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July 24, 2019

Wirecard processes online payments for Royal Air Maroc

Royal Air Maroc, the national airline of Morocco, has partnered with German payments firm Wirecard to enable digital payments.

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Wirecard will be responsible for processing the airline’s online Visa, Mastercard and Maestro payments.

At the same time, the German payments firm will manage credit card payments made through travel agency or airline agent ticket transaction settlement systems.

Wirecard vice president of global airline sales Eckart Reiche said: “The large part of air travel bookings are now paid for online and this trend is set to grow exponentially as payments become more digital. In 2018 alone, air travel booked over the Internet generated a revenue of over EUR 360 million worldwide.

“Not only is Morocco a top tourist destination, Casablanca, as the major hub for Royal Air Maroc, connects flights to North and South America, Europe, Africa, the Middle East, and in the near future, Asia.”

Royal Air Maroc has 7.4 million passengers per year.

The airline along with its subsidiaries reported €1.5bn in revenues last year.

Royal Air Maroc CFO Yassine Berrada said: “To reflect our global presence and reach, we are constantly broadening the scope of our service offerings, which includes ensuring a convenient and easy payment experience no matter how our passengers choose to book flights with us.”

Free Report
img

What does the future hold for BNPL market?

The global Buy Now Pay Later (BNPL) market is estimated at a massive $120 million in 2021 – representing just less than 3% of the global ecommerce market. Yet the user-base is massive, with leading provider, Klarna, alone reportedly having 87 million users in 2021. This market is only expected to grow, with established companies like Apple and Goldman Sachs moving into the BNPL sector in bids to capitalize on this trend. To help you make the most of this growing market, GlobalData’s Buy Now Pay Later in 2022 and Beyond report provides detailed insight into the BNPL sector. This report:
  • Discusses the disruptive potential of the BNPL sector on the payments industry
  • Identifies the leading companies that are driving sector growth and the benefits this new payments solution provides to both merchants and consumers
  • Analyzes the consumer’s risk of using BNPL loans and government attempts at introducing regulations to the sector
  • Uncovers the main risks that consumers expose themselves to when borrowing with BNPL
Download this free report to get to know where this developing market is headed, and how you can reshape your strategies.
by GlobalData
Enter your details here to receive your free Report.

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