Assahafa.com
Al Barid Bank and Taptap Send have signed a strategic partnership to enhance international money transfer services to Morocco. The agreement enables Moroccans living in Europe, North America, Australia, the United Kingdom, and the United Arab Emirates to send funds directly through the Taptap Send application.
Recipients can receive transfers in real-time through Al Barid Bank and Barid Cash networks without any reception fees. The funds are available for withdrawal at nearly 3,500 Al Barid Bank and Barid Cash branches across Morocco, including rural areas.
Barid Cash branches operate with extended hours six days a week to better serve customers. The digital solution offers simplicity, speed, and free reception for users supporting their families in Morocco.
“This digital innovative solution proposed by Taptap Send stands out for its ease of use, speed, and free reception, perfectly meeting the expectations of Moroccans worldwide wishing to support their families with complete confidence and transparency,” according to the partnership announcement.
The collaboration strengthens Al Barid Bank’s territorial network coverage across Morocco. It aligns with the bank’s vision based on proximity, inclusivity, and citizenship by providing secure, accessible, and technologically advanced transfer solutions.
Al Barid Bank has demonstrated strong financial performance in the first quarter of 2025. The bank’s net banking income increased by 63.5% to reach MAD 1.21 billion ($121 million).
This growth stemmed from market activities performance, which progressed by 168.6%, and core business activities through improved interest margin and commission margin, rising 13.8% and 1.4% respectively.
The bank’s gross operating result reached MAD 823.5 million ($82.35 million), showing annual growth of 121.4%. The operating coefficient improved by 18.48 points to 33.4%. First quarter 2025 concluded with net income of MAD 442.6 million ($44.26 million), representing annual growth of 118.3%.
Taptap Send previously introduced direct bank transfers to Morocco in April 2024. The fintech company partnered with local banks, including Bank of Africa, Attijariwafa Bank, CIH Bank, Banque Populaire, and CFG Bank.
The service requires only the recipient’s bank account details, with funds typically available within 24 to 48 hours depending on the bank.
“The process is simple: you just need to have the recipient’s bank account details in Morocco to transfer funds via our application. These funds are generally available within 24 to 48 hours, depending on the banks,” Soufiane Marhraoui, director of Taptap Send Morocco, explained at the time.
The new Al Barid Bank partnership expands Taptap Send’s existing services in Morocco. Previously, the application allowed recipients to collect funds through CashPlus and Wafacash agencies using cash collection services.
Source: Morocco word news
