How Will Mobile Payment Change the Lives of Moroccans?

Launched in 2018 by the Central Bank and the National Telecommunications Regulatory Agency, the regulatory framework for mobile payment is intended to make this activity a key factor in financial inclusion.

This is evidenced by the fifteen or so payment institutions created to invest in this new market.

In addition to banks (BPAY of Banque Populaire, dabaPay of BMCE Bank, Beztam-E of Crédit Agricole du Maroc, So Pay of Société Générale and WEPay of CIH Bank), several operators have received their approvals to set up dedicated subsidiaries.

These are Wafacash, Maroc Traitement de Transaction (M2T), Bash Plus, NAPS, Maymouna Services Financiers, the Interbank Electronic Banking Center (CMI), Barid Cash, Fast Paiement in addition to Maroc Telecom, Inwi and Orange.

The aim is to overcome the circulation of cash and its very costly management, but above all to offer new opportunities for the most remote regions.

Bank Al-Maghrib expects, by 2024, a market of 6 million users for 1.3 MMDH of transactions.

Is there a demand for this new offer? How can we change the habits of Moroccans? Are the regulatory and technical provisions fully developed? Discovering an activity with strong potential…

2 Comments

  1. The 🇲🇦 Moroccans are left well behand smart phones 💷 money banking.
    With the rest of the world.
    Smart Phone world money transfer is the future. The transaction is in your account within an hour or less.
    Well done and carry on. Folks.
    Is me the learner.

  2. The transfer transaction is banked to your account in an hour or less. Worldwide. Carry on, 🔚
    Smart phone banking.(5G) is working.

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