Visa: E-commerce gaining ground in Morocco | Yalla Finance

Muhammad Touhami El Ouazzani, General Manager of Visa for Morocco, Central and West Africa, said that e-commerce is growing in popularity in Morocco thanks to improving internet infrastructure.
At a press conference in Casablanca, Visa shared the latest business updates in the area of e-payments with business and financial editors. El Ouazzani gave a speech in which he discussed recent developments in Visa?s operations in the market and shed light on current business trends including e-commerce and e-payments
El Ouazzani said, ?Living in a fast-paced environment, consumers all over the world are seeking speed, convenience and safety in their day-to-day financial transactions. These characteristics are the main features of Visa?s wide range of products including Visa debit, credit and pre-paid cards?.
Based on the latest statistics released by CMI, in Morocco, the total number of circulated cards increased by 3.9% over the first quarter of 2011 to more than 7.3 million cards, bringing the total value of card payments to over 1.7 billion Moroccan dirhams. The number of card transactions increased by more than 25% to exceed 39 million transactions while the value of these transactions increased by over 23%, amounting to more than 33 billion Moroccan dirhams. Moreover, the number of ATMs increased over the same period by 3.4% to reach 4,700 ATMs.
Internet use and communications are on the rise in Morocco. Based on recent data published by Nielsen Online, the Internet penetration in Morocco was over 30 % of the total population at the beginning of 2010.
While explaining the situation in Morocco, El Ouazzani emphasised the numerous benefits of e-payments as a key driver for economies worldwide, ?E-commerce in Morocco is increasingly gaining ground due to the improving Internet infrastructures. Currently we are working closely with our clients to promote e-commerce. I am confident that both Moroccan merchants and consumers will join the global trend and enjoy the various benefits of e-commerce; with over 10 million Internet users in Morocco, the potential to grow this business is enormous. ?With the increasing use of mobile phones and other electronic devices, consumers worldwide are gradually migrating to mobile and Internet payments. E-commerce transactions are becoming more popular as consumers and merchants alike realise the numerous benefits they bring. E-commerce helps merchants increase sales, decrease costs and hence raise their profit margins. Moreover, it helps them expand the size of their market across borders. On the other hand, cardholders can enjoy safety, convenience and speed while shopping online with their Visa cards and take advantage of a wider range of shopping offers and discounts.?
According to a study published in December 2010 by the Arab Advisors Group, 63% of the analysed 102 portals selected in the MENA region provide e-commerce services. The report also said that using credit and/or debit cards is the most accepted method of payment with 63% of the analysed 102 portals using it. Bank/wire transfers or cheques and Cash on Delivery options followed with 46% and 44%of portals, respectively.
Last but not least, the summer holiday season will soon kick off, with the tourism industry playing a pivotal role in boosting the national economy. The Moroccan Tourism Report 2010 released by Business Monitor International Ltd., expects to exceed eight million tourists in 2011 with an increase of 7% year on year. Tourism expenditure is expected to constitute 8.9% of the GDP. Morocco is also bolstered by its cost advantage, stable political situation and on-going development in the tourism sector. With a sound e-payment infrastructure, Visa in cooperation with the financial institutions can expand the credit card network making it easier for tourists to pay for products and services.? With the help of e-commerce, tourists can even book their holiday online and enjoy reduced costs and better offerings. All this will help increase the numbers of inbound tourists, provide more job opportunities, inject more foreign currency into the market and ultimately fuel the economy.
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Source: http://yallafinance.com/2011/08/08/visa-e-commerce-gaining-ground-in-morocco/