reach for scale across the continent. We allow merchants, banks, mobile operators and money transfer companies to leverage the ubiquity of mobile wallets as a safe, convenient, and cost-effective transaction channel. MFS Africa works in close partnership with players across the ecosystem to bring simple and secure mobile financial services to un- and under-banked customers. For millions of customers in Africa and beyond, we make borders matter less.

For more information: www.mfsafrica.com