Although still new to many Moroccans, “contactless” bank payment has increased sharply during the Covid-19 period. A trend that should accelerate in the coming months because of its sanitary and practical aspects.
Slow less than two years ago, the contactless payment activity using bank cards has accelerated sharply with the Covid-19 pandemic. According to recent statistics made public by the interbank electronic banking center, this activity experienced strong growth in 2021, with a percentage of 32.5% in number and 15.7% in amount. Before the Covid, it was only 9% in number and 3.7% in amount.
The evolution between the two periods is therefore remarkable. The adoption of this new payment method undoubtedly responds to an exceptional health situation that requires that payment transactions should take place without contact in order to fight against the spread of the virus. But the amounts authorized through this new mode do not exceed 600 dirhams per transaction for all the banks in the market. This relatively limits the recourse for payments exceeding this amount.
A trend that should increase
Another important and not the least important shortcoming: in the event of theft or loss of the card, there is a proven risk of fraudulent use if the owner does not quickly object to the payment. menu. Anyway, this new payment method has revolutionized purchasing habits among Moroccan consumers. According to the deputy director-general of the CMI, Ismail Bellali, “this trend should increase in the coming months and we expect even larger figures in relation to the use of this method of payment”. Cards issued by Moroccan banks reached an outstanding of 18 million cards, including almost 10 million cards with “contactless” functionality.
More generally, the achievements of the electronic payment activity in Morocco reached 326 million transactions for a total of 275 billion dirhams for the first nine months of 2021.
This activity, which includes cash withdrawal operations on the ATM network, payment operations with merchants and e-merchants, payment operations on ATMs and Cash Advance operations, by bank cards Moroccan and foreign in Morocco, shows an increase of 19% in a number of operations and 16.7% in amount compared to the same period of the year 2020.
Regarding Moroccan cards, they recorded, in payments and withdrawals, 317 million transactions for an amount of 264.5 billion dirhams, an increase of 19.1% in a number of transactions and 16.8% in the total amount of transactions. Regarding Moroccan cards with international validity, they carried out 9.1 million foreign currency transactions abroad or on foreign merchant sites, withdrawals and payments, for a total amount of 3.8 billion dirhams, up 22% in a number of operations and 18% in amount compared to the same period of 2020.
