Morocco’s E-commerce soars with over 135 million transactions

Merchants and e-commerce platforms registered a total of 135.3 million transactions according to a recent report by the Interbank Electronic Banking Center activity in Morocco.

These transactions were made through Moroccan and foreign bank cards, amounting to MAD 58.8 billion during the first nine months of 2023.

The report states that the e-commerce sector witnessed a significant increase, with a 24.6% rise in the number of transactions and a 26.5% increase in the financial value compared to the end of September 2022.

Commercial websites and electronic invoice platforms affiliated with the Monetary Center registered 25.2 million electronic transactions using Moroccan and foreign bank cards, totaling MAD 8.7 billion.

This marked a 23.4% increase in transaction numbers and a 23.6% increase in value.

Electronic performance using Moroccan bank cards saw a tangible growth of 21.8% in transaction numbers, reaching 23.8 million transactions by the end of September last year. In terms of financial value, there was a 17.2% increase, reaching 7.6 billion dirhams.

As for electronic transactions with foreign bank cards, there was a notable surge of 57.8% in transaction numbers, totaling 1.4 million transactions, and a 91.2% increase in financial value, reaching 1.2 billion dirhams.

Moroccan bank cards continue to dominate the activity, constituting 94.3% of transactions and 86.7% of the total value.

The report noted that banks have issued a total of 20 million cards as of September 2023, marking a 4.9% increase compared to December 2022.

The report ranked the cities best equipped with ATMa with Casablanca topping the list with a total of 1,593 , Marrakech (695), Rabat (617), Tangier (478), Agadir (449), and Fes (390).

The ATM system facilitated a total of 309.1 million withdrawal transactions through Moroccan and foreign bank cards, marking a 13.5% increase.

The total value of these transactions amounted to MAD 311.5 billion, reflecting a growth of 15.7%.

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