Doha – The Centre Monétique Interbancaire (CMI), Morocco’s leading online payment service provider, has joined forces with Global Blue to introduce a multi-currency payment service for Moroccan e-commerce websites. This partnership integrates Dynamic Currency Conversion (DCC), allowing international customers to pay in their preferred currencies at current exchange rates.
The service enables Moroccan e-commerce merchants to offer customers the flexibility to complete transactions in major currencies such as the euro, US dollar, British pound, Japanese yen, Canadian dollar, and Swiss franc.
Rachid Saihi, CEO of CMI, highlighted that this new functionality enhances the purchasing experience for international customers, giving Moroccan e-merchants a competitive edge in the global market. According to international studies, 76% of consumers prefer to see and pay the exact amount of their purchase in their own currency, resulting in higher customer satisfaction and smoother transactions.
The e-DCC service, already available on CMI’s electronic payment terminals (EPT), represents a significant opportunity for Moroccan e-commerce businesses. Implementation of the feature has the potential to increase sales by up to 20%, improve conversion rates, and increase average basket amounts. It also offers merchants a rebate that helps reduce international transaction costs.
Amine Temsamani, General Manager of Global Blue Morocco, emphasized the benefits of the partnership, noting that it would provide transparency for foreign cardholders while offering Moroccan e-merchants the chance to increase their sales by delivering a tailored shopping experience for international clients.
The launch coincides with CMI reporting a significant increase in foreign credit card transactions, surpassing MAD 26 billion ($2.6 billion) in 2024, marking a 36% rise compared to the previous year. With over 20 years of experience in providing electronic payment solutions, CMI continues to play a pivotal role in modernizing Morocco’s financial transaction landscape.
Global Blue, a global leader in tourist tax refunds and payment solutions, operates in more than 53 countries worldwide and is a key partner in this initiative.
