Cellular payments are finally available in Morocco

This Tuesday, November 13, the bank inaugurated a mobile payment device for smartphones. Telephone operators will take the lead in the coming days.

Payment, transfer and withdrawal services but also opening and consulting accounts, payment of money and payments at the merchant will be possible now, including in the process of standardizing payments by simple telephone numbers or QR code entries.

This is what was said The Economist on delivery on Monday, November 12, provided that Maroc Telecom and Orange have experimented with mobile payments, especially in sub-Saharan Africa.

The productive sector of mobile payments has caused banks to seek institutional approval to position themselves as strong competitors against other players. And for good reason, the newspaper reports that diversified market operations will represent 400 billion DH initially.

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In addition to smartphone holders, customers are already well-known telephone operators, the main problem being integrating 14 million Moroccans who still do not benefit from financial services, according to the newspaper denouncing the dominance of cash payments.

Especially because management of cash payments is expensive, or 8 billion dirhams per year, half of which is supported by banks. An incentive campaign for digital channels will be implemented, especially with agribusiness companies that work a lot with cash.