Economy

Morocco's E-Commerce Hits a Milestone with 135 Million Transactions

Monday 27 November 2023 - 13:00

By: Dakir Madiha

Morocco's E-Commerce Hits a Milestone with 135 Million Transactions

In a groundbreaking report, the Interbank Electronic Banking Center reveals a staggering 135.3 million transactions in Morocco's digital commerce sector, marking a revolutionary turn.

The financial impact is evident, with transactions using Moroccan and international bank cards totaling MAD 58.8 billion in the first nine months of 2023, showcasing a 26.5% surge in value and a substantial 24.6% increase in volumes since September 2022.

Monetary Center-affiliated platforms facilitated 25.2 million electronic transactions, totaling MAD 8.7 billion—an impressive 23.4% increase in transactions and a corresponding 23.6% boost in value.

Further analysis shows a commendable 21.8% increase in transactions via Moroccan bank cards, reaching 23.8 million by September 2022, with a 17.2% rise in financial value, totaling 7.6 billion dirhams.

Transactions with foreign bank cards saw a remarkable 57.8% increase, totaling 1.4 million transactions, and a staggering 91.2% surge in financial value, reaching 1.2 billion dirhams.

Moroccan bank cards dominate with 94.3% of transactions and 86.7% of the value. The report notes a 4.9% increase in card issuance, totaling 20 million cards by September 2023.

Cities equipped with ATMs: Casablanca (1,593), Marrakech (695), Rabat (617), Tangier (478), Agadir (449), and Fes (390).

The ATM network facilitated 309.1 million withdrawals, totaling MAD 311.5 billion, reflecting a 15.7% surge in value and a 13.5% increase in transaction volumes. Morocco is not just undergoing a digital revolution; it's thriving and reshaping the nation's financial landscape with each transaction.