Digitalization of commerce: Visa & Al Barid Bank join forces with the Ministry of Industry


The Ministry of Industry and Commerce, Visa and Al Barid Bank signed a memorandum of understanding (MoU) on Tuesday in Rabat to accelerate the digitalization of the commerce, distribution and industry sectors in Morocco.

Initialed by the Minister of Industry and Commerce, Ryad Mezzour, the Chairman of the Board of Directors of Al Barid Bank, Al Amine Nejjar, and the Regional Director of Visa for North Africa, the Levant and Pakistan, Leila Serhan , this MoU aims to support the implementation of the ministry’s strategies, particularly in the development and digitalization of the trade and distribution sector.

Through this partnership, the parties undertake to pool their efforts to support the implementation of the ministry’s strategies, by putting in place a joint action plan to help strengthen the empowerment and competitiveness of companies in the transport sector. commerce through, in particular, the acceleration of their digitalization and their financial inclusion.

Speaking on this occasion, Mr. Mezzour indicated that “this partnership is of capital importance and illustrates our continued commitment to accelerating the digital shift in the commerce and distribution sector”, noting that the digitalization of payments represents an effective tool to enable traders to modernize their activities.

“By joining forces with the expertise of the world leader in digital payments and the subject matter expertise of Al Barid Bank, we aspire to achieve financial inclusion for our merchants and Very Small Businesses (VSEs) who will have access to innovative digital solutions likely to optimize their commercial operations, thus strengthening their empowerment and competitiveness,” said the minister.

In this context, Ms. Serhan expressed Visa’s commitment to supporting VSEs, which are a fundamental and essential structure for maintaining the unique and specific character of the Moroccan economy, noting that these represent more than 90 % of Moroccan companies and contribute significantly to the economy, generating more than 20% of the national GDP. “Through our partnership, we are committed to encouraging innovation and supporting Morocco’s progress in technology and trade,” she assured.

For his part, Mr. Nejjar explained that the digitalization of payments and more generally the development of a digital economy, is now part of the era of time, and will allow, beyond the facilitation of transactions, to establish a virtuous economic dynamic, which will naturally increase the income of traders and small businesses.

“It is therefore with pride that Al Barid Bank is committed today alongside the Ministry of Industry and Commerce to make its contribution to the building of a structuring project with a national scope, which aims more largely to promote Morocco as a leading hub for retail tech on an African and global scale,” he added.

As part of this partnership, Al Barid Bank, in its capacity as a citizen bank acting in favor of financial inclusion, the leading issuer of cards but also a player in the field of electronic payment acquisition, is committed alongside VSEs and merchants to support them in their development by providing efficient and intuitive digital solutions covering the entire value chain and designed specifically for these targets.

For Visa, the world leader in digital payments, this partnership is part of its program aimed at accelerating digital transformation in Africa, deploying new innovative technologies and deepening collaboration with its partners in Morocco. Thus, Visa will mobilize all its experience to expand acceptance through innovative digital solutions complemented by the provision of its financial education platforms.

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