MAD 400 billion this is a beautiful jackpot that makes heads turn: this is the estimate unveiled last November the amount of cash transactions in Morocco. A nice jackpot that can be dematerialized for the benefit of the payment market which is currently experiencing an unprecedented profusion thanks to the M-Wallet launched at the end of the year by the Central Bank and the ANRT, allowing the interoperability of mobile payment. The solution that allows electronic and dematerialized payment transactions of merchants, money transfers from person to person, as well as withdrawal and cash deposit operations; has provoked a general craze among both financial and non-financial operators given the opportunity offered by this activity.
To such an extent, this sector of activity, which pits operators in the same field against each other and with operators in other fields (banks against telecom operators or independent players), continuously records the arrival of new players on the market scene.
The latest is Orange Money Morocco which is officially operational on the market with the publication of its approval in the official bulletin of August 12, 2019. Indeed in accordance with Law 103-12 relating to credit institutions and similar organizations, the subsidiary of the Orange telecom operator, filed an application for approval in February 2018 and provided additional information in July 2018 before obtaining its sesame to operate in Morocco. Knowing that Orange Money started its activity in Africa, particularly in Ivory Coast since 2008!
Suffice to say that it is a mastodon that is entering the Moroccan market since in Africa, the subsidiary has 40 million customers in 17 countries of presence and reached 26 billion euros in transactions in 2017.
Through its new subsidiary with a capital of MAD 10 Million, Orange finally joins the other two telecom operators in the payment business and can, by virtue of its approval and in accordance with the law 103-12, propose payment services, in particular the transfer of funds, cash deposits and withdrawals to a payment account, the execution of payment transactions by any means of remote communication as an intermediary and the execution of permanent or unit levies card payment transactions and the execution of transfers when they relate to funds placed in a payment account.
The offers of the newly operational operator will not fail to create competitiveness in this very competitive sector. And again, the accreditation process is not yet over with the arrival of other operators.