The Moroccan e-commerce sector is reaching a new milestone with the launch of a multi-currency payment solution by the Centre Monétique Interbancaire (CMI) in partnership with Global Blue, a world leader in tax-free shopping and payment solutions. This innovation allows Moroccan online merchants to integrate a Dynamic Currency Conversion (DCC) feature, transforming the shopping experience for international customers.
With this new system, foreign buyers can now pay in their own currency when shopping online, providing greater transparency on final costs while ensuring they receive the best exchange rate of the day. This marks a major advancement in the local e-commerce landscape, making transactions smoother and more convenient for international shoppers.
For Moroccan e-merchants, this solution presents a strategic opportunity. “This new feature will improve the shopping experience for international customers and enhance the global competitiveness of e-merchants. Studies show that around 76% of consumers prefer to see and pay the exact amount in their own currency,” explains Rachid Saihi, CEO of CMI.
By making online payments more accessible and user-friendly, this feature is expected to boost sales for Moroccan e-commerce businesses by up to 20%, according to international benchmarks. The e-DCC solution not only increases conversion rates but also raises the average shopping cart value, offering merchants a powerful tool to attract more global customers.
Already available on CMI’s electronic payment terminals (TPEs), this functionality is now being extended to e-commerce platforms, supporting a wide range of currencies including the euro (EUR), US dollar (USD), British pound (GBP), Japanese yen (JPY), Canadian dollar (CAD), and Swiss franc (CHF). This broad coverage caters to an increasingly diverse international clientele.
The rise of foreign currency payments represents a significant advancement for Morocco’s digital commerce ecosystem. In 2024, foreign credit cards recorded a transaction volume exceeding 26 billion dirhams, a 36% increase compared to the previous year.
For Amine Temsamani, CEO of Global Blue Morocco, this partnership is more than just a technological upgrade. “This strengthened alliance with CMI will not only provide full transparency for international cardholders but also help Moroccan e-merchants increase their sales by offering a personalized shopping experience tailored to the expectations of global customers.”
