The Cards and Payments Industry in Morocco: Emerging Trends and Opportunities to 2019

GlobalData’s 'The Cards and Payments Industry in Morocco: Emerging Trends and Opportunities to 2019' report provides detailed analysis of market trends in Morocco's cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments, credit transfers, direct debits and payment cards during the review period (2010–2014).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2015–2019). 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, recent changes in regulatory structure and profiles of card issuers operating in the country.

Scope

• This report provides a comprehensive analysis of Morocco's cards and payments industry.

• It provides current values for Morocco's cards and payments industry for 2014, and forecast figures to 2019.

• It details the different economic, infrastructural and business drivers affecting Morocco's cards and payments industry.

• It outlines the current regulatory framework in the industry.

• It details marketing strategies used by various banks and other institutions.

• It profiles major banks in Morocco's cards and payments industry.

Key Highlights

• In 2014, check payments and credit transfers were the most popular payment instruments, having a combined industry share of 97.1% in terms of transaction value, while the share of payment cards doubled from 0.5% in 2010 to 1% by the end of 2014. The share of payment cards is rising as the government and banks promote awareness levels and associated benefits among consumers and merchants. The adoption of EMV standards and growth in e-commerce and retail industries also supported the industry’s growth.

• In terms of transaction value, debit cards remained the most popular payment card during the review period. The Moroccan population is dominated by a Muslim population who generally avoid credit cards for religious reasons. Consequently, the debit card market registered growth in terms of volume and transaction value during the review period. In order to spur card sales, banks and card issuers are offering EMV-compliant cards and bespoke products to meet specific customer needs.

• In June 2014, the Moroccan government approved a new banking law relating to establishing a fully fledged Islamic finance industry after years of false starts. The draft bill will allow both domestic and foreign banking companies to establish Islamic banking branches in Morocco. The new bill, which also contains legislation pertaining to the establishment of a sharia committee formed in coordination with the central bank, will help build a robust regulatory environment for the financial sector.

Reasons to buy

• Make strategic business decisions, using top-level historic and forecast market data, related to Morocco's cards and payments industry and each market within it.

• Understand the key market trends and growth opportunities in Morocco's cards and payments industry.

• Assess the competitive dynamics in Morocco's cards and payments industry.

• Gain insights into marketing strategies used for various card types in Morocco.

• Gain insights into key regulations governing Morocco's cards and payments industry.

Companies mentioned

Banque Centrale Populaire

Attijariwafa Bank

Banque Marocaine Du Commerce Exterieur

Crédit du Maroc-Credit Agricole

CMI

Visa

MasterCard

Table of Contents

1 Definitions and Methodology

1.1 Definitions

1.2 Methodology

2 Key Facts and Events

3 Executive Summary

4 Payment Instruments

4.1 Current Payments Environment

4.2 Alternative Payment Instruments

4.2.1 Morocco Télécommerce

4.2.2 PayPal

4.2.3 PayZone

4.2.4 AmanPay

4.2.5 Cashu

4.2.6 Ukash

5 Regulations in the Cards and Payments Industry

5.1 Regulatory Framework

5.1.1 Regulation relating to electronic payments

5.2 Anti-Money Laundering (AML)

5.3 Foreign Direct Investment (FDI) Regulations

6 Analysis of Cards and Payments Industry Drivers

6.1 Demographic Drivers

6.2 Economic Drivers

6.3 Infrastructure Drivers

6.4 Business Drivers

7 Market Segmentation and Targeting

7.1 Market Segmentation and Targeting

7.1.1 Consumer cards

7.1.2 Commercial cards

8 Payment Cards

8.1 Payment Card Analysis

8.1.1 Volume and value of payment card transactions by type

8.1.2 Personal vs commercial cards

9 Debit Cards

9.1 Debit Card Market Analysis

9.1.1 Debit card transaction volumes and values by channel

9.1.2 Debit card scheme and issuer shares in terms of transaction value

9.1.3 Debit cards comparison

10 Credit Cards

10.1 Credit Card Market Analysis

10.1.1 Credit card transaction volumes and values by channel

10.1.2 Credit card scheme and issuers shares in terms of transaction value

10.1.3 Credit cards comparison

11 Charge Cards

11.1 Charge Card Market Analysis

11.1.1 Charge card transaction volumes and values by channel

11.1.2 Charge card scheme shares in terms of transaction value

11.1.3 Charge cards comparison

12 Commercial Cards

12.1 Commercial Card Market Analysis

12.1.1 Commercial cards comparison

13 Card Issuers

13.1 Banque Centrale Populaire

13.2 Attijariwafa Bank

13.3 Banque Marocaine du Commerce Exterieur

13.4 Crédit du Maroc

14 Prepaid Cards

14.1 Prepaid Card Market Analysis

14.1.1 Prepaid cards comparison

15 Appendix

15.1 Tables

15.2 Contact GlobalData

15.3 About GlobalData

15.4 GlobalData’s Services

15.5 Disclaimer

List of Tables

Table 1: Key Definitions

Table 2: Annual Average Exchange Rate

Table 3: Morocco – Key Facts, 2014

Table 4: Regional Benchmarking of Morocco’s Payment Cards, 2014

Table 5: Morocco – Mode of Entry of Foreign Banks

Table 6: Cards for High-Income Consumers, 2015

Table 7: Cards for Online Shoppers, 2015

Table 8: Cards for Online Shoppers, 2015

Table 9: Cards for Students and Young Population, 2015

Table 10: Cards for Travelers, 2015

Table 11: Commercial Cards Comparison and Key Features, 2015

Table 12: Morocco – Debit Cards Comparison and Key Features, 2015

Table 13: Morocco – Gold Credit Cards Comparison and Key Features, 2015

Table 14: Morocco – Premium Credit Cards Comparison and Key Features, 2015

Table 15: Morocco – Charge Cards Comparison and Key Features, 2015

Table 16: Morocco – Commercial Cards Comparison and Key Features, 2015

Table 17: Morocco – Prepaid Cards Comparison and Key Features, 2015

Table 18: Morocco – Payment Instrument Transaction Values (MAD Billion), 2010–2014

Table 19: Morocco – Payment Instrument Transaction Values (US$ Billion), 2010–2014

Table 20: Morocco – Payment Instrument Transaction Volumes (Million), 2010–2014

Table 21: Morocco – Number of Payment Cards in Circulation by Type (Thousand), 2010–2019

Table 22: Morocco – Volume of Payment Card Transactions by Type (Million), 2010–2019

Table 23: Morocco – Value of Payment Card Transactions by Type (MAD Billion), 2010–2019

Table 24: Morocco – Value of Payment Card Transactions by Type (US$ Billion), 2010–2019

Table 25: Morocco – Personal and Commercial Card Transaction Volumes (Million), 2010–2019

Table 26: Morocco – Personal and Commercial Card Transaction Values (MAD Million), 2010–2019

Table 27: Morocco – Personal and Commercial Card Transaction Values (US$ Million), 2010–2019

Table 28: Morocco – Number of Debit Cards in Circulation (Million), 2010–2019

Table 29: Morocco – Debit Card Transaction Volumes and Frequency by Channel, 2010–2019

Table 30: Morocco – Debit Card Total and Average Transaction Values by Channel, 2010–2019

Table 31: Morocco – Debit Card Total and Average Transaction Values by Channel, 2010–2019

Table 32: Morocco – Number of Debit Cards in Circulation By Scheme (Thousand), 2010–2014

Table 33: Morocco – Debit Card Transaction Values By Scheme (MAD Billion), 2010–2014

Table 34: Morocco – Debit Card Transaction Values By Scheme (US$ Billion), 2010–2014

Table 35: Morocco – Debit Card Transaction Values by Issuer (MAD Billion), 2010–2014

Table 36: Morocco – Debit Card Transaction Values by Issuer (US$ Billion), 2010–2014

Table 37: Morocco – Number of Credit Cards in Circulation (Thousand), 2010–2019

Table 38: Morocco – Credit Card Transaction Volumes and Frequency by Channel, 2010–2019

Table 39: Morocco – Credit Card Total and Average Transaction Values by Channel, 2010–2019

Table 40: Morocco – Credit Card Total and Average Transaction Values by Channel, 2010–2019

Table 41: Morocco – Number of Credit Cards in Circulation By Scheme (Thousand), 2010–2014

Table 42: Morocco – Credit Card Transaction Values By Scheme (MAD Million), 2010–2014

Table 43: Morocco – Credit Card Transaction Values By Scheme (US$ Million), 2010–2014

Table 44: Morocco – Pay Later Card Transaction Values By Issuer (MAD Million), 2010–2014

Table 45: Morocco – Pay Later Card Transaction Values By Issuer (US$ Million), 2010–2014

Table 46: Morocco – Credit Card Balances Outstanding by Issuer (MAD Million), 2010–2014

Table 47: Morocco – Credit Card Balances Outstanding by Issuer (US$ Million), 2010–2014

Table 48: Morocco – Number of Charge Cards in Circulation (Thousand), 2009–2018

Table 49: Morocco – Charge Card Transaction Volumes and Frequency by Channel, 2009–2018

Table 50: Morocco – Charge Card Total and Average Transaction Values by Channel, 2009–2018

Table 51: Morocco – Charge Card Total and Average Transaction Values by Channel, 2009–2018

Table 52: Morocco – Number of Charge Cards in Circulation By Scheme (Thousand), 2010–2014

Table 53: Morocco – Charge Card Transaction Values By Scheme (MAD Million), 2010–2014

Table 54: Morocco – Charge Card Transaction Values By Scheme (US$ Million), 2009–2013

Table 55: Morocco – Number of Commercial Cards in Circulation (Thousand), 2010–2019

Table 56: Morocco – Commercial Card Transaction Values (MAD Million), 2010–2019

Table 57: Morocco – Commercial Card Transaction Values (US$ Million), 2010–2019

Table 58: Morocco – Number of Prepaid Cards in Circulation (Thousand), 2010–2019

Table 59: Morocco – Prepaid Card Transaction Values (MAD Million), 2010–2019

Table 60: Morocco – Prepaid Card Transaction Values (US$ Million), 2010–2019

List of Figures

Figure 1: Morocco – Payment Instrument Shares by Transaction Value (%), 2010 and 2014

Figure 2: Morocco – Payment Instrument Shares by Transaction Volume (%), 2010 and 2014

Figure 3: Morocco –Total Population and Structure, 2014

Figure 4: Morocco – Economic Indicators, 2010–2019

Figure 5: Morocco – Number of ATMs, POS Terminals and Bank Branches

Figure 6: Morocco – Household Final Consumption Expenditure Per Capita and E-Commerce Value, 2010–2014

Figure 7: Morocco – Cards and Payments Industry Segmentation by Card Type, 2015

Figure 8: Morocco – Growth in Payment Card Transaction Values and Circulation by Type, 2010–2019

Figure 9: Morocco – Volume and Value of Payment Card Transactions by Type (%), 2010–2019

Figure 10: Morocco – Personal and Commercial Card, Transaction Volumes and Values (%), 2010–2019

Figure 11: Morocco – Growth in Debit Card Transaction Values and Number of Debit Cards in Circulation, 2010–2019

Figure 12: Morocco – Debit Card Transaction Volumes and Values by Channel, 2010–2019

Figure 13: Morocco – Debit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2014

Figure 14: Morocco – Growth in Credit Card Transaction Values and Number of Credit Cards in Circulation, 2010–2019

Figure 15: Morocco – Credit Card Transaction Volumes and Values by Channel, 2010–2019

Figure 16: Morocco – Credit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2014

Figure 17: Morocco – Growth in Charge Card Transaction Values and Number of Charge Cards in Circulation, 2010–2019

Figure 18: Morocco – Charge Card Transaction Volumes and Values by Channel, 2010–2019

Figure 19: Morocco – Charge Card Scheme Shares in Terms of Transaction Value (%), 2014

Figure 20: Morocco – Number of Commercial Cards in Circulation and Transaction Values, 2010–2019

Figure 21: Morocco – Number of Prepaid Cards in Circulation and Transaction Values, 2010–2019

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