Mobile remittance service to connect Morocco and Belgium

Details: James Barton; Category: Mobile Finance; 07 October 2011; 7907 views

A new remittance corridor has been launched connecting Morocco to Belgium. The initiative has been implemented by Moroccan money transfer specialist Wafacash...

A new remittance corridor has been launched connecting Morocco to Belgium. The initiative has been implemented by Moroccan money transfer specialist Wafacash - a subsidiary of the Attijariwafa Bank Group - and MFS provider BICS, a part of the Belgacom Group.

Through this deal, people living in Belgium will be able to use their mobile phones to remit money instantly and cost effectively to their relatives and friends anywhere in Morocco, where they can collect the money at one of the 500 agent locations of Wafacash.

The remittance transactions to the agents are facilitated through the HomeSend remittance hub, and as well as the Allo Cash platform. HomeSend is a strategic business partnership between BICS and eServGlobal, allowing the real-time transfer of any type of funds, such as airtime or money, and from various fund sources, such as eWallets, bank accounts, credit cards and cash. Allo Cash is the distribution service set up by Wafacash to allow the distribution of remittance transactions coming from mobile phones via HomeSend.

Samira Khamlichi, CEO at Wafacash, said: “We believe that innovation does not stop with inventing and implementing solutions and products that may be essential tomorrow; it becomes more valuable when it comes to connect today's best products with the best potential ones of tomorrow.”