Paysend and Damane Cash partner to enable money transfers to Morocco

By Edlyn Cardoza

Paysend, a UK-based FinTech with over 7 million customers, today announced a partnership with Damane Cash, a payments institution and subsidiary of Bank of Africa, to enable money transfers to Morocco.

With features such as low fixed fees, upfront exchange rates, faster transfer speeds and the ability to make instant, digital end-to-end international payments, this partnership will enable 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.”

Paysend is a next-generation integrated global payment ecosystem, enabling consumers and businesses to pay and send money online anywhere and in any currency. Created in April 2017, Paysend has a global reach, with the clear mission to change how money is moved around the world. Paysend currently supports cross-network operability globally across Mastercard, Visa, China UnionPay and local ACH and payment schemes, providing over 40 payment methods for online SMEs.

BMCE Cash is the payment institution of the Bank of Africa, one of the main Pan African financial groups, established in 32 countries. Since 2007, BMCE Cash has been operating as a company specialising in money transfer that offers financial cash services through more than 800 branches in the Kingdom of Morocco.

Today, BMCE Cash invests heavily in new technologies and thus becomes the technological hub of the Bank Of Africa group for digital transfer services.