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More Africa NewsMorocco: Inwi launches Inwi Money

September 5, 2019by myles

On 03 September 2019, mobile phone operator Inwi launched its mobile payment solution called Inwi Money. The company, which thus becomes the first to offer this service in the country, ahead of its competitors Maroc Telecom and Orange in this strategic market segment of mobile finance, has kept its promise made to consumers by Nicolas Levi, the director. General of Wana Money; Inwi’s subsidiary dedicated to Mobile Money; during the MPay Forum held last June in Casablanca.

With the new service, Inwi subscribers can now send and receive money directly from, or to, their mobile. They can also buy phone recharges, in addition to paying various bills. However, payment to merchants is not yet possible. Ditto for the transfer of money to other payment solutions.

For now, the interoperability of payment services is not yet a reality. Despite several press releases on its launch in the past, nothing has come to fruition.

Ghassane El Machrafi, president of Inwi Money said that the company’s objective ”  is to participate in the diversification of payment methods in Morocco, to accelerate the financial inclusion of the largest number of Moroccans and the dematerialization of cash transactions  “.

Source: Agence Ecofin