MasterCard announced on Monday the appointment of M2M SPS as its principal member in Morocco as part of its effort to bolster the country’s electronic payments acceptance infrastructure.
M2M SPS, a provider of e-transaction processing solutions, will allow its customers to leverage MasterCard’s capabilities across a number of merchants and e-commerce outlets. MasterCard will provide several advanced value-added services, technical support, training and new payment platforms.
“Electronic payment solutions are becoming increasingly popular across the North Africa region, as more and more consumers tend to adopt and conduct cashless transactions in their daily activities,” Faissal Khdiri, the vice president and regional manager of MasterCard’s North and French Speaking Sub-Sahara Africa division, said. “Today’s agreement with M2M SPS will enable MasterCard to further support the growth of electronic transactions with state-of-the-art technology solutions, and open up new channels for merchants, which can drive new revenue streams for their businesses, especially in popular sectors such as the transit system and small groceries.”
The collaborative effort will boost MasterCard’s point of sale across Morocco and help it to introduce new contactless payments technology.
“As a leading provider of secure processing solutions, M2M SPS is keen to remain at the forefront of technology and business innovation,” M2M CEO Mounir Essayegh said. “We are confident that our strategic alliance with MasterCard will not only help us leverage an intense industry expertise in the Issuing and Acquiring segment in Morocco, but also help drive applied innovation and build strong presence in the electronic payments landscape in the North Africa region.”