Payments Landscape in Morocco Market Key Players – Crédit Agricole, Visa, CMI, and Mastercard Analysis & Forecast 2021

Payments Landscape in Morocco

Overview

Payments Landscape in Morocco: Opportunities and Risks to 2021", report provides detailed analysis of market trends in the Cambodian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cheques and payment cards during the review-period (2013-17e).

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 (2017-21f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

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Top Companies mentioned

BMCE Bank

Attijariwafa bank

Crédit Agricole

Visa

CMI

Mastercard

Payments Landscape in Morocco Industry Major Outlook

Contactless card issuance and acceptance are gaining traction in Morocco. In January 2018, Visa introduced contactless payment cards supported by its payWave technology, thereby allowing consumers to pay for their purchases by simply tapping their cards at POS terminals. Previously, in October 2015 Mastercard in collaboration with CMI launched contactless payment cards in Morocco, supported by its PayPass service. According to CMI, as of January 2018 there were 13,000 contactless POS terminals installed in the country, with plans to increase this number to 20,000 by the end of 2018.  

Payments Landscape in Morocco - Competitive Analysis

Key players are making innovative developments in Payments Landscape in Morocco industry.  The same will help in improving the market performance. Heavy investments are made by major players in the R&D sector

Scope

- In response to the rising demand for Sharia-compliant financial products, in November 2014 the Moroccan government approved a new banking law relating to establishing a fully fledged Islamic finance industry. It allows both domestic and foreign banks to establish Islamic branches in Morocco and also enables private companies to offer Islamic debt

In January 2017, the central bank authorized Attijariwafa bank, Banque Populaire, BMCE Bank, and CIH Bank -to offer Sharia-compliant products and services in Morocco. Further, the central bank has permitted French bank subsidiaries - Société Générale, Crédit du Maroc, and BMCI - to start providing Islamic financial products and services in the country.

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