The Centre Monétique Interbancaire (CMI) continues to innovate in the field of electronic payments in Morocco by introducing a multi-currency payment service on national e-commerce platforms. This initiative, carried out in collaboration with Global Blue, a specialist in tourist tax refunds and payment solutions, aims to provide an optimized and simplified shopping experience for international customers.
A major breakthrough for Moroccan e-commerce
With the integration of Dynamic Currency Conversion (DCC), foreign buyers can now complete their online purchases in the currency of their choice. This service ensures full transparency on the exchange rate applied, enhancing consumer confidence and reducing obstacles related to currency conversions.
“This new payment option will allow Moroccan e-merchants to better meet the expectations of their international customers by offering them the possibility to pay in their own currency. Studies show that 76% of consumers prefer to see and pay an exact amount in their local currency, contributing to a better user experience,” highlights Rachid Saihi, General Manager of CMI.
A growth driver for Moroccan e-merchants
Already available on CMI’s electronic payment terminals (EPTs), the e-DCC solution is now expanding to online commerce. It allows international customers to make payments in major currencies such as the euro (EUR), US dollar (USD), British pound (GBP), or Japanese yen (JPY), among others.
This innovation represents a significant opportunity for Moroccan e-merchants, offering them the ability to increase their conversion rate and boost the average value of shopping carts. International studies estimate that such functionality can generate a sales increase of up to 20%. Additionally, thanks to a retrocession mechanism, merchants benefit from a reduction in costs associated with international transactions.
Amine Temsamani, General Manager of Global Blue Morocco, emphasizes the strategic impact of this initiative: “This partnership enhances payment transparency for foreign cardholders and provides Moroccan merchants with a key advantage to attract a demanding international clientele.”
A surge in foreign payments
The Moroccan electronic payments market is experiencing rapid growth, particularly through transactions made with foreign cards. In 2024, these transactions exceeded 26 billion dirhams, marking a 36% increase compared to the previous year.
This trend confirms the growing interest of international visitors in the services and products offered by Moroccan businesses. By integrating payment solutions tailored to this clientele’s needs, CMI positions itself as a key player in the modernization of e-commerce in Morocco.
About CMI and Global Blue
The Centre Monétique Interbancaire (CMI) is a leader in multi-channel payments in Morocco, providing advanced electronic payment solutions for over 20 years. With its expertise and cutting-edge infrastructure, it plays a crucial role in the digital transformation of Morocco’s financial sector. Global Blue, present in over 53 countries, is a major player in tax-free shopping and dynamic currency conversion solutions, helping merchants optimize their sales and enhance the shopping experience for international consumers.
