Moroccan retail-tech startup Chari has announced a partnership with global payments leader Visa to revolutionize financial inclusion and innovation in Morocco over the next seven years. Founded in 2020 by Ismael and Sophia Belkhayat, Chari provides traditional proximity store owners in Morocco with an online platform to order products and have them delivered. The platform has already onboarded over 20,000 food businesses and expanded into Tunisia and Ivory Coast.
As a Y Combinator alumnus, Chari is well-capitalized and poised to drive further growth in Morocco’s fintech ecosystem. This collaboration with Visa highlights their shared commitment to accelerating digital transformation and expanding access to financial services for both businesses and consumers in the region.
The partnership aims to significantly expand Visa’s presence in Morocco’s dynamic fintech market. By leveraging Chari’s market insights and innovative solutions, the two companies plan to increase their customer base and unlock new revenue streams. Additionally, the collaboration will enhance financial inclusion by facilitating wider acceptance of digital payments, integrating more merchants into the formal financial system, and broadening access for consumers.
“This collaboration with Visa, a global leader in digital payments, represents a significant milestone for Chari,” said Ismael Belkhayat, CEO and co-founder of Chari. “By joining forces, we will expand our reach and enhance our service offerings, ultimately contributing to greater financial inclusion for Morocco’s retail community.”
