Exclusive…Al Barid Bank Group and Chari Company strengthen their strategic partnership to accelerate financial inclusion and the digitization of payments in Morocco ✍️👇👇👇

Exclusive…Al Barid Bank Group and Chari Company strengthen their strategic partnership to accelerate financial inclusion and the digitization of payments in Morocco ✍️👇👇👇

The Postal Bank Group and Chari, a leading payments institution in Morocco, announced the signing of a significant strategic partnership agreement aimed at accelerating the digitization of payments and promoting financial inclusion nationwide.

Bank Al-Maghrib Group explained in a joint statement with Chari Company, a copy of which was received by NajibPressEng website today, Thursday, that through this partnership, it will expand the distribution of payment solutions to merchants, confirming that both "Chari Money" and "Barid Cash" will cooperate to provide electronic payment solutions to all Moroccan merchants.

The same statement added, "Shari will also distribute Barid Cash solutions for accepting payments (point of sale devices, point of sale software, and e-commerce), and the technical platforms will be linked to enable electronic payment operations at the national and international levels, as well as merchants benefiting from comprehensive support, from registration to operational assistance."

In a related context, the same source indicated that this model will combine the physical strength of “Barid Cash” network and the technical flexibility of “Shari”, as well as an integrated infrastructure for managing physical and digital financial flows. In addition, this partnership will also include cash receipt and disbursement operations through Barid Cash’s physical and digital channels, where Shari will be able to offer its users (cash payments in branches, secure transfers and disbursements, and seamless management of flows between customers, merchants, and partners).

By combining their expertise, Chari Foundation and Postal Bank aim to: accelerate the adoption of digital payments in Morocco, facilitate access to financial services for merchants and unbanked populations, and strengthen the national payments system in accordance with international standards. To achieve this, Postal Bank provides Chari Foundation with its payments infrastructure, including Visa and Mastercard networks.

On the other hand, Amine Najjar, Chairman of the Board of Directors of Postal Bank, said in a press statement about this partnership, “This collaboration embodies our commitment to supporting financial innovation and promoting financial inclusion. Through our partnership with Chari, Postal Bank Group is strengthening its role as a key player in modernizing payment systems in Morocco.”

Ismail Belkhayat, CEO of Shari, told to NajibPressEng , "This partnership represents an important step in our journey towards building a leading financial infrastructure for merchants in Morocco. With Al Barid Bank and Barid Cash, we will create an integrated system capable of meeting needs on the ground, from cash transactions to digital services."

It is worth noting that Post Bank, which is part of the Morocco Post Group, is a major player in the field of financial inclusion in Morocco, as it has a wide network and a strong presence throughout the country. As for Chari, it is a Moroccan institution specializing in payments, providing innovative digital solutions for merchants, including payments and financial management.