Al Barid Bank and Chari Join Forces to Accelerate Digital Payments and Financial Inclusion in Morocco
Al Barid Bank and Chari, an innovative payment institution in Morocco, have announced the signing of a strategic partnership aimed at accelerating the digitalization of payments and enhancing financial inclusion across the country. This foundational alliance encompasses the entire payment value chain, including payment acquisition, service distribution, and financial flow management.
Expanded Payment Solutions for Merchants
As part of this agreement, CHARI Money and Barid Cash are joining forces to democratize access to electronic payment solutions for Moroccan merchants. Specifically, Chari will handle the distribution of Barid Cash’s acceptance solutions, including point-of-sale terminals (TPE), SoftPOS, and e-commerce solutions. The technological platforms of both partners will be interconnected to facilitate online payments both nationally and internationally.
Comprehensive Support and Technological Synergy
Merchants will benefit from comprehensive support, ranging from onboarding to operational assistance. This model relies on the complementary strengths of Barid Cash’s extensive physical network and Chari’s technological agility, allowing for faster and more efficient distribution of digital payment solutions.
Integrated Financial Flow Management
The partnership also covers cash collection and disbursement operations through the physical and digital channels of Barid Cash. Users of Chari will thus have access to services such as cash payments at agency locations, secure transfers, and a smooth management of financial flows between clients, merchants, and partners.
A Lever to Strengthen Financial Inclusion in Morocco
Through this collaboration, Al Barid Bank and Chari aim to accelerate the adoption of digital payments, facilitate access to financial services for underbanked populations, and strengthen the national payment ecosystem. To support this initiative, Al Barid Bank is providing Chari with its payment infrastructure backed by the international networks of Visa and Mastercard.
