Morocco
Morocco, with a population of approximately 37 million, is witnessing rapid growth in digital payments, accelerated by the COVID-19 pandemic. Consumers increasingly use mobile payments, online banking, debit and credit cards, and digital wallets, reducing reliance on cash and driving financial inclusion.
Morocco’s economy relies heavily on imports and exports, with 2023 exports valued at around US$42 billion, including phosphates, textiles, and agricultural products, and imports totaling approximately US$65 billion, mainly machinery, petroleum products, and consumer goods. The country maintains strong trade connections with neighboring countries like Algeria, Spain, and France, as well as global markets. Cross-border transactions and remittances from Moroccans living abroad further stimulate the digital payments ecosystem.
According to Statista, the digital payments transaction value in Morocco is projected to reach US$5.38 billion in 2023, reflecting rapid adoption of mobile wallets, fintech solutions, and contactless payments. These trends are driving e-commerce growth, cashless transactions, and innovation in Morocco’s financial sector.
Top banks
Morocco’s banking sector is well-established and diverse, featuring leading institutions such as Attijariwafa Bank, Banque Populaire, BMCE Bank, Société Générale Maroc, Citibank, and Crédit du Maroc. These banks provide a wide range of retail, corporate, and digital banking services, supporting financial inclusion, e-commerce, and the growth of Morocco’s cashless economy.
Crédit du Maroc (CDM)
Crédit du Maroc (CDM) - is a Moroccan commercial bank founded in 1929. Long owned by the giant Crédit agricole SA.
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Banque Marocaine du Commerce Extérieur (BMCE)
Banque Marocaine du Commerce Extérieur (BMCE) - Bank of Africa is a large commercial bank in Morocco, known until 2020 as Banque Marocaine du Commerce Extérieur. According to the company's website, it operates over 697 branches in Morocco.
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Attijariwafa Bank Banque Marocaine du Commerce et de l’Industrie (BMCI)
Attijariwafa Bank Banque Marocaine du Commerce et de l’Industrie (BMCI) - the Moroccan Bank for Commerce and Industry or BMCI , is a Moroccan commercial bank , a subsidiary of the French group BNP Paribas , headquartered in Casablanca .
Société Générale (SGM)
Société Générale (SGM) is one of the main French banks and among the oldest financial institutions, founded in 1864. Société Générale is the third-largest bank in France by total assets, after BNP Paribas and Crédit Agricole. It is also the sixth-largest bank in Europe and ranks 21st globally. The Société Générale Group, with €1,214 billion in assets, is a leading provider of retail banking, corporate banking, investment banking, financial services, and international banking solutions. Known for stability, innovation, and global reach, Société Générale remains a trusted partner for individuals, businesses, and institutional clients.
Citibank Maghreb (Citigroup)
Citibank Maghreb, a major Citigroup subsidiary in Morocco since 1967, is a leading provider of commercial and investment banking services. The bank supports multinational companies, local corporates, and public institutions with expert solutions in trade finance, treasury, FX, and capital markets. With its global network, Citibank Maghreb connects Morocco to international financial markets and remains a trusted partner for corporate banking and global financial services in the region.
Top payment methods
Morocco’s payment landscape is rapidly evolving, blending traditional cash transactions with modern digital solutions. Popular methods include credit and debit cards, mobile payments, e-wallets, and online banking, as well as services like Inwi Money, Orange Money, and MobiCash, driving a cashless economy, fintech growth, and financial inclusion across the country.
Inwi Money
Inwi Money - pay for your purchases in Marjane (Marjane is a Moroccan hypermarket) chain. How does it work? Create an account, deposit money and carry out your operations immediately and safely. You can also withdraw your money in cash at the nearest Inwi money authorised point of sale.
Orange Money
Orange Money enables major market players to accept online payments.It was designed for Web merchants. The Orange Money Web Payment / M Payment service is dedicated to merchants, whether they already possess an e-commerce website or not. These merchants just have to sign up for our solution in an Orange store in their country of business. They must be officially registered retailers. Integration process goes with the API to your website. 3 easy steps: • Subscribe to the Orange Money service and accept the Web Payment / M Payment offer conditions;• Integrate with API;• Bill customers for their purchases via Orange Money.
MobiCash
MobiCash - Its first service of money transfer and payment by cell phone with QR code. This service allows you to make payments via your smartphone and through debit and credit cards at selected merchants who accept payments through “Arabi MobiCash” service and provides you with a host of features including:
• Simple, fast and a secure modern mobile payment method
• Can be linked to any card type (Visa and MasterCard), and you can add as many cards as you like (credit, debit, prepaid, etc.)
• Environment friendly, No need for printed receipts.
• Provides detailed reports and dashboards of all transactions.
• Account can be set up through the app without the need to visit the Bank.
• Allows customers to pick up the bill from the merchant and pay it without the need of physical presence at the merchant’s site.
Concluding remarks
In Morocco, cash remains widely used, especially in rural areas, while digital payments, mobile wallets, and online banking are rapidly growing. Services like Inwi Money, Orange Money, and MobiCash support financial inclusion, cashless transactions, and e-commerce expansion.
Cash
Cash is still the most commonly used payment method in Morocco. Many transactions, particularly in small businesses, are still conducted using cash.Bank transfers: Bank transfers are a popular way to pay bills or transfer money between bank accounts. This method is particularly common among larger businesses and corporations.
Debit cards
Debit cards are widely accepted in Morocco and are commonly used for everyday purchases. Many people use their debit cards to withdraw cash from ATMs.
Credit cards
Credit cards in Morocco are not as commonly used as debit cards, but their usage is increasing. Tourist destinations and larger businesses are more likely to accept credit card payments, especially for international transactions. Visa and Mastercard are the most widely accepted networks for credit card payments in Morocco.
Mobile payments
Mobile payment systems are becoming increasingly popular in Morocco. Several mobile payment providers like MobiMoney, OrangeMoney, MobiCash that allow users to transfer money using their mobile phones.
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