Payments Landscape in Morocco: Market Share, Significant Growth Rate, Assessment Period, Opportunities and Risks to 2022

This research study added to the broad database of Market Research Hub (MRH) focusing on the Payments Landscape in Morocco: Opportunities and Risks to 2022 delivers an in-depth outlook to present information about executive summary and key performance indicators. Furthermore, readers can gather knowledge about the economic status, demographics and competitive landscape which is prevailing in the concerned industry during the review period, 2022. Overall, the purpose of this assessment is to present a clear picture highlighting the transformations expected to occur in the Payments Landscape in Morocco driven by major trends and opportunities.

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Payments Landscape in Morocco: Opportunities and Risks to 2022

Summary

GlobalDatas "Payments Landscape in Morocco: Opportunities and Risks to 2022", 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, direct debits, and cheques during the review-period (2014-18e).

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 (2018e-22f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalDatas 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.

The 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, direct debits, and cheques. It also, includes an overview of the country's key alternative payment instruments.
- E-commerce 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.

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Scope

- To encourage electronic payments, the BAM, in association with the National Telecommunications Regulatory Agency (ANRT) and a consortium of leading banks, launched the mobile banking app M-Wallet in November 2018, enabling users to carry out various transactions such as in-store payments, bill payments, transfer of funds, checking of account balance and tracking expenditures directly on their mobile phone. According to ANRT, the number of mobile subscribers in Morocco stood at 44 million as of June 2018, and the BAM expects that transactions worth MAD50bn ($5.23bn) will be made via the wallet by 2023.

- With growing demand for Sharia-compliant banking services, in January 2017 the BAM gave authorization to Attijariwafa bank, Banque Populaire, BMCE Bank and CIH Bank to offer Sharia-compliant products and services in Morocco. Furthermore, the BAM permitted the French bank subsidiaries Socit Gnrale of France, Crdit du Maroc and BMCI to start providing Islamic financial products and services in the country. Currently, Sharia-compliant products such as deposit accounts, savings accounts, investment accounts and real estate financing are being offered; this initiative should pave the way for the introduction of Sharia-compliant credit cards in the country in coming years.

- While bricks-and-mortar branches remain important in Morocco, digital banks have started to enter the market. In December 2016, Attijariwafa bank launched a mobile-only bank called L'bankalik. This digital bank enables individuals to open three types of accounts online - Bankalink Smart, Flex and Premium - without the need to visit a branch. Most recently in February 2019, the Morocco-based CFG Bank, in collaboration with the US-based digital banking solution provider Kony, launched a mobile banking app based on Konys digital banking platform Kony DBX. This app allows the banks customers to conduct a range of banking transactions.

Table of Contents

Market Overview
Executive Summary
Card-based Payments
E-commerce Payments
Alternative Payments
Payment Innovations
Payments Infrastructure & Regulation
Appendix

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