Crédit Agricole du Maroc (CAM) has signed a long-term strategic partnership with Mastercard in order to bring new technologies, new products and services to the Moroccan market to make everyday transactions easy, transparent and secure.
CAM thus became the first bank in Africa to launch a bank card digitization service on e-commerce websites that support the “MDES Merchant” standard, CAM and Mastercard noted in a joint press release.
Through this agreement, CAM aims to create more value for both individual and professional customers by offering them innovative payment solutions, the same source adds.
+ CAM PAY, a mobile payment solution +
In this context, the bank launched “CAM PAY”, a mobile payment solution that allows customers to digitize their bank card to pay for their purchases via a smartphone, in Morocco and abroad, says the press release. All of its customers who hold a Mastercard bank card and have an Android mobile device using Near Field Communications (NFC) technology can easily take advantage of this solution.
CAM, with its new digital payment platform, is committed to pushing for the future and positioning itself as a pioneer and forerunner in the field. Abdel Moneim Denia, Managing Director of CAM Executive Board, noted in the press release that our customers can now protect themselves from attacks on e-commerce sites that lead to bank data breaches.
In addition, this partnership with Mastercard reinforces the Crédit Agricole Group’s strategy and commitment in Morocco in favor of financial inclusion, particularly via digital, and underscores the group’s desire to meet the new needs of the Moroccan market of individuals and professionals.
+ “Payment Channel Expansion Service” +
“We are pleased to partner with Mastercard to offer this new service, which expands the payment channels established by Crédit Agricole du Maroc as part of our multi-channel strategy, in order to provide a fast, secure and efficient service to customers,” added Mr. Denia.
And to support: “CAM is more committed than ever to promoting innovative banking services in Morocco, in particular by promoting mobile payments and diversifying payment channels.”
“We have witnessed a massive shift in customer behavior towards digital and contactless payment channels over the past two years. “Secure token technology allows customers to use a mobile phone or connected device to make payments securely and conveniently using secure token technology,” said Mohamed Benomar, Regional Director of MasterCard for North Africa. NFC online, via the app or in the store.
He explained that these convenient payment mechanisms provide retailers with the ability to meet the needs of consumers by eliminating the requirement to carry cash, queue at stores to pay, carry a wallet or remember multiple passwords to make a payment.
+ Unique and exclusive features +
Other innovative solutions will be introduced, including the prestigious World Elite biometric card, the launch of which is the first of its kind in North Africa. It features an in-display fingerprint sensor that provides an extra layer of security to easily verify a card holder’s identity for in-store purchases.
“By leveraging Mastercard technology, Crédit Agricole du Maroc Mastercard World Elite customers can access unique and exclusive benefits, such as concierge services, travel insurance and access to airport lounges.” , notes the press release.
With “CAM PAY” and a digital payment platform that supports the “MDES for Merchants” standard, CAM is the first bank in Africa to firmly adhere to the payment path for the future defined by EMVco’s “Click To Pay” standard (Europay MasterCard Visa Consortium), concludes the press release .