Morocco’s Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape

The Moroccan economy was adversely affected by the global financial crisis. However, the government took preventive measures such as the establishment of a Strategic Monitoring Committee (CVS) in February 2009 to help the government to cope with the impact of the crisis. Domestic demand for goods and services, driven by a stimulating fiscal policy and quantitative easing, played a key role in stimulating growth for Morocco’s cards and payments industry during the review period (2009–2013).

The payment card market is experiencing increased demand and good levels of growth. The government is aiming to bring the unbanked population into the formal banking system through its financial inclusion program, and is encouraging consumers to use electronic payments more frequently. The adoption of Europay, MasterCard and Visa (EMV) standards and their increased presence in e-commerce and retail also supports this growth. Additionally, the approval of the new draft bill for Islamic banking is anticipated to encourage banks and card issuers to introduce new culturally aligned products into the market.

In terms of the number of cards in circulation, Moroccan payment cards (including debit, credit and charge cards) registered positive growth during the review period. The average transaction value (ATV) in Morocco was US$94.3, card penetration was 0.33 cards per inhabitant, while frequency of use was 21.8 transactions per card; these are all expected to rise over the report's forecast period.

Scope

Benchmarking of Morocco’s prepaid, debit and charge cards by country.

A comprehensive analysis of the market dynamics of Morocco's cards and payments industry.

Analysis of card fraud across four categorizations of criminal activity.

Current values for Morocco's cards and payments industry for 2013, in addition to forecast figures up to 2018.

An analysis of the different demographic, economic, infrastructural and business drivers affecting Morocco's cards and payments industry.

An analysis of the marketing strategies implemented by banks and other institutions.

Detailed insight on the industry’s market attractiveness and future growth areas.

Profiles of the major players in Morocco's cards and payments industry.

Key Highlights

What are the two most popular methods of payment in the Moroccan cards and payments market, as measured by transaction value?

Which category is experiencing significant growth as a result of raised awareness among consumers and merchants, due to a combination of government and bank promotion?

By which criteria did Moroccan payment cards register positive growth during the review period?

How are the infrastructure networks evolving in Morocco?

How have the local banks and retail outlets in Morocco contributed to driving this expansion? What consumer preferences does this reflect?

Reasons to buy

Evaluate strategic decisions utilizing GlobalData’s comprehensive historic and forecast market data in each payment card category.

Evaluate key market trends and growth opportunities in Morocco's cards and payments industry.

Investigate the competitive dynamics in the regional cards and payments industry.

Analyze insights into strategies used to market various card-affiliated services.

Ensure compliance with key regulations governing Morocco's cards and payments industry.

Companies mentioned

Banque Centrale Populaire

Banque Marocaine du Commerce Exterieur

Attijariwafa Bank

Banque Marocaine Pour le Commerce et l'Industrie

Crédit du Maroc

Centre Monétique Interbancaire

Visa

MasterCard

Table of Contents

1 Key Facts and Top Events

2 Executive Summary

3 Payment Instruments

3.1 Current Payments Environment

3.2 Alternative Payment Instruments

3.2.1 Morocco Télécommerce

3.2.2 PayPal

3.2.3 PayZone

3.2.4 AmanPay

3.2.5 Cashu

3.2.6 Ukash

4 Market Attractiveness and Future Prospects of Cards and Payments

5 Analysis of Cards and Payments Industry Drivers

5.1 Demographic Drivers

5.2 Economic Drivers

5.3 Infrastructure Drivers

5.4 Business Drivers

6 Emerging Consumer Attitudes and Trends

6.1 Market Segmentation and Targeting

6.1.1 Consumer cards

6.1.2 Commercial cards

6.2 Travel Spending

6.2.1 Outbound trips volume and spending

6.2.2 Inbound trips volume and spending

7 Payment Cards

7.1 Payment Cards Instrument Analysis

7.1.1 Number of cards in circulation by card type

7.1.2 Transaction volume by card type

7.1.3 Transaction value by card type

7.1.4 Personal vs commercial cards

8 Debit Cards

8.1 Debit Cards Market Analysis

8.1.1 Number of debit cards in circulation

8.1.2 Debit cards transaction volume by channel

8.1.3 Debit cards transaction value by channel

8.1.4 Number of debit cards in circulation by scheme

8.1.5 Debit cards transaction value by scheme

8.1.6 Debit cards issuers market shares

8.1.7 Debit cards comparison

9 Credit Cards

9.1 Credit Cards Market Analysis

9.1.1 Number of credit cards in circulation

9.1.2 Credit cards transaction volume by channel

9.1.3 Credit cards transaction value by channel

9.1.4 Number of credit cards in circulation by scheme

9.1.5 Credit cards transaction value by scheme

9.1.6 Credit cards issuers market share

9.1.7 Credit cards comparison

10 Charge Cards

10.1 Charge Cards Market Analysis

10.1.1 Number of charge cards in circulation

10.1.2 Charge cards transaction volume by channel

10.1.3 Charge cards transaction value by channel

10.1.4 Number of charge cards in circulation by scheme

10.1.5 Charge cards transaction value by scheme

10.1.6 Charge cards comparison

11 Commercial Cards

11.1 Commercial Cards Market Analysis

11.1.1 Number of commercial cards in circulation

11.1.2 Commercial cards transaction value

11.1.3 Commercial credit cards

11.1.4 Commercial charge cards

11.1.5 Commercial cards comparison

12 Regulations in the Cards and Payments Industry

12.1 Regulatory Framework

12.2 Anti-Money Laundering and Combating of Terrorism Financing (AML and CTF)

12.3 Foreign Direct Investment (FDI) Regulations

13 Card Fraud Statistics

13.1 Card Fraud Analysis

14 Card Issuers

14.1 Banque Centrale Populaire

14.2 Banque Marocaine du Commerce Exterieur

14.3 Attijariwafa Bank

14.4 Banque Marocaine Pour Le Commerce et l'industrie

14.5 Crédit du Maroc

15 Card Schemes

15.1 Visa

15.2 MasterCard

16 Prepaid Cards

16.1 Prepaid Cards Market Analysis

16.1.1 Number of prepaid cards in circulation

16.1.2 Prepaid cards transaction value

16.1.3 Open-loop prepaid cards

16.1.4 Closed-loop prepaid cards

16.1.5 Prepaid cards comparison

17 Appendix

17.1 Tables

17.2 Methodology

17.3 Contact GlobalData

17.4 About GlobalData

17.5 GlobalData’s Services

17.6 Definitions

17.7 Disclaimer

List of Tables

Table 1: Morocco – Key Facts, 2013

Table 2: Regional Benchmarking of Moroccan Payment Cards, 2013

Table 3: Morocco – Cards for High-Income Consumers, 2014

Table 4: Morocco – Cards for Female Population, 2014

Table 5: Morocco – Cards for Online Shoppers, 2014

Table 6: Morocco – Cards for Students and Young Population, 2014

Table 7: Morocco – Cards for Frequent Travelers, 2014

Table 8: Morocco – Cards for Business Customers

Table 9: Morocco – Regional Benchmarking of Moroccan Debit Cards, 2013

Table 10: Morocco – Debit Cards Comparison and Key Features

Table 11: Morocco – Regional Benchmarking of Moroccan Credit Cards, 2013

Table 12: Morocco – Gold Credit Cards Comparison and Key Features

Table 13: Morocco – Premium Credit Cards Comparison and Key Features

Table 14: Regional Benchmarking of Moroccan Charge Cards, 2013

Table 15: Morocco – Charge Cards Comparison and Key Features

Table 16: Morocco – Commercial Cards Comparison and Key Features, 2014

Table 17: Morocco – Market Entry Strategies of Foreign Banks and Institutions

Table 18: Morocco – Regional Benchmarking of Moroccan Prepaid Cards, 2013

Table 19: Morocco – Prepaid Cards Comparison and Key Features

Table 20: Morocco – Payment Instruments Transaction Value (MAD Billion), 2009–2013

Table 21: Morocco – Payment Instruments Transaction Value (US$ Billion), 2009–2013

Table 22: Morocco – Payment Instruments Transaction Volume (Million), 2009–2013

Table 23: Morocco – Number of Cards in Circulation by Card Types (Thousand), 2009–2018

Table 24: Morocco – Transaction Volume by Card Type (Million), 2009–2018

Table 25: Morocco – Transaction Value by Card Type (MAD Billion), 2009–2018

Table 26: Morocco – Transaction Value by Card Type (US$ Million), 2009–2018

Table 27: Morocco – Personal and Commercial Cards Transaction Value (MAD Billion), 2009–2018

Table 28: Morocco – Personal and Commercial Cards Transaction Value (US$ Million), 2009–2018

Table 29: Morocco – Number of Debit Cards in Circulation (Million), 2009–2018

Table 30: Morocco – Debit Cards Transaction Volume and Frequency by Channel, 2009–2018

Table 31: Morocco – Debit Cards Total and Average Transaction Value by Channel, 2009–2018

Table 32: Morocco – Debit Cards Total and Average Transaction Value by Channel, 2009–2018

Table 33: Morocco – Number of Debit Cards in Circulation By Scheme (Thousand), 2009–2013

Table 34: Morocco – Debit Cards Transaction Value By Scheme (MAD Million), 2009–2013

Table 35: Morocco – Debit Cards Transaction Value By Scheme (US$ Million), 2009–2013

Table 36: Morocco – Debit Cards Transaction Value by Issuer (MAD Million), 2009–2013

Table 37: Morocco – Debit Cards Transaction Value by Issuer (US$ Million), 2009–2013

Table 38: Morocco – Number of Credit Cards in Circulation (Thousand), 2009–2018

Table 39: Morocco – Credit Cards Transaction Volume and Frequency by Channel, 2009–2018

Table 40: Morocco – Credit Cards Total and Average Transaction Value by Channel, 2009–2018

Table 41: Morocco – Credit Cards Total and Average Transaction Value by Channel, 2009–2018

Table 42: Morocco – Number of Credit Cards in Circulation By Scheme (Thousand), 2009–2013

Table 43: Morocco – Credit Cards Transaction Value By Scheme (MAD Million), 2009–2013

Table 44: Morocco – Credit Cards Transaction Value By Scheme (US$ Million), 2009–2013

Table 45: Morocco – Credit Cards Transaction Value By Issuer (MAD Million), 2009–2013

Table 46: Morocco – Credit Cards Transaction Value By Issuer (US$ Million), 2009–2013

Table 47: Morocco – Credit Cards Balance Outstanding By Issuer (MAD Million), 2009–2013

Table 48: Morocco – Credit Cards Balance Outstanding By Issuer (US$ Million), 2009–2013

Table 49: Morocco – Number of Charge Cards in Circulation (Thousand), 2009–2018

Table 50: Morocco – Charge Cards Transaction Volume and Frequency by Channel, 2009–2018

Table 51: Morocco – Charge Cards Total and Average Transaction Value by Channel, 2009–2018

Table 52: Morocco – Charge Cards Total and Average Transaction Value by Channel, 2009–2018

Table 53: Morocco – Number of Charge Cards in Circulation By Scheme (Thousand), 2009–2013

Table 54: Morocco – Charge Cards Transaction Value By Scheme (MAD Million), 2009–2013

Table 55: Morocco – Charge Cards Transaction Value By Scheme (US$ Million), 2009–2013

Table 56: Morocco – Number of Commercial Cards in Circulation (Thousand), 2009–2018

Table 57: Morocco – Commercial Cards Transaction Value (MAD Million), 2009–2018

Table 58: Morocco – Commercial Cards Transaction Value (US$ Million), 2009–2018

Table 59: Morocco – Commercial Credit Cards, 2009–2018

Table 60: Morocco – Commercial Charge Cards, 2009–2018

Table 61: Morocco – Card Fraud (MAD Million), 2009–2013

Table 62: Morocco – Card Fraud (US$ Million), 2009–2013

Table 63: Morocco – Number of Prepaid Cards in Circulation (Thousand), 2009–2018

Table 64: Morocco – Prepaid Cards Transaction Value (MAD Million), 2009–2018

Table 65: Morocco – Prepaid Cards Transaction Value (US$ Million), 2009–2018

Table 66: Morocco – Open-Loop Prepaid Cards, 2009–2018

Table 67: Morocco – Closed-Loop Prepaid Cards, 2009–2018

Table 68: Key Definitions

List of Figures

Figure 1: Morocco – Payment Instrument Shares by Transaction Value (%), 2009 and 2013

Figure 2: Morocco – Payment Instrument Shares by Transaction Volume (%), 2009 and 2013

Figure 3: Morocco – Payment Cards Transaction Value and Growth, 2009–2018

Figure 4: Morocco – Total Population (Million) and Proportion Aged Over 65 Years, 2009–2018

Figure 5: Morocco – Nominal GDP Per Capita (US$) and Real GDP Growth Rate (%), 2009–2018

Figure 6: Morocco – Volume of ATMs and Penetration, 2009–2018

Figure 7: Morocco – Volume of POS Terminals and Penetration, 2009–2018

Figure 8: Morocco – E-Commerce Value (MAD Million), 2009–2018

Figure 9: Morocco – Cards and Payments Industry Segmentation by Card Type, 2014

Figure 10: Morocco – Outbound Trips Volume and Spending, 2009–2018

Figure 11: Morocco – Inbound Trips Volume and Spending, 2009–2018

Figure 12: Morocco – Card Shares In Terms of Numbers in Circulation (%), 2009–2018

Figure 13: Morocco – Card Shares in Terms of Transaction Volume (%), 2009–2018

Figure 14: Morocco – Card Shares in Terms of Transaction Value (%), 2009–2018

Figure 15: Morocco – Personal and Commercial Cards, Transaction Value (MAD Million), 2009–2018

Figure 16: Morocco – Number of Debit Cards in Circulation (Million), 2009–2018

Figure 17: Morocco – Debit Cards Transaction Volume by Channel (Million), 2009–2018

Figure 18: Morocco – Debit Cards Transaction Value by Channel (MAD Billion), 2009–2018

Figure 19: Morocco – Debit Cards Scheme Market Shares in Terms of the Number of Cards in Circulation (%), 2013

Figure 20: Morocco – Debit Cards Scheme Market Shares in Terms of Transaction Value (%), 2013

Figure 21: Morocco – Debit Cards Issuers’ Market Shares in Terms of Transaction Value (%), 2013

Figure 22: Morocco – Number of Credit Cards in Circulation (Thousand), 2009–2018

Figure 23: Morocco – Credit Cards Transaction Volume by Channel (Thousand), 2009–2018

Figure 24: Morocco – Credit Cards Transaction Value by Channel (MAD Million), 2009–2018

Figure 25: Morocco – Credit Cards Scheme Market Shares in Terms of the Number of Cards in Circulation (%), 2013

Figure 26: Morocco – Credit Cards Scheme Market Shares in Terms of Transaction Value (%), 2013

Figure 27: Morocco – Credit Cards Issuers’ Market Shares in Terms of Transaction Value (%), 2013

Figure 28: Morocco – Credit Cards Issuers’ Market Shares in Terms of Outstanding Balance (%), 2013

Figure 29: Morocco – Number of Charge Cards in Circulation (Thousand), 2009–2018

Figure 30: Morocco – Charge Cards Transaction Volume by Channel (Thousand), 2009–2018

Figure 31: Morocco – Charge Cards Transaction Value by Channel (MAD Million), 2009–2018

Figure 32: Morocco – Charge Cards Scheme Market Shares in Terms of the Number of Cards in Circulation (%), 2013

Figure 33: Morocco – Charge Cards Scheme Market Shares in Terms of Transaction Value (%), 2013

Figure 34: Morocco – Number of Commercial Cards in Circulation (Thousand), 2009–2018

Figure 35: Morocco – Commercial Cards Transaction Value (MAD Million), 2009–2018

Figure 36: Morocco – Shares of Various Types of Card Fraud in Terms of Transaction Value (%), 2009 and 2013

Figure 37: Morocco – Number of Prepaid Cards in Circulation (Thousand), 2009–2018

Figure 38: Morocco – Prepaid Cards Transaction Value (MAD Million), 2009–2018

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