Visa, the Moroccan fintech Zazu, and the e-commerce platform Chari have jointly launched the first entirely digital business account for small and medium-sized enterprises in Morocco. The product, announced in April 2026, allows merchants to open an account remotely using only their national identity card, providing immediate access to a virtual Visa card for online payments and supplier settlements. The initiative is designed to serve the country's vast network of informal and small formal businesses, which have traditionally operated on a cash basis.
The account is issued through a partnership where Zazu provides the digital banking infrastructure and Chari offers access to its extensive network of over 50,000 small shop owners, known as *hanouts*. Visa’s role is to supply the payment rails, enabling the virtual card functionality. This model allows a merchant to sign up and begin transacting within minutes, a significant departure from traditional business banking processes in the region that often involve physical branch visits and extensive paperwork.
Morocco presents a specific challenge and opportunity for digital financial services. While mobile money has seen substantial growth in other African markets like Kenya and Ghana, its adoption in Morocco has been more measured. The country's financial inclusion strategy has increasingly focused on digital pathways, with the central bank promoting initiatives to reduce cash dependency. This new account directly addresses a gap in the market for formal, digital financial tools tailored to micro-entrepreneurs who may not qualify for or seek out conventional business banking products.
"The informal sector represents a significant portion of the Moroccan economy, and digitizing these businesses is a key step toward greater financial inclusion and economic growth," a representative from the partnership stated. By integrating directly with Chari’s B2B platform, the account aims to streamline commerce for shop owners, allowing them to pay suppliers like Coca-Cola and Unilever digitally. This could improve operational efficiency and create a digital financial footprint for businesses that have historically been invisible to the formal banking sector.
The launch reflects a broader trend across Africa where fintechs, often in partnership with global card networks and telcos, are building layered financial ecosystems. These ecosystems move beyond simple payments to offer integrated services like credit, inventory management, and formal business accounts. For Visa, such partnerships are a strategic entry point into the SME segment, a market that has been a primary driver of economic activity but remains underserved by digital payment solutions in many North African nations.
Success for the venture will likely depend on adoption rates among Chari’s existing merchant base and the tangible benefits the account provides over cash. Key metrics will include the volume of digital transactions processed, the activation rate of the virtual cards, and whether the service can expand beyond the Chari ecosystem to attract independent SMEs. The partners have not disclosed specific customer targets or transaction volume goals publicly. The product's rollout comes as Moroccan authorities continue to encourage digital innovation in finance, balancing the promotion of new services with the maintenance of regulatory oversight in a rapidly evolving sector.