HomeEconomy84% of Moroccans interested in a mobile "super application"

84% of Moroccans interested in a mobile “super application”

The vast majority, i.e. 84% of Moroccan consumers have shown a keen interest in innovation and the digitalization of money transfers and would like providers to integrate services into a mobile “super application”, reveals the first Global Transfer Index money from Western Union.

The Global Money Transfer Index developed by Western Union is based on a survey of 30,599 consumers in many African countries, including Kenya, Nigeria, Senegal and also Morocco. It thus asks consumers “how, when and why” they use international money transfer capacities today, as well as their expectations for the future.

According to the study conducted between October 31, 2022 and January 10, 2023, Morocco is the second largest “recipient” market in Africa with an inflow of $11.4 billion in 2022 alone. This report shows that nearly half, or 48%, of recipients in the country fundraise at least once a month.

In addition to the desire to digitize services, 81% of recipients want to collect funds through a prepaid card or an electronic wallet. Moroccan senders would also like money transfer brands to better meet their needs.

On the one hand, the main source of frustration for these consumers is filling out and verifying forms repeatedly despite being regular customers (72%), on the other hand, 86% say they want instant registration and reliably using biometrics or facial recognition.

Providers have a responsibility to offer consumers options when transferring money, regardless of their level of digital sophistication“, said Mohamed Touhami El Ouazzani, Regional Vice President of Western Union-Africa.

The Index reflects Morocco’s status as a key economic player in Africa and as an emerging economy globally. This reinforces the need for innovative services as an efficient way for consumers to transfer money and support their families.” , he added.

Furthermore, 24% of recipients currently opt for fully digital services to collect their money, 38% opt for the choice between in-person and digital platforms, while 30% collect their money only by going to branches, reveals the report.

By contrast, 64% of these recipients, when asked about the future, insist on having a choice of platforms, while those currently using digital-only services are even less likely to say they will ‘future, its latest rate stands at 19%.

According to the index, trust is identified as the main barrier to greater adoption of digital money transfer services (24%) among all consumers in Morocco, as is the preference for personal interaction “in face to face” when receiving or sending money (21%).

With a rapidly changing consumer landscape, it is important to develop capabilities that meet consumer needs. If consumers want to be able to choose how and when they send or receive money, it is important to offer solutions that promote economic prosperity by allowing people to transparently manage their financial lives.“said El Ouazzani.



Please enter your comment!
Please enter your name here