In a game-changing move for Moroccan expatriates, Bank of Africa (BOA) has entered into a strategic partnership with fintech company TapTap Send—a development poised to reshape the remittance landscape for millions of Moroccans living abroad.
Unveiled in a recent press statement, the partnership enables fee-free, 24/7 money transfers from key diaspora hotspots—such as the United Kingdom, United States, Canada, the UAE, and European Union countries—straight into any Moroccan bank account. It’s a bold leap forward for financial inclusion and a clear response to the evolving expectations of a global Moroccan community that sends billions home every year.
At first glance, another digital remittance platform may not seem revolutionary. But look deeper, and a few key differentiators emerge that set this solution apart. Zero Transfer Fees – Unlike major players such as Western Union, MoneyGram, or even mobile-first disruptors like WorldRemit and Wise, TapTap Send offers zero-cost transfers. That’s a major incentive for Moroccan workers abroad, many of whom are under pressure from inflation and economic volatility in their host countries. Every saved dirham counts.
The deal isn’t exclusive to BOA account holders. The TapTap Send platform allows users to send funds to any Moroccan bank account, giving it a flexibility edge over some proprietary banking apps that restrict incoming transfers to within their own networks.
TapTap Send is designed with speed and usability in mind. Built to be mobile-first, the app is intuitive and user-friendly, catering especially to younger diaspora members and digital natives. The partnership promises instant or near-instant delivery, helping families back home access funds quickly, whether it’s for school fees, medical emergencies, or daily needs.
The BOA name carries serious weight. With its pan-African footprint and decades-long presence in Morocco and beyond, the bank offers institutional credibility that newer fintechs often struggle to build. This partnership merges that trust with TapTap’s agility—blending tradition with innovation.
Morocco is one of Africa’s top recipients of remittances. According to World Bank data, Moroccan diaspora remittances totaled over $11 billion in 2023, accounting for nearly 8% of the country’s GDP. These funds are more than lifelines—they’re economic stabilizers, often supporting entire households, fueling local consumption, and even financing small businesses.
Yet the remittance landscape has long been plagued by high fees, bureaucratic processes, and inconsistent delivery times. Traditional money transfer operators charge anywhere from 5–10% in fees per transaction—an unnecessary tax on migrant labor. Digital services have lowered costs, but not eliminated them.
The BOA-TapTap Send alliance changes that. It’s frictionless, inclusive, and cost-effective, a direct answer to the diaspora’s demand for better, faster, and cheaper ways to send money home.
But this move isn’t just about remittances. For BOA, the partnership reflects a broader strategy to deepen relationships with the Moroccan diaspora, a segment the bank views as “strategic clientele.”
“The solution meets the growing expectations for speed and transparency expressed by our international customers,” the bank said in its statement. It’s also a gateway: by offering easy remittance services, BOA opens the door to on-boarding diaspora clients for additional banking services—savings, loans, investments—linking them more closely to Morocco’s financial ecosystem.
For TapTap Send, the deal represents expansion and legitimacy. Already operational in several African and Asian markets, the fintech startup has rapidly grown a reputation for low-cost, high-access remittance services. Tapping into Morocco—a sizable and active remittance corridor—gives it one of North Africa’s most important economic communities.
This partnership also fits within the broader shift towards digital financial inclusion across Africa. As smartphones proliferate and mobile internet improves, digital platforms are eclipsing traditional banks and transfer houses. Governments and regulators, too, are warming to fintech solutions that lower costs and increase transparency in financial flows.
For Morocco, this aligns with its digital transformation agenda, especially in strengthening the nexus between its economy and its diaspora. Whether it’s to fund education, health, or business back home, the easier it becomes to move money, the stronger those cross-border ties grow.
In the high-stakes world of remittances, the BOA-TapTap Send collaboration is more than a nice-to-have—it’s a blueprint for what 21st-century diaspora banking should look like. It’s digital, it’s affordable, and most importantly, it puts the needs of the Moroccan diaspora front and center.
With zero fees, round-the-clock availability, and the ability to reach any Moroccan bank account, this solution is poised to win hearts—and wallets—across the globe. It’s not just a tech update. It is a financial empowerment story, unfolding in real time.