[Morocco] Al Barid bank Launches 1st Fully-Digital Credit Card
Branded “KLIK Visa E-card,” the card is available exclusively on the Barid Bank Mobile application. It can be used to make national and international payments.
The digital bank card allows users to make purchases over the internet in a similar way to regular bank cards. It includes a card number and a three-number card security code.
Contrary to the majority of regular bank cards in Morocco, KLIK Visa E-card is not necessarily linked to a checking account. Instead, it can be separately recharged and used like a prepaid card.
“This is an integrated service with the Barid Bank Mobile app. The KLIK Visa E-card is an Al Barid Bank exclusive, with fully digital services,” the financial institution announced.
“This product differs from existing offers on the market insofar as it targets both national and international e-commerce and perfectly meets the needs of our customers in terms of internet payment, convenience, and accessibility,” said Najm-Eddine Redouane, the bank’s chairman.
According to Redouane, the new card is part of Al Barid Bank’s strategy for financial inclusion, seeking to digitize and simplify access to banking services for all citizens, while maintaining the security of their transactions.
The new card appears to be an attempt to build up on the unprecedented rise in the use of digital payment services in Morocco during the COVID-19 pandemic.
According to Morocco’s Interbank Electronic Banking Center (CMI), the number of e-commerce transactions made by Moroccan bank cards reached 1.4 million in 2020. The figure represents a 43% increase compared to 2019.