Oct 3, 2024, Singapore – Tranglo, a leading global cross-border payment provider, has introduced a new transfer method in Morocco, allowing users to send money directly to Moroccan bank accounts.
This addition enhances Tranglo’s existing services, offering customers greater flexibility and convenience.
Morocco is the second-largest remittance recipient in MENA and the third in Africa. There are 6 million Moroccans residing and working abroad, mainly in European countries. In 2023, remittances sent in the country reached USD 11.5 billion, representing 8% of its gross domestic product (GDP).
Complementing our existing cash pickup options, users can now send money directly to bank accounts in Morocco, with recipients receiving transfers in Moroccan dirhams (MAD) in real-time.
Tranglo Group CEO Jacky Lee said: “Introducing bank account transfers in Morocco is a crucial step towards improving financial inclusion and strengthening our footprint in the African market.
“By offering this service, Tranglo continues to lower barriers to financial access and ensure that Moroccans have more options for receiving remittances at competitive rates.”
Tranglo helps financial institutions and businesses pay through Tranglo Connect, its proprietary cross-border payments solution. Tranglo seamlessly integrates payout and partner services, unifying the end-to-end process with direct API access. With Tranglo Connect, companies can make payments to over 80 countries reliably and securely.
About Tranglo
Tranglo is a cross-border payment hub with a proven track record in business payment, foreign remittances and mobile payment solutions. Founded in 2008, we have offices in Kuala Lumpur, Singapore, Jakarta, and London. Our global network spans 100+ countries, 250+ mobile operators, 1,500+ banks/wallets and 60 cash pickup services with thousands of touchpoints. Tranglo is a proud partner of Ripple, the leading enterprise blockchain solutions for global payments. We offer enhanced cross-border payout services with even broader coverage through Ripple Payments. For more information, visit www.tranglo.com or connect via LinkedIn, Twitter or Facebook.