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Mpay Forum: “The future of payment will be mobile”

As part of the “Digital African Tour”, the 3rd edition of the “Mpay Forum” was held on June 12 in Casablanca. This edition raises a crucial question: “Will the future of payment be mobile?”

The future of payment will undoubtedly be mobile. The proof: the rate of equipment in smartphones is today much higher than the rate of banking. Moreover, in Morocco, the “Center Monétique Interbancaire” (CMI) specifies that the evolution of payments over the Internet over the last 3 years, has achieved a jump of 235% in number and has multiplied by 1.5 in terms of amount. Taking into account this remarkable and remarkable development, the study and financial forecasts department, in its recently published report, recommends to tie in with the new changes in the African banking landscape, marked in particular by the emergence of mobile money.

In the same vein, HPS Founder Mohammed Horani noted that solutions and products will be offered by banks and payment institutions to boost mobile payment in Morocco. “Currently, HPS has the status of a payment institution,” he said, noting that there is also “what are known as payment institutions governed by much less demanding rules compared to banks and who can contribute to and be active in the field of mobile payment”.

For his part, Francis Meston, Group Executive Vice President of ATOS, international leader in digital transformation believes that the “Kingdom has all the advantages in terms of mobile payment. Including an interoperable banking system, a smartphone equipment rate that is very important and a remarkable boost of Fintech in the country. Potential over which, over the next five years, the World Bank intends to become part of the evolution of the Kingdom by accompanying it in its development of an inclusive financial sector and a competitive digital economy with an envelope overall investment of MAD 6.6 billion”.

This forum is also an initiative to enable the production of scientific added value “made in Africa”, “networker” and inquire about the progress of the continent on various aspects related to digital. “The services of mobile banks continue to progress: a rather shy development in the Maghreb but more sustained elsewhere especially in the countries of ECOWAS with edifying numbers: 104.5 million mobile money accounts in 2017 with a 2-digit evolution from year to year. In 2018, according to the GSMA, 48% of mobile money users in the world are Africans,” says Saloua Karkri-Belkeziz, president of the Moroccan Federation of Information Technologies, Telecommunications and Offshoring (APEBI), organizer of the event in partnership with CIOMag and the Digital Development Agency (ADD).

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