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Morocco: Card payments work well

The electronic money business in Morocco recorded 97.2 million transactions for a total amount of 80.7 billion dirhams (MMDH) during the first quarter of 2019, up 10.5% in number of transactions and 9% in amount compared to the same period a year ago, according to the Center interbank monetary (CMI).

These achievements of the electronic banking activity include cash withdrawals from the ATM network, payment transactions from merchants and eMerchants, ATM payment transactions and Cash Advance transactions, by credit card, Moroccans and foreigners in Morocco, says the CMI in its report on the Moroccan money market activity, published on its website.

The report thus shows that during Q1-2019 and in Morocco, Moroccan cards recorded, in payments and withdrawals, 92.6 million transactions amounting to 74.4 billion dirhams (+9.9% in number and +8.8% in amount).

These operations are distributed as a withdrawal (81.5% as a share of the number of transactions and 90.6% as a share of the amount), as payment to merchants and merchants (17.6% as a share of the number of transactions and 9.2% share of the amount) and payment on ATM (0.9% in share of the number of operations and 0.2%, in the share of the amount).

By sector of activity, payments by Moroccan bank cards are divided, in terms of volume, on supermarket (24.5%), clothing (12.5%), restaurants (9.7%), stations (8.1%), health (4.6%) and other sectors (41.3%).

The CMI also reports that Moroccan cards with international validity made 2 million overseas transactions, withdrawals and payments, for a total amount of 1.3 billion dirhams in Q1-2019, an increase of 72.5% in number and 34.0% in amount, compared to the same period in 2018.

Regarding foreign cards, they recorded, in payments and withdrawals, 4.6 million transactions for an amount of MAD 6.4 billion (+15.1% in number and +11.0% in amount), says the report.

These are withdrawals (44.1% in the number of transactions and 43.7% in the share of the amount), payments (55.1% as a share of the number of transactions and 54.8% in part of the amount) and cash Advance (0.8% in the share of the number of operations and 1.5% in the share of the amount), specifies the same source.

Payments by foreign bank cards are divided, in terms of volume, on hotels (42.1%), restaurants (14.6%), bazaars (10.7%), Duty Free (4.7%), supermarket chains (4.4%) and other sectors (23.5%).

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