As part of its commitment to promoting financial empowerment, financial independence and inclusivity around the world, TerraPay, a leading global payments infrastructure company, announced its partnership with Attijariwafa Bank, the largest banking group by market capitalization Morocco, known for facilitating real-time, seamless global money transfers direct to bank accounts in Morocco.
This partnership will allow Attijariwafa Bank to leverage TerraPay’s well-established global partner network and receive cross-border payments from various sending partners in 200 countries. Through this collaboration, TerraPay will be able to leverage Attijariwafa Bank’s expertise in person-to-person payments and its strong presence in the region to further expand its network in Morocco.
Morocco is the third largest recipient of remittances in Africa (after Nigeria and Egypt) and is a growing market. Remittances from Moroccan diaspora members reached MAD 93.3 billion ( $9.95B ) at the end of December 2021, compared to MAD 68.18 billion ( $7.27B ) in 2020, an increase of 36. 8% or MAD 25.07 billion ( $2.67 billion).
Bassem Awada, GM MENA and VP Global – Key Partnerships, TerraPay, said of the partnership: “Morocco is a competitive market and has a large remittance diaspora. We are pleased to welcome Attijariwafa Bank as our trusted partner for worldwide instant payments in Morocco. This partnership is a first for TerraPay in Morocco and allows us to further deepen our network and expand TerraPay’s global footprint.”
M. Adnane Driouech, Head of Corporate and International Cash Management at Attijariwafa Bank, added: “We are delighted to be working with TerraPay. Their extensive global payments network, partners and infrastructure will play a crucial role in facilitating instant international money transfers for our customers. Our integration with TerraPay has enabled our customers to receive cross-border payments directly from more than 200 countries in a transparent, secure and instant way.”
More news about Terrapay:
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