In Morocco, MasterCard and the Center Monétique Interbancaire (CMI) have integrated into their card payment system a process which consists of just approaching their bank card with the electronic payment terminal to settle their bill.
Called Contactless, it is based on NFC (Nearfield Communication or proximity field communication) technology and represents a major evolution in terms of the solutions that the two entities intend to develop to facilitate electronic payment. “The contactless payment that we are launching today with our partner MasterCard is a new step in our common strategy to boost card payment in Morocco,” said Mikael Naciri, Director General of CMI.
The objective is to save time for users but also, according to Mohamed Ben Omar, CEO of MasterCard North Africa, to fight against cash payment which does not promote the traceability of transactions and the informal which is wasteful a lot of money to the Moroccan taxman.
Transactions carried out with this new system do not require the consumer to enter his PIN code for amounts less than 200 Dinars. Beyond this amount, however, this gesture becomes necessary in order to guarantee the safety of the operation.
The CMI has already started the distribution of thousands of contactless payment terminals in several points of sale across the country. The Moroccan Attijariwafa Bank immediately made the system available to its customers to make their purchases.