Electronic payment methods have recorded remarkable growth in Morocco during 2024.
The annual supervisory report released by Bank Al-Maghrib for the year 2024 indicates a significant increase in the use of electronic payment methods within the national market. This growth is driven by the rise in the number of registered devices to 94,387 units, reflecting a 13% increase compared to the previous year. This demonstrates a tangible shift towards digital transactions amid a rapidly evolving commercial landscape that increasingly relies on modern payment solutions.
The report notes that more than two-thirds of these devices, accounting for 72%, are classified as actively used, indicating a move beyond the trial phase to actual and increasing usage of digital payment solutions. This deployment was facilitated by two payment institutions and one banking entity, which made technology more accessible to a wide range of merchants of varying sizes, thereby bolstering efforts to integrate into the digital economy.
Bank Al-Maghrib highlighted a qualitative leap in the proliferation of devices enabling mobile payments through digital wallets, which now make up 93% of all installed devices, compared to just 75% in 2023. This growth coincided with a 13% increase in the number of merchants adopting these methods, surpassing 80,000, which underscores the growing reliance on digital payments in everyday economic life.
Most of these devices are concentrated in the Casablanca-Settat region, accounting for 35%, followed by Marrakech-Safi at 21%, and Rabat-Salé-Kénitra at 14%. The remaining percentages are spread across the northern and southern regions, reflecting variations in the pace of digital transformation according to geographical and economic specifics.
The report emphasized that the economic sectors that have most widely adopted these methods are led by the distribution sector at 23%, followed by health at 14%, and clothing at 13%. The tourism and restaurant sectors recorded lower percentages, demonstrating the diverse fields of electronic payment usage and its gradual integration into vital sectors of the national economy.
