Mastercard, in cooperation with Cash Plus, has issued the first international electronic card in the Moroccan fintech industry.
The electronic card linked to the Cash Plus mobile wallet is a secure alternative payment method for those who buy goods online on international Internet platforms. This map is 100% digitized. It can be used only through the Cash Plus mobile app.
Cardholders can set payment limits, and apply to block or cancel them in real-time. The cooperation between Mastercard and Cash Plus will provide access to digital financial services to a significant part of the population of Morocco and will become the basis for the further development of the fintech industry in this country.
Cash Plus is a payment institution approved by Al-Maghreb Bank in 2018. The priority of the financial organization is the availability of services for the entire population of Morocco. Cash Plus provides customers with the opportunity to open a payment account without preconditions in the form of a mandatory fee for this action or management fees.
Mastercard is a privileged partner of financial technologies such as Cash Plus in Morocco and abroad and supports new players at all stages of their development. The company’s approach to supporting fintech is based on a common mission of inclusive growth.
Mastercard is helping a global network of innovators to support a more inclusive and sustainable digital economy. This activity is carried out within the framework of achieving the goal of increasing the number of participants in the digital economy to one billion people by 2025.
Mohammed Benomar, Mastercard’s General manager for MENA West countries, says that cooperation will diversify the Cash Plus offer and provide a more convenient and simple customer experience. He also noted that thanks to this project, Mastercard continues to use multi-channel opportunities to create more competitive and innovative local solutions.
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