In a significant move for Morocco’s fintech sector, Ora Technologies has announced a strategic partnership with Lana Cash and Mastercard to launch an advanced, multi-purpose payment card. The agreement, signed at GITEX Africa 2024 in Marrakech, marks a key development in the country’s push for greater financial inclusion and digital transformation.
Quick Facts
- First Moroccan startup to issue an international payment card.
- Strategic partnership with financial institution Lana Cash and Mastercard.
- Card features an integrated bank account number (RIB) and QR code.
A National First for Moroccan Fintech
This collaboration positions Ora Technologies as the first Moroccan startup to issue an international, multi-use payment card, a milestone for the local ecosystem. The partnership leverages Mastercard’s global network and Lana Cash’s financial infrastructure to bring a new generation of banking products to the market.
“This partnership represents a national first,” said Omar Alami, Founder and CEO of Ora Technologies. He highlighted that his company is breaking new ground by enabling a Moroccan startup to offer globally accepted payment cards.
Integrating Digital Banking with a Physical Card
The card’s design introduces a notable innovation by including the user’s bank account number (RIB) and a unique QR code directly on the back. According to Alami, this feature is designed to simplify digital transactions and accelerate financial onboarding for new users.
This integration of physical and digital banking tools aims to make financial services more accessible and user-friendly, supporting the rapid adoption of digital payments across the Kingdom.
Aligning with Morocco’s National Digital Strategy
The initiative directly supports Morocco’s national vision for a digitized economy, particularly the “E-Morocco for Everyone” program. This government-led project aims to provide all Moroccans with access to digital banking services.
By launching a product that facilitates easier access to the financial system, Ora Technologies and its partners are contributing to the country’s broader goals of modernizing its financial services sector, enhancing the digital economy, and stimulating financial innovation.
About Ora Technologies
Founded in 2020 by Omar Alami, Ora Technologies is a Moroccan fintech company focused on developing next-generation payment solutions. The startup aims to advance financial inclusion and digital transformation within Morocco by creating innovative and accessible financial products.
Source: Detafour
