Population of 36.3 million and a YoY growth rate of 1.2%
Morocco is one of the most interesting markets in Africa for digital merchants. It has close relationship with major economies in the EU.
A dynamic population with a median age of 27 years
GDP of USD 126 billion in 2021 expected to grow to USD 167 billion in 2026
GDP per capita of USD 3,470 in 2021 is expected to grow to USD 4,380 in 2026
12.3 Million have purchased goods online in 2020
74.4% Online Users
59.3% Active on social media
98.1% Aged 16 to 64 own a smartphone
27.6 Million Internet users (+9.1% YoY)
1 USD Billion online consumer goods sales in 2020 (+28% YoY)
Mobile internet is faster than fix internet connections in Morocco
Moroccans prefer to pay with Cash or Cash like payment methods such as Cash Plus.
Any cross-border merchant must offer its consumers Cash like payment methods to eliminate drop offs due to missing payment methods on its billing page.
Cross Switch enables any cross-border merchant to offer all locally available payment methods to its customers.
International branded Credit and Debit Cards
Local Branded Cards - CMI
Cash Payment Methods
How Cross Switch Can Help
Merchants can increase its revenues, depending on the product category up to 100% via
- Higher conversion rates of credit and debit card processing
- Additional local payment methods
- Cross Switch handles the local tax reporting including settlement without the merchant being registered in Morocco
- Cross Switch manages all local fx conversion approvals and repatriates sales proceeds to the merchant bank account outside of Morocco in any currency