The Cards and Payments Industry in Morocco: Emerging Trends and Opportunities to 2020

GlobalData’s 'The Cards and Payments Industry in Morocco: Emerging Trends and Opportunities to 2020' 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 check payments, credit transfers, direct debits and payment cards during the review period (2011–2015).

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 (2016–2020). It also offers information on the country's competitive landscape, including the 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 details of regulatory policy and recent changes in the regulatory structure.

Scope

• This report provides a comprehensive analysis of the Moroccan cards and payments industry.

• It provides current values for the Moroccan cards and payments industry for 2015, and forecast figures to 2020.

• It details the different demographic, economic, infrastructural and business drivers affecting the Moroccan cards and payments industry.

• It outlines the current regulatory framework in the industry.

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

Key Highlights

• Contactless cards are expected to gain traction in Morocco. The domestic interbank network switch, the Centre Monétique Interbancaire (CMI) and MasterCard launched contactless payment cards in October 2015. To increase contactless uptake, contactless POS terminals were deployed in Casablanca, and will be gradually expanded to other cities such as Rabat and Marrakech. According to the CMI, 6,000 contactless POS terminals will be installed by the end of 2016, with plans to increase the number to 17,000 by the end of 2017.

• Payment service providers (PSPs) are offering terminals at lower costs to increase uptake of mobile point of sale (mPOS) among small merchants. One of the latest is the introduction of an mPOS solution by the CMI in October 2015, to enable self-employed professionals and micro-merchants to accept card payments by smartphone or tablet. The introduction of low-cost solutions is expected to encourage merchants to accept card-based payments.

• As part of moves to establish a full Islamic finance industry in the country, the Moroccan government approved a new banking law in June 2014. The initiative is expected to allow new entrants to enter the Moroccan banking sector, and introduce Sharia-compliant credit cards on a large scale. The central bank of Morocco is planning to give permission to 10 banks in Morocco to offer Islamic banking products and services by the end of 2016.

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.

Companies mentioned

Banque Centrale Populaire

BMCE Bank

Attijariwafa Bank

Crédit du Maroc

BMCI

CMI

Visa

MasterCard

Table of Contents

1 DEFINITIONS AND METHODOLOGY

1.1 Definitions

1.2 Methodology

2 KEY FACTS AND HIGHLIGHTS

3 EXECUTIVE SUMMARY

4 PAYMENT INSTRUMENTS

5 E-COMMERCE AND ALTERNATIVE PAYMENTS

5.1 E-Commerce Market and Payment Methods

5.2 Alternative Payment Solutions

5.2.1 Mobicash

5.2.2 PayPal

5.2.3 CashU

5.2.4 AmanPay

6 REGULATIONS IN THE CARDS AND PAYMENTS INDUSTRY

6.1 Regulatory Framework

6.2 Anti-Money Laundering (AML)

6.3 Foreign Direct Investment Regulations

7 ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS

8 PAYMENT CARDS

9 DEBIT CARDS

9.1 Debit Card Market Analysis

9.2 Debit Card Scheme and Issuer Shares

9.3 Debit Cards Comparison

10 PAY LATER CARDS

10.1 Pay Later Cards Market Analysis

10.2 Pay Later Cards Scheme and Issuer Shares

10.3 Pay Later Cards Comparison

11 APPENDIX

11.1 Tables

11.2 Contact GlobalData

11.3 About GlobalData

11.4 GlobalData’s Services

11.5 Disclaimer

List of Tables

Table 1: Key Definitions

Table 2: Annual Average Exchange Rate

Table 3: Morocco – Key Facts, 2015

Table 4: Regional Benchmarking of Moroccan Payment Cards, 2015

Table 5: Morocco – Mode of Entry of Foreign Banks

Table 6: Morocco – Debit Cards Comparison and Key Features, 2016

Table 7: Morocco – Gold Credit Cards Comparison and Key Features, 2016

Table 8: Morocco – Premium Credit Cards Comparison and Key Features, 2016

Table 9: Morocco – Payment Instrument Transaction Values (MAD Billion), 2011–2015

Table 10: Morocco – Payment Instrument Transaction Values (US$ Billion), 2011–2015

Table 11: Morocco – Payment Instrument Transaction Volumes (Million), 2011–2015

Table 12: Morocco – Number of Payment Cards in Circulation by Type (Thousand), 2011–2020

Table 13: Morocco – Volume of Payment Cards Transactions by Type (Million), 2011–2020

Table 14: Morocco – Value of Payment Cards Transactions by Type (MAD Billion), 2011–2020

Table 15: Morocco – Value of Payment Cards Transactions by Type (US$ Billion), 2011–2020

Table 16: Morocco – Number of Debit Cards in Circulation (Million), 2011–2020

Table 17: Morocco – Debit Card Transaction Volumes and Frequency by Channel, 2011–2020

Table 18: Morocco – Debit Card Total and Average Transaction Values by Channel, 2011–2020

Table 19: Morocco – Debit Card Total and Average Transaction Values by Channel, 2011–2020

Table 20: Morocco – Number of Debit Cards in Circulation by Scheme (Million), 2011–2015

Table 21: Morocco – Debit Card Transaction Values by Scheme (MAD Billion), 2011–2015

Table 22: Morocco – Debit Card Transaction Values by Scheme (US$ Billion), 2011–2015

Table 23: Morocco – Debit Card Transaction Values by Issuer (MAD Billion), 2011–2015

Table 24: Morocco – Debit Card Transaction Values by Issuer (US$ Billion), 2011–2015

Table 25: Morocco – Number of Pay Later Cards in Circulation (Thousand), 2011–2020

Table 26: Morocco – Pay Later Cards Transaction Volumes and Frequency by Channel, 2011–2020

Table 27: Morocco – Pay Later Cards Total and Average Transaction Values by Channel, 2011–2020

Table 28: Morocco – Pay Later Cards Total and Average Transaction Values by Channel, 2011–2020

Table 29: Morocco – Number of Pay Later Cards in Circulation by Scheme (Thousand), 2011–2015

Table 30: Morocco – Pay Later Cards Transaction Values by Scheme (MAD Million), 2011–2015

Table 31: Morocco – Pay Later Cards Transaction Values by Scheme (US$ Million), 2011–2015

Table 32: Morocco – Pay Later Cards Transaction Values by Issuer (MAD Million), 2011–2015

Table 33: Morocco – Pay Later Cards Transaction Values by Issuer (US$ Million), 2011–2015

Table 34: Morocco – Personal and Commercial Pay Later Cards Transaction Volumes (Million), 2011–2020

Table 35: Morocco – Personal and Commercial Pay Later Cards Transaction Values (MAD Million), 2011–2020

Table 36: Morocco – Personal and Commercial Pay Later Cards Transaction Values (US$ Million), 2011–2020

Table 37: Morocco – Number of Commercial Pay Later Cards in Circulation (Thousand), 2011–2020

Table 38: Morocco – Commercial Pay Later Cards Transaction Volumes (Million), 2011–2020

Table 39: Morocco – Commercial Pay Later Cards Transaction Values (MAD Million), 2011–2020

Table 40: Morocco – Commercial Pay Later Cards Transaction Values (US$ Million), 2011–2020

List of Figures

Figure 1: Morocco – Payment Instrument Shares by Transaction Value (%), 2011 vs 2015

Figure 2: Morocco – Payment Instrument Shares by Transaction Volume (%), 2011 vs 2015

Figure 3: Morocco – E-Commerce Value, 2011–2020

Figure 4: Morocco – Population

Figure 5: Morocco – Economic Indicators

Figure 6: Morocco – ATMs and POS Terminals

Figure 7: Morocco – Household Consumption

Figure 8: Morocco – Growth in Payment Cards Transaction Values, 2011–2015

Figure 9: Morocco – Number of Cards in Circulation by Type, 2011–2015

Figure 10: Morocco – Debit Card Penetration, 2015

Figure 11: Morocco – Turnover Per Debit Card, 2015

Figure 12: Morocco – Debit Card Scheme Shares in Terms of Transaction Value (%), 2015

Figure 13: Morocco – Debit Card Issuer Shares in Terms of Transaction Value (%), 2015

Figure 14: Morocco – Pay Later Card Penetration, 2015

Figure 15: Morocco – Turnover Per Pay Later Card, 2015

Figure 16: Morocco – Pay Later Cards Scheme Shares in Terms of Transaction Value (%), 2015

Figure 17: Morocco – Pay Later Cards Issuer Shares in Terms of Transaction Value (%), 2015

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