The introduction of contactless technologies is expected to increase the use of cards in Morocco.

Tuesday 27 August 2013, Amsterdam

Morocco’s card payments channel recorded robust growth over the last 5 years and registered a CAGR of 15.14%, growing from MAD92.1 billion (US$12.0 billion) in 2008 to MAD161.9 billion (US$18.9 billion) in 2012. The growth was driven by infrastructural improvements such as contactless technology, an increase in the adoption of smartphones, and a reduction in card fraud.

Banks and retail outlets in Morocco expanded their infrastructure networks by increasing the number of ATMs installed from 3,629 in 2008 to 5,421 in 2012. The increasing acceptance of debit and credit cards at retail outlets and a consumer shift towards making purchases directly with cards resulted in an increasing number of point-of-service (POS) transactions during the same period. Due to the increase seen in both ATMs and POS terminals in Morocco, the use of cards as a payments channel is expected to register widespread acceptance over the next few years.

New technologies are improving the payment process.
Banks and retail organizations have been adopting new technologies to further improve their payment processes. Contactless, Europay, MasterCard and Visa (EMV) and mobile payments are being rolled out extensively across Morocco. As of 2012, all leading banks in the country offered EMV-compliant card solutions. The introduction of contactless technologies is expected to provide customers with an advanced and efficient payment technique that will increase the use of cards.

Adoption of effective security measures to combat card fraud.
Over the last few years, the central bank mandated the use of chip-based ATM cards, and EMV standards for credit cards, resulting in all leading banks offering EMV-compliant cards by the end of 2012. Moreover, the introduction of transaction alerts via short message services (SMSs) and the adoption of stronger authentication methods for online transactions resulted in a decline in card fraud between 2008 and 2012.

Banks and other card issuers are offering customized cards to target specific consumer groups.
Banks and other card issuers have been focusing on various customer segments by offering customized products. With competitive pressures in the Moroccan cards and payments industry, banks and issuers are developing marketing strategies with the aim of attracting larger customer bases. In addition to mass-market offerings such as cashback, discounts for retail outlets, buy-one-get-one-free offers, and reward points, banks and card issuers are also issuing customized cards focusing on particular customer groups.
Banks are segmenting their customer base in order to maximize the potential of expanding their market shares in each card category. Banks such as Attijariwafa Bank have launched prepaid cards specifically targeting women, while Banque Populaire (as well as Attijariwafa Bank) launched bank cards for students and the youth demographics aged 12-17. Credit and debit cards specifically designed to meet the needs of corporate customers are also prevalent


This report offers:
•    In depth analysis and market overview of the cards and payments industry in Morocco including industry drivers, consumer attitudes and trends.
•    Market attractiveness and future prospects of the Moroccan cards and payments industry as well as the strategies adopted by the key operators.
•    A segmented breakdown of the competitive landscape and industry dynamics within the Moroccan cards and payments industry and the sectors within it.
•    An insight into the industry size and growth potential.
•    A look into an assortment of Moroccan cards and payments companies, products and marketing strategies.

This will facilitate:
•    The increasing of your knowledge of the Moroccan cards and payments industry.
•    Your understanding of the key drivers within this industry.
•    A clear understanding of market opportunities and entry strategies to gain or grow your market share in the cards and payments industry in Morocco.
•    A greater understanding of the competitive landscape of the Moroccan cards and payments industry.