Moroccan fintech startup Mynk is helping accelerate digital payments in the country by offering a mobile application that enables users to send and receive money instantly using only a phone number.
Launched in 2021 by entrepreneur Driss Zizi, the platform allows users to transfer funds without entering bank account details such as IBAN numbers. Instead, transactions are completed by selecting a contact from the phone’s directory, entering the amount, and confirming the payment.
The application is designed primarily for students and young professionals, enabling everyday financial transactions such as splitting expenses, sending money to friends, paying for services, purchasing mobile airtime, paying bills, and buying gift cards or online services.
Mynk operates through an electronic wallet funded via bank cards, allowing users to make instant and free transfers between Mynk accounts. Fees are only applied when funds are transferred from the wallet to a traditional bank account.
To ensure security and regulatory compliance, Mynk has partnered with local Moroccan banks and operates within the country’s financial regulatory framework.
By simplifying digital transactions and improving accessibility to financial services, the startup aims to promote mobile payment adoption and strengthen financial inclusion, particularly among younger urban populations in Morocco.
