PayPal, is finally going to arrive in Morocco. For a long time Moroccans have had problems making payments with credit cards and those days will soon be over.
According to Khachani Ismail, CEO of E-Commerce Council, quoted on Morocco Board, "Online Buyers and sellers can make and receive payments through e-mail, quickly and in a secure manner. This product aims to liaise consumers and businesses, key accounts and TPE. It offers a Moroccan merchant payment solution fast, flexible, integrated and secure way to expand their Internet activities without sharing the credit card information or sensitive data" he said.
"There are over 500,000 sites worldwide offering this form of payment, which should allow commercial sites to have a Moroccan international exposure through this service that is available in 190 countries", he added.
This service is a new driver of economic development and will be a source of foreign exchange earnings generated by the use of its services by more than 230 million consumers, particularly in the tourism sector.
"Morocco is one of the key markets of the MENA region, evidenced by the development of e-commerce, government support plans, the Internet penetration rate is highest in Africa ( 33 pc) and the number of Moroccans with Internet access has increased by over 80 pc in 2006", he said.
"This service will participate, in collaboration with Moroccan banks, to the growth of e-commerce and help optimize the use of the credit card for online payments, which will improve the level of national banking" said Khachani.
A Moroccan consumers may, from the first half of 2012, open an account and use, through a Moroccan bank account, PayPal services, which has generated a volume of $ 92 billion in 2010.