Moroccan mobile operator Inwi announced it will launch new Mobile Money service Wana Money by next September.
Rabat – Mobile operator Inwi has announced that, in September 2019, the company will launch a Mobile Money service called Wana Money.
The manager of Wana Money, Nicolas Levi, disclosed the launch during the MPay Forum held last week in Casablanca, Morocco.
The Inwi representative said that the telecom company looks forward to providing a wide range of mobile financial services for its customers, but also all mobile phone users. He added that the expansion of Inwi’s “network and brand strength” has made these new services possible.
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The telecom company will launch its Mobile Money service in a market where competitors Maroc Telecom and Orange are currently prominent. This means stronger competition in the sector which will contribute to increased financial inclusion in Morocco.
The Central Bank, Bank Al-Maghrib and the National Telecommunications Regulatory Agency, established a program called Mobile Money in November 2018. Bank Al-Maghrib has also granted eleven similar licenses to other companies.
While this program is new to Inwi, it is not the first of its kind for Africa. Mobile company MTN launched its own personal finance service, positioning Ghana as the fastest growing mobile money market in Africa.
The MTN service, called MoMo, is an artificial intelligence service bot allowing customers to manage payments on social media platforms such as WhatsApp, Facebook Messenger, and via SMS.