25-Sep-19, The Paypers
Even as the total ecommerce activity in Morocco only totaled USD 244 million in 2017, the size of Morocco’s market is expected to grow at a 40% compound annual growth rate (CAGR) over the next five years, according to AMI and Global Growth Markets analysis.
One of Morocco’s distinguishing features compared to other emerging markets is that over 50% of the population have bank accounts. The catch is that 74% of ecommerce payments take the form of cash. The rest is a mix of domestic credit cards, representing 15%, with international credit cards (5%), debit cards (3%), digital wallets (2%), and bank transfers (1%).
Payment preferences also differ quite a bit depending on the type of purchase. For instance, when buying products online, nearly all of the transactions (96%) were completed through cash payments. When paying for travel accommodations on the other hand, Moroccans are far more likely to utilise credit cards.