Damane Cash
Damane Cash is a Moroccan payment services establishment, part of the Bank Of Africa Group, operating 700+ franchised agencies that deliver international and domestic money transfers, bill and tax payments, currency exchange, mobile wallet services, and inclusive insurance to consumers and the diaspora.
- Company typePrivate
- Founded-
- HeadquartersCasablanca, Morocco
- Headcount101–250
- GTM typeB2C
- OfferingServices
What Damane Cash does
Damane Cash is a Moroccan payment services establishment (établissement de paiement) headquartered in Casablanca and wholly owned by the Bank Of Africa Group (formerly BMCE Group). The company operates a multi-service financial platform combining a nationwide franchise-agency network of more than 700 physical locations with a digital layer. Its core service lines are international money transfers — offered as a payout and send agent for Western Union, MoneyGram, WorldRemit, Ria, Moneytrans, Al-Ansari Exchange, Dirham Express, and PaySend — and domestic transfers under the Rapido Mandat Express brand. It additionally provides bill and tax payments, manual foreign currency exchange (targeting tourist allocations, business travel, Hajj/Omra, and student allowances), inclusive insurance under the Taaminate Damane brand in partnership with RMA, and the Damane Pay mobile wallet (M-Wallet) available on iOS and Android.
The technology stack is a digital payment infrastructure with mobile wallet capability and an agent-based cash-in/cash-out model. Damane Pay enables 24/7 self-serve transfers, bill payment, tax payment, merchant purchases, and account top-up, with agent network integration for physical cash withdrawal. The product portfolio targets financial inclusion: individual consumers, the Moroccan diaspora, franchise agents, and — more recently — the pharmacy vertical via electronic POS deployment. The company is regulated by Bank Al-Maghrib and holds ISO 37001 anti-corruption management certification.
The business model is transaction-fee based across every revenue stream — international remittance commissions, domestic transfer fees, bill-payment processing, currency-exchange spreads, mobile wallet transactions, and (since 2024) insurance distribution through Taaminate Damane. Distribution is overwhelmingly via franchised agency locations that monetize proximity and cash-handling, with the mobile wallet adding a self-serve digital channel. Go-to-market is primarily channel-partner driven, leveraging both the franchise network and partnerships with international money-transfer operators, insurance carriers, and Moroccan pharmacy-sector bodies. No pricing is publicly disclosed.
Damane Cash firmographics
Firmographics- Name
- Damane Cash
- Legal name
- Damane Cash
- Website
- https://damanecash.ma
- Company type
- Private
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Damane Cash is a Moroccan payment services establishment, part of the Bank Of Africa Group, operating 700+ franchised agencies that deliver international and domestic money transfers, bill and tax payments, currency exchange, mobile wallet services, and inclusive insurance to consumers and the diaspora.
- Ownership category
- akta.pro rank
Damane Cash industry classification
Industry- Product category
- Payment Services
- NAICS
- Depository Credit Intermediation (5221)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Consumer Remittances (P2P) (FSAMAIAA)
- akta.pro secondary industries
- Consumer P2P International Remittances (FSAGAKAA), Carrier Billing & Telco Mobile Money (FSAMAEAD)
Keywords
Where Damane Cash is headquartered
LocationHeadquarters
- HQ city
- Casablanca
- HQ country
- Morocco
- HQ region
- Africa
Offices2 records
Markets served
Damane Cash business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales, Others
Revenue model
- International Money Transfer Commissions: Revenue from processing international money transfers through partnerships with Western Union, MoneyGram, WorldRemit, Dirham Express, Al-Ansari Exchange, Moneytrans, Ria, and other international transfer services. Charges apply per transaction.
- Domestic Money Transfer (Rapido): Revenue from domestic money transfer services under the Rapido Mandat Express brand, providing secure, fast, and economical transfers throughout Morocco.
- Manual Currency Exchange: Revenue from currency exchange services (achat/vente de devises) including tourist allowances, business mission allocations, Hajj/Omra allocations, and student departures.
- Bill and Tax Payments: Revenue from processing bill payments (water, electricity, telephone) and tax payments at agency locations.
- Damane Pay Mobile Wallet: Revenue from mobile payment account services including transfers, bill payments, and merchant transactions via the M-Wallet application.
Go-to-market motion1 record
Distribution channels4 records
Marketing channels4 records
Damane Cash product offering
Product offeringCore offering
Damane Cash is a payment services establishment offering international and domestic money transfers, bill and tax payments, manual currency exchange, and a mobile wallet (Damane Pay). It distributes these services through a nationwide franchise agency network of 700+ locations across Morocco, complemented by its Damane Pay mobile app and partnerships with international remittance operators.
Product overview
Damane Cash is a payment institution (établissement de paiement) belonging to the Bank Of Africa Group (formerly BMCE Group). The company operates a multi-service financial platform combining physical agency distribution with digital services. Its core offerings include Damane Pay (mobile payment wallet), international and national money transfers, bill payment services, manual currency exchange, and Taaminate Damane inclusive insurance products. The company distributes its services through a nationwide network of franchised agencies and maintains partnerships with major international money transfer operators. The product portfolio centers on financial inclusion and digital payment modernization for Moroccan consumers.
Differentiator
Problem solved
Functional benefit
Brands
- Damane Pay: Mobile payment account (M-Wallet) enabling money transfers, bill payments, tax payments, merchant purchases, and cash withdrawals at agents. Accessible 24/7.
- TAAMINATE DAMANE
- Rapido Mandat Express
Products and services
- Damane Pay A mobile payment account (M-Wallet) that enables users to transfer and receive money, pay bills and taxes, make purchases at merchants, top up accounts, and withdraw cash at local retailers. Available as a mobile app for iOS and Android, accessible 24/7.
- International Money Transfer (Réception/Émission) Services for receiving and sending international money transfers through partnerships with Western Union, MoneyGram, Ria, MoneyTrans, WorldRemit, Dirham Express, Al-Ansari Exchange, and Pay-Send. Enables global diaspora remittances to and from Morocco through Damane Cash agency locations.
- Rapido Mandat Express National money transfer service that enables users to send and receive money anywhere in Morocco with secure, fast, and economical transfers through Damane Cash agency locations.
- Bill and Tax Payment (Paiement de factures et impôts) Payment service for utility bills (water, electricity, telephone) and taxes, available at physical Damane Cash agencies and via mobile. Sunday transactions supported for greater convenience.
- Manual Currency Exchange (Change manuel) Foreign currency exchange service for buying and selling currencies at competitive rates, covering tourist allocations, business travel allocations, Hajj/Umra allocations, and student departure allowances.
- Taaminate Damane Inclusive insurance product line developed in partnership with RMA (Royale Marocaine d'Assurance), designed to provide coverage for all customers regardless of financial status or profile.
- Franchise Agency Network (Réseau d'agences) Extensive physical agency network across Morocco operated through a franchise model, offering proximity services including money transfers, bill payment, and currency exchange in hundreds of locations nationwide.
Companies that use Damane Cash
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles3 records
Damane Cash technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Damane Cash partnerships and signals
Strategic signalPartnerships
17 partnerships are on record, tiered minor and core.
- Regional Council of Pharmacists of the SouthminorPartnership to deploy electronic POS terminals and digital acquisition solutions in pharmacies across southern Morocco.
- Regional Council of Pharmacists of the NorthminorPartnership to deploy electronic POS terminals and digital acquisition solutions in pharmacies across northern Morocco.
- National Federation of Pharmacists' Unions of Morocco (CSPM)minorPartnership with national pharmacy federation to promote adoption of electronic payment solutions in pharmacies nationwide.
- Western UnioncoreInternational money transfer partnership allowing Damane Cash agencies to process Western Union transfers for customers sending/receiving money from abroad.
- MoneyGramcoreInternational money transfer partnership for processing MoneyGram transactions at Damane Cash agency locations.
- WorldRemitcoreInternational money transfer partnership enabling WorldRemit customers to receive transfers at Damane Cash locations.
- Ria Money TransfercoreInternational money transfer partnership for Ria money transfer services.
- Dirham ExpresscorePartnership with Dirham Express to strengthen international money transfer services for Moroccan diaspora.
- Al-Ansari ExchangecoreInternational money transfer partnership with Al-Ansari Exchange for diaspora remittance services.
- MoneytranscoreInternational money transfer partnership for Moneytrans services.
- CTM MessagerieminorPartnership with CTM Messagerie (logistics and distribution specialist) for customer experience optimization.
- Royal Moroccan Insurance (RMA)coreStrategic partnership to launch Taaminate Damane inclusive insurance products addressing needs of all customers regardless of financial status.
- Bank Al KaramcorePartnership with Bank Al Karam (participative bank and payment establishment of Bank Of Africa Group) for financial inclusion initiatives.
- InwiminorBill payment partner for telecom services.
- IAM (Maroc Telecom)minorBill payment partner for telecom services.
- CNSS (National Social Security Fund)minorSocial security payment services partner.
- JAWAZminorBill payment partner.
Scale indicators2 records
Recent moves5 records
Expansion highlights5 records
Damane Cash competitors and assessment
Company assessmentDirect peers
- Orange Money Maroc: Mobile money service from Orange Maroc offering P2P transfers, bill payment, merchant payments, and international remittance receive/send directly to a mobile wallet. Competes with Damane Pay for digital-first consumer payments in Morocco.
- Barid Cash: Payment services arm of Barid Al-Maghrib (Morocco's postal group) offering money transfer, bill payment, and account services through post offices and partner agents nationwide. A state-backed direct competitor with similar breadth of services and physical distribution.
- Wafacash: Moroccan payment institution and money transfer subsidiary of Attijariwafa bank; offers international remittance payout (Western Union, MoneyGram), domestic transfer, mobile wallet (Wafacash Pay), currency exchange, and bill payment through a national franchise agency network. The closest direct peer to Damane Cash, differentiated only by parent bank affiliation (BOA vs Attijariwafa).
- Inwi Money: Mobile money offering from Inwi, one of Morocco's three major mobile operators; provides mobile wallet, transfers, and bill payment integrated with telecom billing. Direct competitor to Damane Pay on the mobile money side of the Moroccan market.
- Cash Plus: Moroccan payment institution offering money transfer, bill payment, mobile top-up, and merchant payment services through a nationwide agent network. Competes directly with Damane Cash in both international remittance payout and domestic transfer / bill payment categories.
Emerging players
- Remitly: US-headquartered digital remittance app serving diaspora corridors globally with mobile-wallet and bank-deposit delivery options. Comparable as a competitive channel for the same Moroccan diaspora remittance flows Damane Cash serves through its agency network.
- WorldRemit: Digital-first cross-border remittance platform that enables senders to send money to mobile wallets or bank accounts globally; Damane Cash is the Moroccan cash-payout partner. Represents the digital-native model that could ultimately disintermediate agent-based remittance.
Broad incumbents
- Western Union: Global leader in cross-border money transfer, and a core principal partner of Damane Cash. Damane Cash is essentially a payout agent in Morocco for Western Union flows; Western Union itself is the broader incumbent whose strategy (digital vs agent-led) directly shapes Damane Cash's economics.
- MoneyGram: Global cross-border money transfer operator and another core principal partner of Damane Cash. Comparable business activity (international P2P remittance) at a global scale, with Damane Cash serving as Moroccan payout agent.
- MTN Mobile Money (Morocco/Moov Africa): MTN Group's mobile money platform operating across multiple African markets with P2P transfer, merchant payment, and remittance services. Comparable in product scope to Damane Pay but operating as part of a much larger pan-African telecom/fintech portfolio.
Market position
Strengths5 records
Competitive moat4 records
Key highlights6 records
Customer concentration
Damane Cash social profiles
Digital presenceDamane Cash financial estimates
Financial estimateRevenue estimate
Valuation estimate
Damane Cash leadership team
Management profileNumber of profiles
Damane Cash funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Damane Cash M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Damane Cash
What does Damane Cash do?
Damane Cash is a payment services establishment offering international and domestic money transfers, bill and tax payments, manual currency exchange, and a mobile wallet (Damane Pay). It distributes these services through a nationwide franchise agency network of 700+ locations across Morocco, complemented by its Damane Pay mobile app and partnerships with international remittance operators.
Is Damane Cash a public or private company?
Damane Cash is a private company. It is classified as corporate owned and is currently operating.
When was Damane Cash founded?
Damane Cash was founded in -1. It employs 101 to 250 people.
Where is Damane Cash based?
Damane Cash is headquartered in Casablanca, Morocco, in the Africa region.
How does Damane Cash make money?
Five revenue lines are on record. International Money Transfer Commissions are the primary driver. The others are domestic Money Transfer (Rapido), manual Currency Exchange, bill and Tax Payments and damane Pay Mobile Wallet.
Who are Damane Cash's main competitors?
Direct peers on record are Orange Money Maroc, Barid Cash, Wafacash, Inwi Money and Cash Plus. Emerging players are Remitly and WorldRemit. Broad incumbents are Western Union, MoneyGram and MTN Mobile Money (Morocco/Moov Africa).
Does Damane Cash have an API?
No public API is recorded for Damane Cash.
What industry is Damane Cash in?
Damane Cash's product category is Payment Services. Its primary akta.pro industry code is FSAMAIAA, Consumer Remittances (P2P), with a secondary code of FSAGAKAA, Consumer P2P International Remittances. Its NAICS code is 5221 and its SIC code is 6199.