In Morocco, e-commerce is booming
30 November 2011
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E-commerce in Morocco is constantly growing due to improved internet infrastructure.
1. LE MATIN: In terms of e-payment, how does Morocco compare to other countries in the region?
MOHAMED TOUHAMI EL OUAZZANI: For several years, electronic payment systems have made giant strides in innovation. The global rise of mobile banking and the growth of e-commerce are two of the most important elements.
Morocco is no exception. Increased connectivity and the growing use of the internet contribute to maintaining this trend. E-commerce in Morocco is constantly gaining ground due to improvements in internet infrastructure. According to recent statistics published on the website worldstats.com, the internet penetration rate in Morocco reached more than 41% of the total population on March 31, 2011.
The integration of e-commerce into the national economy, particularly through the tourism sector, is an important means of developing online transactions in Morocco.
According to Euromonitor International, increased access to the internet for Moroccan consumers has led to an increase in online sales for travel and tourism. Online transactions account for 11% of the value of retail sales in tourist accommodation and car rental in 2009.
Incoming tourists, used to booking online, have boosted online transactions in these categories. Transportation and travel reflect a clearer picture, with online transactions representing 5% and 9% of the value of retail sales respectively.
Thus, on the one hand, this service contributes to expanding their market beyond borders. On the other hand, Visa cardholders can benefit from the security, convenience and speed of online purchases and enjoy a wider range of offers and commercial discounts.
Online payment via bank cards from merchant sites affiliated with the Interbank Monetary Center (CMI) increased by 78.9%, from 206.7 MDH during the first 9 months of 2010 to 369.6 MDH during the same period in 2011. The number of e-commerce transactions increased from 198,000 to 461,000 operations.
2. What measures has Visa taken to develop e-payment in Morocco?
With a solid electronic payment infrastructure in place in Morocco, Visa, in collaboration with financial institutions, can expand the card acceptance network to make it easier for Moroccan consumers and tourists to pay for products and services. In addition, with the help of e-commerce, tourists can also book their holidays online and benefit from reduced costs and better offers.
In fact, new regulations from the Office des Changes authorize all Moroccan citizens to make annual international transactions online worth 10,000 dirhams, simply by presenting an identity card to the issuing bank. This initiative is supported by the Visa Internet card or "e-card" in collaboration with local banks. This service will contribute to the development of the travel and tourism industry for Moroccans traveling abroad and support the government's efforts to develop e-commerce.
Other initiatives, such as actions related to financial education and the creation of the my money skills website, will contribute to improving the knowledge and awareness of Visa cardholders about the usefulness and benefits of electronic payment.
3. What are the main points highlighted by the recent Visa study?
Visa conducted this survey to identify payment card habits in Morocco and examine real or perceived perceptions regarding the use of payment cards. The survey revealed that the lack of use of payment cards in Morocco is due to several factors, including a lack of financial education, a lack of points of sale or places where digital currency is accepted, a banking rate to be developed, and fear related to use.
Despite these obstacles, respondents continue to use their cards regularly, with 89% using them 4 to 6 times a week, both for direct purchases (26%) and for cash withdrawals (74%).
The majority of respondents (68%) cite convenience as the main advantage of using their payment cards compared to cash. Taking advantage of the benefits of their payment cards, respondents also mentioned situations where their payment cards were particularly useful: emergency situations in general (81%) and emergencies during travel (13%).
At Visa, the feedback we receive from individual cardholders is essential to our business and helps guide innovative solutions to develop mutually beneficial relationships with all stakeholders. The survey results clearly show that acceptance is the main facilitator of the growth of digital currency in Morocco. As a market leader, Visa will continue to collaborate with industry players to encourage the acceptance and use of payment cards and give their holders the opportunity to use them as they see fit. Visa's goals to increase acceptance specifically target card acceptance infrastructure and further development of points of sale.
Three areas have already been targeted by Visa as part of these efforts: working with businesses to increase the number of points of sale in Morocco, strengthening the infrastructure of points of sale and their availability by ensuring their proper functioning, and establishing strategic partnerships with card issuers and merchants in the general interest of all stakeholders.
Abdelhakim Hamdane
Lematin.ma
Published November 29, 2011.
Posted online November 30, 2011.
