Online payment: still a long way to go

Online payment is struggling to take off in Morocco, despite efforts by public authorities and private operators. The adoption of mobile payments is essential today as a core vector of e-commerce and constitutes an essential component of financial inclusion.

On his recent departure, Abdellatif Jouahri, wali of Banco Al-Maghrib, solemnly appealed to the imperative of implementing an ecosystem of mobile payments in the national territory. During the press conference following BAM’s 4th and final quarterly meeting of 2022, he stated that “technically everything is there, but the ecosystem is not”. Ensuring that the national market has 1.5 million M-wallets and that technically all switch tests have been performed. In addition, the Central Bank guarantees the interoperability of mobile payment services. However, the number of transactions remains low. According to statistics published by Bank Al-Maghrib at the end of 2021, there were 19 offers of M-Wallets on the market, including 13 issued by payment institutions, totaling a balance of 6.3 million M-Wallets issued.

It should be noted, in this regard, that Bank Al-Maghrib developed, in collaboration with the mobile payments ecosystem, an institutional communication strategy with the aim of establishing the credibility of this new means of payment and the public’s trust in its use. popularize the uses of mobile payment. In fact, banks are also working towards developing the use of online payment. According to BMCI officials, “the digital transformation in the banking sector is undeniable and occupies a prominent place in the bank’s strategy”. The bank also claims that this transformation allows it to support the growing uses of its customers in this area and offer them services in line with their expectations. “Making them increasingly autonomous and allowing them to consume the bank whenever and wherever they want is essential. This omnichannel is fundamental and the digital transformation is a powerful enabler at the heart of our strategy”, they add in this sense.

Mobile payment, a core vector for e-commerce development
For its part, the Ministry of Industry and Commerce also highlights the importance of developing mobile payments in the national market. In addition, the dissemination of the adoption of mobile payment is one of the priorities of the public authorities.

According to ministry officials, “the adoption of mobile payment is emerging today as a central vector of electronic commerce and constitutes an essential component of financial inclusion”. Aware of this importance, in December 2021 the ministry signed a tripartite partnership agreement with the Moroccan Foundation for Financial Education and the Federation of Chambers of Commerce, Industry and Services of Morocco to implement, for the benefit of traders, a program of financial education training mobile payment integration as a core component. In this context, workshops are regularly organized to identify the needs of tenants in financial education, as well as implementation tests of the “Mobile payment” module, in order to better meet the specific needs of these tenants. In addition, training sessions and awareness and information meetings are deployed in your favor.

Commercial website monitoring, an important component

With regard to measures taken by the government to ensure the protection of online consumers, the Ministry of Industry and Commerce has created, since 2016, a control unit for commercial Internet sites in accordance with the provisions of Law No. protective measures, to protect e-consumers from deceptive and fraudulent practices on the Internet.

Thus, more than 500 locations have been inspected since the creation of the unit, which led to the sending of more than 400 warning letters, to encourage the various actors to comply with the provisions of the aforementioned law, and to the preparation of 50 reports against violators.

Sanae Raqui / ECO Inspirations

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