UK-based fintech, Paysend has partnered with Damane Cash, a payments institution and subsidiary of Bank of Africa, to enable money transfers to Morocco.
Damane Cash, one of the main Pan African financial groups has its presence registered established in 32 countries. Since 2007, Damane Cash has been operating as a company specialized in money transfer that offers financial cash services through more than 800 branches in the Kingdom of Morocco.
Paysend on its part can send money to over 150 countries worldwide and has attracted more than seven million consumers to its platform.
The partnership will enable communities in Morocco enjoy features such as low fixed fees, upfront exchange rates, faster transfer speeds and the ability to make instant, digital end-to-end international payments. Also, the partnership expectedly will aid Paysend to transform how communities in Morocco manage money online globally.
Alex Bessonov, Group Head of Network Development and Strategic Partnerships at Paysend, said: “This partnership between Damane Cash and Paysend will encourage users all over the globe to connect across borders and send money to support loved ones in Morocco. They will experience more affordable rates and quicker processing speeds when sending important remittances. Through Paysend’s easy-to-use app, automated phone number and text ID verification, users can benefit from a quick and simple onboarding process, allowing them to make transfers through the Paysend platform immediately.”
