Despite progress in card usage, infrastructure, and the number of players, cash remains the dominant payment method in Morocco, with many merchants still outside the electronic payment ecosystem. On September 17, Visa and industry professionals met for the "Visa Acceptance Day" to review the main obstacles to digital payment acceptance and opportunities related to small businesses, tourism, new technologies, and artificial intelligence.
The development of electronic payment in Morocco has significant room for growth, according to a key finding from the "Visa Acceptance Day" event, which brought together various ecosystem players to discuss payment acceptance transformations and security. For Sami Romdhane, General Manager of Visa Maroc, the evolution of commerce is accompanied by a progressive transformation of payment methods, with emerging trends like "agent commerce" and artificial intelligence.
An estimated 2.6 million commercial and entrepreneurial activities exist in Morocco, but only 120,000 are equipped with digital payment solutions, and around 80,000 have payment terminals. Ibtissam Moatadid, Manager Merchant Sales & Acquiring at Visa Maroc, presented these statistics, highlighting the largely untapped potential of the Moroccan market.
For Visa, the goal is not only to increase equipment but also to develop its usage, particularly in small cities, proximity commerce, and certain categories of merchants that have been undercovered. Simply installing a payment terminal and seeing one transaction per month is insufficient to develop digital payment, according to Moatadid, who emphasizes the need to work on both equipment and usage frequency.
According to a study presented at the event, 67% of respondents consider digital payment a growth lever, and 70% believe it can contribute to increased revenue. The phone is also seen as a means to reduce entry barriers, with 63% of respondents viewing it as a potential development lever, particularly with "Tap to Phone" technology, which allows compatible smartphones to receive contactless payments.
Visa sees "Tap to Phone" technology as a solution for small merchants, artisans, and professionals, enabling them to accept digital payments without traditional payment terminals. This technology has the potential to expand digital payment acceptance, especially in areas where traditional infrastructure is limited.
The event highlighted the importance of collaboration between industry players to drive the adoption of digital payments in Morocco. By addressing the challenges and opportunities in the market, Visa and its partners aim to increase financial inclusion and promote economic growth through digital payment solutions.
Key points
- Only 120,000 Moroccan merchants are equipped with digital payment solutions, out of an estimated 2.6 million commercial and entrepreneurial activities.
- 67% of respondents consider digital payment a growth lever, and 70% believe it can contribute to increased revenue.
- Visa aims to expand digital payment acceptance through "Tap to Phone" technology and increased focus on small businesses and proximity commerce.
