Accelerating payments innovation in Morocco

The digital payments market in Morocco is witnessing a remarkable surge, driven by a young and tech-savvy population, along with the rising popularity of e-commerce. According to data by Statista, the total value of digital transactions in the country is expected to reach $6.53 billion this year, with projected growth to $8.468 billion by 2028.

At Mastercard, we are committed to supporting Morocco's digital transformation by joining forces with key ecosystem players. In this context, we have entered a long-term strategic partnership with BANK OF AFRICA, one of the country’s largest banks. The collaboration aims to accelerate the digitalization of payments, based on our shared vision of driving digital innovation and promoting financial inclusion.

Focused on enhancing the bank's card portfolio, the partnership leverages our global expertise and best practices to support the bank in developing its offerings for individuals and companies of all sizes, as well as fast-tracking the deployment of digital financial services. Together, we plan to launch multiple new products in the Moroccan market that meet the evolving needs of consumers and businesses, helping position BANK OF AFRICA as a leader in digital payments in the country.

We will provide the bank's customers with innovative, seamless and secure payment solutions, powered by advanced technology, that will make their lives more convenient and rewarding. Our collaboration seeks to contribute to the rapid growth of Morocco’s digital payments ecosystem and bring more people into the digital economy.