Moroccan residents made more than 10 million card payments in July, an all-time record with a total value of an estimated 10.13 million, according to the Interbank Electronic Banking Center (CMI).
Either for e-commerce websites or other services, the use of Moroccan cards exceeded for the first time the number of transactions carried out per one month.
The COVID-19 pandemic drove a lot of everyday purchases to move online, changing spending habits as fewer people went for physical shopping trips. Concern over the transmission of the virus via coins and notes drove more consumers to opt for contactless paying options.
The opening of Moroccan borders in June, with the Moroccan airways RAM introducing a drastic decrease in the prices, pushing Moroccans living abroad and tourists to come to Morocco and subsequently play a role in raising the accelerated trend of card transactions.
A Visa-HPS survey called Stay Secure 2021, targeting Moroccan users of Social media Facebook and Instagram, confirmed the positive impact of the COVID-19 pandemic on digital payments. The survey showed the use of cash decreased by 86% for purchases done in stores or for deliveries during the COVID-19 pandemic.
Likewise, the study shows that more than 84% of consumers trust in the use of contactless bank cards for purchases or deliveries based on speed (62%), avoiding contact (46%), convenience (43%), the innovation in terms of payment (40%), and transparency (22%).
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