馃嚥馃嚘MoroccoNorth Africa
Visa aims to accelerate digital payment adoption in Morocco
via Le Matin5 min read
Visa is working to advance digital payments in Morocco, celebrating 20 years since opening its office in the country. The company has expanded its local team and collaborated with the government, regulators, public entities, financial institutions, and fintechs to introduce technologies like contactless payments and X-Pays solutions Apple Pay, Google Pay, making Morocco the first North African country to adopt them. Despite these advancements, a major challenge remains the prevalence of cash, which hinders economic formalization. Over 18 million bank cards are in circulation, yet 63% of card transactions are cash withdrawals, representing 78% in value. This is partly due to over 40% of small businesses relying exclusively on cash. Visa aims to demonstrate that digital payments are not a cost but offer benefits by reducing hidden cash management expenses. A significant underestimated opportunity lies in the mass digitalization of very small, small, and medium-sized enterprises VSEs, SMEs. Visa's "Value of Acceptance" study identified 1.2 million addressable Moroccan businesses. A 10% increase in payment digitization can boost GDP by 0.5% to 1%. For SMEs, adopting digital acceptance solutions like Tap to Phone can lead to revenue increases of up to 30%. Visa has invested $3.3 billion in AI and data infrastructure over the last decade to ensure security, blocking $40 billion in fraudulent payments and preventing 80 million illicit transactions globally in 2024. Technologies like
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Mr. Akhannouch, representing King Mohammed VI, offered condolences to the Emir of Qatar, His Highness Sheikh Tamim Bin Hamad Al-Thani, following the death of his father, His Highness Sheikh Hamad Bin Khalifa Al-Thani. During an audience at Lusail Palace, Mr. Akhannouch delivered a message of condolences and sympathy from the King. The Emir of Qatar expressed gratitude to King Mohammed VI and highlighted the strong personal ties and solid relations between Qatar and Morocco. The Moroccan delegation included the Minister of Foreign Affairs, African Cooperation and Moroccan Expatriates, Mr. Nasser Bourita, and His Majesty the King's Ambassador to Qatar, Mr. Mohamed Setri. In his message, King Mohammed VI conveyed his deep sorrow over the loss and extended his sincerest condolences to His Highness, the princely family, and the Qatari people.
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The 14th congress of the Istiqlalian Youth, held under the theme "Empowerment now, towards a new social contract," focused on redefining the role, achievements, and limitations of the Istiqlal Youth organization. Nizar Baraka, Secretary General of the Istiqlal Party, urged the organization to critically assess its journey and adapt to societal changes. A national survey initiated on January 11, 2025, involving over 15,000 young people, revealed a disconnect between youth and political parties. Baraka emphasized the importance of youth engagement, stating, "We do not want a youth that remains a spectator of what is happening around it. We want a youth conscious of its responsibility towards the homeland, convinced that it can change the realities it experiences in its country." The survey results informed a roadmap for the party, prioritizing access to employment, healthcare, education, training, reducing regional inequalities, developing digital and AI skills, supporting youth initiatives, and increasing youth participation in public decision-making. Baraka highlighted that Moroccan youth possess competence, patriotism, and ambition, requiring genuine opportunities to contribute. He advocated for political and institutional action as the sole path to change, urging youth to engage with parties, institutions, and public decision-making bodies. Beyond youth issues, Baraka outlined five commitments adopted by the national council: protecting family and Moroccan values, defending