Wafacash, subsidiary of the Attijariwafa Bank Group and Moroccan leader in international money transfers, and BICS, provider of mobile financial services, announced that they have launched a new remittance corridor between Belgium and Morocco.
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 500 agents of Wafacash are facilitated through the HomeSend remittance hub, and Wafacash’ 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.
“The aim of BICS with HomeSend is clearly to enable mobile operators to offer international money transfer. To help build the necessary ecosystem, HomeSend connects to the established money transfer organizations like Wafacash,” said Frédéric Schepens, SVP Mobile Financial Services at BICS.