WorldRemit partners Wafacash for money transfers to Morocco
Digital money transfer service WorldRemit has partnered with leading Moroccan financial company Wafacash to further support the growing demand for instant remittances and the immediate access of funds in the country.
WorldRemit customers can now send overseas money transfers to be collected in one of the 1620 Wafacash cash pick up locations all over the country, including Marrakesh, Tanger, Tetouan, Salé, Fes, Agadir, Meknes, Oujda, Kenitra, and Nador among others.
Remittances play an important role in Morocco’s economy – considering that over 8 million Moroccan expatriates are currently living abroad. The country received 7% of its GDP in remittances in 2015 according to the World Bank, totaling some $7 billion.
Catherine Wines, co-founder and Executive Director at WorldRemit, comments: “We are very proud to be joining forces with the leading financial partner for money transfers in Morocco. Wafacash’s impressive market penetration and its reputation for excellence and innovation for 26 years guarantees superior customer service for thousands of customers via 1620 Wafacash branches across the country”.
Samira Khamlichi, chief executive of Wafacash adds: “Our partnership with WorldRemit reflects our commitment and continuous investment into international growth and expanding product offerings for our customers. Moroccans can now receive vital remittances from their family members abroad instantly, simply making use of their unique transaction reference number and a valid ID.”
WorldRemit users now send more than half a million money transfers every month.