New York, NY (February 13, 2017) -- Transpay, a B2B/B2P cross-border payments platform, today announced that its service offering had expanded to include local bank transfer deposits in Morocco. Transpay clients are now able to send local currency payments to individuals' bank accounts in Moroccan Dirham (MAD).

With one of Africa’s highest internet penetration rates, Morocco is a burgeoning digital market for the freelance, travel and e-commerce industries. The export market for craftwork, valued at more than $41.5 million USD in 2014 according to the Financial Times, continues to grow as sellers leverage online marketplaces offered by Moroccan National Federation of E-commerce (FNEM), as well as private companies.

“The efforts of both the private and public sector are helping to create the necessary infrastructure to grow the digital economy to Morocco,” says Samish Kumar, CEO of Transfast, owner and operator of Transpay. “The addition of dirham payments by Transpay enhances these efforts by enabling a freer flow of funds into Morocco, fostering and supporting entrepreneurial growth.”

Through Transpay, businesses are able to send mass payouts to any bank in Morocco without the high fees and inefficiencies associated with traditional bank wires. Moroccan dirham is now an available payout currency across the Transpay suite of products, including the Mass Pay API.

Since 2012, Transpay's platform and proprietary bank network has enabled businesses to send payouts to recipients and businesses in over 95% of bank accounts worldwide and 60+ currencies. 

 

Send Payouts to Morocco

Do you need to pay contractors, freelancers, vendors or suppliers in Morocco?
Speak to specialist about Transpay's low-cost alternative payout solutions.

LEARN MORE

Article Categories:
Related articles
In The News

Mastercard Further Extends Payment Network with Acquisition of Transfast

  • The acquisition will enable partner banks to service consumers, businesses, governments and merchants effectively and efficiently, allowing them to send and receive...

Transpay Newsroom

Introducing the New Transpay.com: Your Business Destination for Global Payouts

We’re pleased to announce the launch of our revamped and enhanced website, offering a new experience for businesses sending payouts worldwide. We have redesigned the site...

In The News

Hubstaff: How to Pay Independent Contractors & Remote Employees

Editor's Note: This article was originally published on April 16, 2019, on the blog of Hubstaff.com, a company that provides staff monitoring through time-tracking...

Transpay Newsroom

Transpay Publishes Next “Ultimate Guide” to Local Bank Transfers

Latest Installment Explores the Digital Economy’s Dynamic Growth, Significant Role of Payouts Channel.

Subscribe to the latest updates on Newsroom.