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Home What is the payment processor in Morocco?
10 Jul 2024 By PAYCEC
In Morocco, an online payment funnel starts with the payment gateway, the user interface for online purchases. It is the first thing that customers interact with, and it is there to collect their credit card information and send it off for processing.
One of the best examples of a payment gateway in Morocco is the CMI (Centre Monétique Interbancaire), which can authorize, route, and gather transactions, ultimately simplifying collecting payment details for merchants and cardholders.
It works with banks and partners to include the CMI card, the Fatourati payment system, and reward programs, which are particularly compelling to unbanked users.
Once the gateway has done its job, the payment processor works in the background to transmit payment information between card-issuing banks and financial networks such as Visa and MasterCard. After receiving approvals, it will settle payments into the merchant's account.
In addition to processing UPI transfers and credit/debit cards, F-Pay, for example, allows Aadhaar Enabled Payment System (AEPS) transactions and Equated Monthly Installments (EMIs) to help merchants cater to customers of various geographies and demographics.
In short, while the gateway and processor in Morocco are separate entities playing different roles, only by working closely together can they shine as primary conductors of financial transfers. Therefore, the secret to collecting payments with new levels of efficiency is knowing how to use each tool separately and synergistically.
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