Maroc telecom has launched Mobicash, Morocco’s first trials of mobile debit payment service.
This first service of money transfer and payment by phone has been the object of an agreement signed between Morocco Telecom operators and Attijariwafa bank and the Central ‘Banque Populaire’ – writes Emmanuel Okoegwale.
MobiCash is a complete mobile payment platform that works immediately on every existing phone. Transactions are securely signed with NSDT (Near Sound Data Transfer), a technology that sends ‘cryptosounds’ through the phone’s audio channel to enable contact-less mobile payment.
This new service allows operators to provide their subscribers with variety of services and conduct, secure transactions such as deposit and withdrawal of money from Mobicash accounts in all Telecom agencies. It also provides bill payments, money transfers across Morocco as well as mobile banking and international remittances services.
This could be an excellent option for companies that offer mass-market mobile applications and are looking for ways to easily accept payments. It is open to customers of Maroc Telecom without having to hold a bank account and its activation takes place in Maroc Telecom agencies upon presentation of the national identity card.