- International - Morocco
- Finance - Telecommunications
MobiCash: A new money transfer service for Moroccans
"MobiCash" a new feature in international money transfer for Moroccans living abroad has been put in place by Maroc Telecom since the beginning of July. Moroccans can now send money via their mobile phones by SMS or Internet in the comfort of their homes.
"By launching the international mobile phone money transfer service, Maroc Telecom provides Moroccans residing abroad with a new, simple, fast and low cost means of money transfer," the phone company revealed in a statement Wednesday.
Although the service, MobiCash, according to the Moroccan company, kicks off in Belgium it is expected to be extended to other parts of the world. No date has been given for the availability of the service from other countries.
Set up by the Morocco Telecom giant, Maroc Telecom, on July 1, the service allows all clients of the Moroccan company resident in Belgium to make money transfers to people with MobiCash accounts. Senders in Belgium must be subscribed to the company’s Ping Ping service in order to take advantage of the service.
According to the company, the transfer operation can either be done via SMS or through the Internet, and MobiCash account holders have automatic access to the service. No account maintenance fees nor formalities are required to use the service.
The transfer is direct and free upon reception on a MobiCash account. For added security, recipients are notified by SMS informing them of the amount of money transferred and the date and identification of the sender.