Currently, almost every online business allow their customer to make payment through credit cards. It is one of the most popular and convenient payment methods in the world. Today, most customers prefer credit cards to make payments online. So, to increase the sales of your online businesses the merchant must have credit card processing in Morocco.
But, only having credit card processing is not enough. As a merchant, you also need a suitable payment gateway and merchant account. As of recent studies, approx 34% of online payments are made through credit cards. According to Statista data – With 60 percent of all online transactions in Morocco in 2022, Visa was the most popular payment method there. Local programs and MasterCard came in second and accounted for 12 and 28 percent of the overall market, respectively.
Merchants and other businesses must keep up with new legislation because the payment processing industry has seen such a big transformation recently. The direct deposit of debit/credit card transaction data into the merchant’s bank account is made possible by payment processing integration.
For their online companies, merchants must now have credit card processing because doing so will boost their sales and, ultimately, their earnings.
Let’s take a closer look at Credit card processing Morocco.
What is Credit Card Processing Morocco?
The credit card company and merchant websites communicate with one another through a credit card processor. It is in charge of moving money from the client’s credit account to the merchant accounts.
The credit card processor will begin processing the transactions as soon as the customer submits their card information before transferring the money to the business account. Its main duty is to send the bank customer-sensitive data from the customer cards.
In other words, authenticating, approving, and transferring funds in payment transactions are the core functions of credit card processing.
Why Credit Card Processing in Morocco is Important For Online Businesses?
Today, most customers prefer credit cards to make online payments. According to a 2021 Statista analysis, Visa payment cards were used for an expected 188 billion global purchase transactions in 2020. Even more credit card issuers are not included in this.
So, as a merchant, it is your responsibility to provide your customers with preferable payment solutions. Offering your customer their preferable payment options like accepting credit cards from worldwide can efficiently boost your business sales.
Credit card processing is also needed for processing card payments for customers quickly and securely. You may give your customers a satisfying checkout experience by collaborating with credit card processing companies like PayCly. Customers are more inclined to make repeat purchases and adhere to your brand if they have faith in the reliability and safety of your company.
Are Payment Gateways and Merchant Accounts Required to Accept Credit Card Payments?
To complete an online purchase, you’ll need a merchant account and a payment gateway. The idea that companies require a payment gateway or a merchant account to accept online payments is untrue. For a single payment method, the use of a merchant account, a payment gateway, and credit card processing are typically necessary.
A piece of technology called a payment gateway is required to take payments online. Once a transaction clears, a link between the customer’s bank account and your merchant account enables the transfer of funds. On the other side, client funds are first deposited into a business bank account called a merchant account.
All online businesses require a merchant account because buyers deposit money into these accounts. After the payment has been verified, the money is sent to the company’s bank accounts. Each online business must therefore have a merchant account and payment gateway that are suitable for their purposes.
What Are The Processing Costs For Credit Cards?
In general, it is a fee that merchants pay to financial service providers and credit card companies for the successful authorization and completion of the card transaction. The fees of processing credit cards for each transaction shall be borne by the merchant. The merchant discount rate is another term for it. The following costs are frequently covered.
- Interchange Fees – It is a charge that is given to the issuing bank. The bank in charge of the credit card used for the purchase is the issuing bank.
- Assessment Fees – This charge goes to the card networks, which include Visa, MasterCard, Discover, and American Express.
- Payment Processing Fees – These fees go to the processor, who provides for the processing of credit card payments for your company.
At the end of each month, the payment processor either directly deducts the credit card processing fee from your account or reduces the cost of each deposit by the appropriate amount.
Start To Accept Credit Card Payments in Morocco
The impact a reliable credit card processor may have on your company cannot be disputed. Working with a trustworthy company that can manage everything from accepting a wide range of preferred payment options to guaranteeing rapid checkout for customers is crucial for your online business.
In Morocco, you can only get limited options. Most of the U.S based companies deny offering their service in Morocco because there is a high instance of credit card fraud. So, it is essential to go with a reputable service provider that offers full security for your business.
As a merchant, you can choose PayCly as your credit card processing in Morocco. It deals with all types of businesses and also offers full security to the merchant as well as clients. With PayCly, the merchant needs to focus on their business growth rather than any other things.
Why Choose PayCly for Credit Card Processing in Morocco?
Offering a certain degree of service is PayCly’s main goal. We take the time to comprehend each of our merchants’ unique demands so that we may provide solutions that are unique to their particular circumstances.
Like other businesses, our growth depends on our many happy and satisfied customers and we will keep working hard to gain more profit for your business. At the most affordable prices, PayCly provides debit and credit card processing not only in Morocco but also in other countries. We can assist with a better deal if you already have experience processing merchant cards.
Contact us right away to open your merchant account and begin accepting credit cards for your Moroccan company. You can also contact us through mail or live chat. Our expert team is always ready to serve you.
Final Thoughts –
Since accepting credit cards is one of the most important elements in the purchasing process for every customer. It is crucial for any online business. You must understand that only having credit card processing is not sufficient to accept credit card payments. Along with the credit card processing, you also need a merchant account and payment gateway.
In Morocco, you can get limited options. So, we recommend you go with our preferable credit card processing and which is PayCly. With PayCly, you can get complete solutions for your online businesses. It offers you futuristic security measurement tools which help you to gain more and more profits for your businesses.
Feel free to contact us through mail – info@paycly.com or directly drop your query here – https://paycly.com/apply-now.php any time to know more about our services.
