THE FIRST ELECTRONIC PAYMENT CENTER EMERGES IN THE NATIONAL MARKET

In 1991, the former Wafabank established the Kingdom's first electronic payment center under the name "Wafa Monétique," now known as Wafacash. At the time, its main mission was to manage the issuance and acceptance of bank cards issued by specialized organizations such as Visa and Mastercard.

In 1997, Wafacash launched Morocco’s first Visa Electron card, pioneering and expanding the use of bank cards across the country.

WESTERN UNION ENTERS MOROCCO

In 1995, Wafacash introduced, for the first time in Morocco, a fast money transfer solution through its partnership with Western Union, the global leader in instant international transfers. Anyone, whether they have a bank account or not, could receive funds from over 200 countries within minutes.

The signing of this partnership opened up new opportunities for Wafacash, fostering innovation in money transfer services and paving the way for future challenges and successes. Wafacash became Western Union’s first Maghreb partner and one of the first African countries to sign with the global leader.

WAFACASH DIVERSIFIES ITS PRODUCT RANGE WITH "CASH EXPRESS" AND "MANUAL EXCHANGE"

In 2001, Wafacash launched two new services to meet its customers' needs:

Cash Express, a fast domestic money transfer service that allows users to send and receive funds instantly across the country.
Manual Exchange, enabling the exchange of dirhams for foreign currencies and vice versa.

BIRTH OF THE WAFACASH BRAND

In 2003, Wafa Monétique rebranded itself and became Wafacash.

In 2006, Wafacash adopted a new graphic charter and visual identity, reflecting its affiliation with the Attijariwafa Bank Group—a new signature that strengthened the Wafacash brand.

Our main competitive advantage lies in the quality of service provided daily by the men and women who make up our team. This simplicity embodies a new mindset in the fields of money and cash services.

WAFACASH AND WAFASALAF, A POWERFUL ALLIANCE

In 2006, Wafacash and Wafasalaf formed a partnership for the marketing and distribution of "Salafcash", a loan offered by Wafasalaf and disbursed in cash through the Wafacash network.

WAFACASH LAUNCHES THE FLOUSSY CARD

In 2008, Wafacash diversified its services by introducing the prepaid "Floussy" card—a true electronic wallet not linked to a bank account. This card offers a wide range of options tailored to meet the needs and expectations of its customers.

HISSAB BIKHIR, A NEW BANK ACCOUNT AT AN AFFORDABLE PRICE

In 2009, a first in Morocco: the Attijariwafa Bank Group launched "Hissab Bikhir" through the Wafacash network. This unique banking service in Morocco is designed for unbanked citizens, offering them multiple benefits and financial solutions.

A PARTNERSHIP WITH MONEYGRAM, THE WORLD’S SECOND-LARGEST INTERNATIONAL MONEY TRANSFER OPERATOR

In 2010, Wafacash strengthened its position in the international money transfer segment by providing its customers with a new, secure, fast, and accessible way to send and receive international transfers. The partnership with global leader MoneyGram now enables Wafacash to offer its clients a reliable and efficient solution for receiving international money transfers.

WAFACASH CELEBRATES ITS TWENTIETH ANNIVERSARY

In January 2011, Wafacash celebrated its 20th anniversary, marking two decades of success in serving its customers and sharing achievements with its employees.

To commemorate the event, Wafacash launched a communication campaign highlighting its core values, which have made the brand a true success story within the Attijariwafa Bank Group: Proximity, Availability, Speed, Security, and Simplicity.

Wafacash also introduced "Allo Cash," a fully secure money transfer service that enables transfers to be initiated directly from partner applications.

WAFACASH ALWAYS IN SEARCH OF NEW PARTNERS

New partnerships in 2012:

With international money transfer operators:

RIA: A major international money transfer company.
Santander Envios: A subsidiary of Spain's largest bank, Banco Santander.
With e-commerce sites and telecom operators for cash payments via the PayCash service:

Superdeal: A company specializing in promoting events and service offers on the internet at promotional rates, called "Deals."
Wafasalaf: An app allowing Wafasalaf customers to make cash payments for their bills or repay their loans in advance at any Wafacash branch of their choice. This service simplifies life for customers by offering immediate and secure cash payment options.
Inwi: The Inwi phone recharge service is now available at Wafacash branches with a simple and reliable system.

Binga.ma: The first cash payment channel on the internet in Morocco.

In 2013, the first cash payment channel on the internet in Morocco, Binga.ma, was launched.

This solution provides a method for bill payments and purchasing services for individuals who either do not wish to or cannot use their bank cards due to concerns about electronic payments, card usage limits, or simply a preference for cash payments.

The year 2013 also saw the launch of "Sigue," a new international "cash-to-cash" money transfer system.

Wafacash continued to expand its partnerships, today offering its PAY CASH service to the automobile credit company RCI FINANCE MAROC. RCI customers will have the opportunity to pay their installments in cash through the entire Wafacash network.

NEW PARTNERSHIP WITH THE MICRO-CREDIT ASSOCIATION "AL AMANA"

In 2014, Wafacash formed a partnership with "Al Amana," the first microcredit association in Morocco with the largest number of beneficiaries. Al Amana plays a vital role in the economic and social development of our country through financial inclusion.

The main objective of this partnership is to target a common audience for both Al Amana and Wafacash: the economically vulnerable and underserved population, excluded from traditional banking. The goal is to bank them through Hissab Bikhir and offer small loans to help them develop income-generating activities.

NEW PARTNERSHIP WITH ROYAL AIR MAROC

In October 2014, the payment service for flight tickets sold through the Royal Air Maroc website was launched across the Wafacash network.

NEW PARTNERSHIP WITH THE LEADER IN INTERNATIONAL TRANSFERS "AZIMO"

In 2015, as part of the Allo Cash product, Wafacash launched a new partnership with AZIMO, one of the leaders in international transfers via the web and mobile.

AZIMO targets Moroccans living abroad (MRE) who send transfers to Morocco, specifically customers using mobile and internet channels.

NEW PARTNERSHIP WITH THE TREASURY OF THE KINGDOM

As part of the Pay Cash/Binga project, Wafacash signed a new partnership with the TGR (Treasury of the Kingdom) for the following payments:

• Housing Tax
• Municipal Service Tax
• Professional Tax
• Transactional and Fixed Fines (ATF)"

Best Money Transfer Services in Morocco 2016

Wafacash was awarded the "Best Money Transfer Services Morocco 2016" prize by CFI.co. This award recognizes the quality of its services, as well as its pioneering role in the field of money transfers. It is the first time that a Moroccan money transfer operator has received this award.

As part of the Cash to Cash and Web to Cash products.

As part of the Cash to Cash and Web to Cash products, Wafacash signed a new partnership with Paytop, a UK-based financial company specializing in money transfers.

NEW PARTNERSHIP WITH THE TREASURY OF THE KINGDOM

As part of the Pay Cash/Binga offer, Wafacash signed a partnership in July 2017 with the TGR (Treasury General of the Kingdom) for cash collection of customs duties.

New Partnership with the General Tax Directorate (DGI)

As part of the Pay Cash/Binga offer, Wafacash signed a new partnership in January 2017 with the DGI (General Tax Directorate) for cash payments of the following taxes:

• IR: Income Tax
• IS: Corporate Tax
• VAT: VALUE ADDED TAX

Launch of "JIBI", the First Mobile Payment Account

Jibi was designed to offer a range of services, such as secure mobile payments, money transfers to a third party, or making purchases from merchants. For the latter professional category, Wafacash also created Jibi Pro, a professional version of mobile payment accounts.

"VOTED SERVICE CLIENT OF THE YEAR 2019"

In the "Payment Methods and Money Transfer" category, Wafacash was awarded the title of "Voted Service Client of the Year 2019". This distinction recognizes the commitment of the teams at the subsidiary of the Attijariwafa Bank group.

"VOTED SERVICE CLIENT OF THE YEAR 2020"

For the second consecutive year, Wafacash was awarded the title of "Voted Service Client of the Year 2020" for the quality and commitment of its teams.

"VOTED SERVICE CLIENT OF THE YEAR 2021"

Wafacash was "Voted Service Client of the Year 2021" in the category of "Payment Methods and Money Transfer", for the third consecutive year.

This distinction rewards the professionalism and continuous commitment of its teams to satisfy customers by providing high-quality service.

Launch of the "Wafacash Europe App"

In October 2021, Wafacash launched its new mobile money transfer application aimed at Moroccans residing abroad and the African diaspora. The app allows users to make transfers to be distributed across all Wafacash network agencies and partners, from Europe to Morocco, West Sub-Saharan Africa (UEMOA zone), and Central Sub-Saharan Africa (CEMAC zone), where its subsidiaries are located.

Recipients can receive transfers in:

• Cash at Wafacash network locations for Morocco, Cameroon, Senegal, Ivory Coast, and Mali.
• To a bank account in Morocco.
• To a Wafacash Wallet for Morocco and Senegal.

"VOTED SERVICE CLIENT OF THE YEAR 2022"

Wafacash was "Voted Service Client of the Year 2022" in the category of "Payment Methods and Money Transfer", for the fourth consecutive year.

This distinction rewards the professionalism and continuous commitment of its teams to satisfy customers by providing high-quality service.

Launch of "TAAMINE WAFACASH"

Wafacash has partnered with Wafa Assurance, both leaders in their respective sectors and key players in financial inclusion, to create a distribution and management model for micro-insurance products benefiting the Moroccan population. TAAMINE WAFACASH is the first inclusive insurance offer authorized and marketed by a payment institution.

VOTED CUSTOMER SERVICE OF THE YEAR 2023

Wafacash was named "Customer Service of the Year 2023" in the category of "Money Transfer and Payment Methods." This is the 5th consecutive year that Wafacash has received this distinction.
It is worth noting that the survey for this study was conducted in 2022.