Morocco Cards and Payments: Opportunities and Risks to 2028

Morocco Cards and Payments: Opportunities and Risks to 2028

Summary

GlobalData’s ‘Morocco Cards and Payments: Opportunities and Risks to 2028' report provides detailed analysis of market trends in the Moroccan cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards, credit transfers, cheques , and direct debits during the review-period (2019-23e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2024f-28f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

GlobalData’s ‘Morocco Cards and Payments: Opportunities and Risks to 2028' report provides top-level market analysis, information and insights into the Moroccan cards and payments industry, including -

• Current and forecast values for each market in the Moroccan cards and payments industry, including debit, and credit cards
• Detailed insights into payment instruments including cards, credit transfers, cheques , and direct debits . It also, includes an overview of the country's key alternative payment instruments.
• Ecommerce market analysis.
• Analysis of various market drivers and regulations governing the Moroccan cards and payments industry.
• Detailed analysis of strategies adopted by banks and other institutions to market debit, and credit cards.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of the Moroccan cards and payments industry.

Scope

• Bank Al-Maghrib (BAM) (Morocco’s central bank) and the Moroccan Interbank Remote Clearing System launched instant bank transfers in the country on June 1, 2023. The system operates 24 hours a day, seven days a week, 365 days a year. The system currently supports individual fund transfers, which can be initiated via internet banking, mobile banking, and bank branches using the recipient’s account number. Users can transfer a maximum of MAD20,000 ($1,976.97) per transaction, with transfers completed within 20 seconds.
• Alternative payment solutions are gaining traction in the country. Apple Pay was launched in Morocco in July 2023. The solution allows consumers to make in-store, in-app, and online payments using their Apple devices. Users need to add their payment card details to Apple Wallet app to make online payments at partner websites as well as contactless payments at partner merchants. Apple Pay purchases offer a range of authentication methods, including biometrics, passwords, and unique security codes. As of February 2024, Apple Pay is supported by four banks: Attijariwafa Bank, Groupe Credit Agricole du Maroc, CIH, and L'bankalik (Attijariwafa Bank’s digital-only bank).
• Morocco’s ecommerce market has recorded strong growth. To capitalize on this trend, in March 2023, ecommerce platform Jumia launched an initiative to drive ecommerce growth in medium, small, and underserved cities in Morocco. The initiative aims to create awareness of the advantages of ecommerce, train individuals on how to use ecommerce platforms, and help individuals make purchases online. Meanwhile, DP World (a global provider of logistics services) launched its wholesale ecommerce platform DUBUY.com in June 2023.

Reasons to Buy

• Make strategic business decisions, using top-level historic and forecast market data, related to the Moroccan cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities in the Moroccan cards and payments industry.
• Assess the competitive dynamics in the Moroccan cards and payments industry.
• Gain insights into marketing strategies used for various card types in Morocco.
• Gain insights into key regulations governing the Moroccan cards and payments industry.