Morocco Toward a Cashless Society: Where Do We Stand?

The Current Payment Landscape in Morocco

Morocco stands at a decisive turning point in its transition toward a less cash-dependent economy. While the path to a truly cashless society remains long, the progress made in recent years is undeniable. The numbers speak for themselves: the number of card transactions increased by over 35% between 2022 and 2025, and mobile payment volume quadrupled over the same period.

This acceleration is no accident. It results from the convergence of several factors: strong political will driven by Bank Al-Maghrib through its national electronic payment strategy, the lasting impact of the pandemic on payment behavior, the expansion of e-commerce, and the emergence of new technology players making electronic payment more accessible.

Key Card Penetration Figures

Morocco now has approximately 20 million bank cards in circulation, a figure that has doubled in ten years according to data from the Haut-Commissariat au Plan. The national bank card remains dominant, but the proportion of international cards (Visa, Mastercard) is steadily growing, driven by e-commerce development and international travel.

The acceptance network has expanded considerably. The number of POS terminals installed at merchants exceeds 120,000 units, up from less than 60,000 in 2018. This densification of the network is a key factor in encouraging everyday card usage.

In terms of transactions, the annual volume of card payments at merchants has surpassed 250 million operations, for a total amount exceeding 80 billion dirhams. Contactless payments now account for over 45% of these transactions by number, illustrating the rapid adoption of this technology by Moroccan consumers, as we detail in our article on the benefits of NFC contactless payment.

Mobile Payment Growth

Mobile payment is the most dynamic segment of the ecosystem. The deployment of Maroc Pay and banking mobile wallets has created a new use case that particularly appeals to young urban consumers.

The number of mobile payment transactions has grown exponentially, from a few hundred thousand in 2021 to several million per month in 2025. Average amounts remain modest, confirming that mobile payment is primarily used for low-value daily purchases: cafes, bakeries, transport.

Interoperability between different mobile wallets, made possible by the national interbank payment infrastructure, is a major accelerator. A consumer can now pay with their banking app at any affiliated merchant, regardless of their bank.

Comparison with Regional Peers

To measure Morocco's progress, it is instructive to compare it with regional neighbors.

Tunisia significantly lags in electronic payment. The banking rate is below 40%, and the card acceptance network remains limited. Mobile payment is in its early stages, despite recent initiatives by Tunisian authorities.

Egypt, with its 105 million inhabitants, presents an immense market still largely dominated by cash. However, the country has made remarkable progress through mobile money and digital wallets. The Meeza initiative, Egypt's national payment network, has helped accelerate financial inclusion.

The United Arab Emirates represents the regional benchmark for cashless. With an electronic payment rate exceeding 70%, the country has practically completed its transition. This performance is explained by an affluent urban population, cutting-edge technology infrastructure, and proactive regulation.

Morocco occupies an intermediate position -- ahead of the Maghreb but still far from Gulf standards. The gap reflects structural differences in per capita income, urbanization, and banking sector maturity.

The Lasting Impact of COVID-19

The COVID-19 pandemic served as an unexpected accelerator for Morocco's cashless transition. Social distancing measures and health concerns about handling banknotes pushed many Moroccans to discover contactless payment.

The figures are striking: between 2019 and 2021, the number of contactless card transactions increased by over 300%. This habit, born from a health constraint, has become firmly embedded in behavior. Even after restrictions were lifted, contactless usage continued to grow.

E-commerce also exploded during the pandemic, creating a new generation of consumers accustomed to paying online. Read our guide to accepting online payments for your e-commerce in Morocco. Food delivery platforms, online grocery services, and e-commerce sites all contributed to familiarizing Moroccans with digital payment.

Persistent Barriers

Despite this progress, several obstacles continue to slow cashless adoption in Morocco.

The cultural barrier remains the most stubborn. In many sectors, cash remains the default payment method. Souks, neighborhood markets, small shops, and the informal economy still operate predominantly in cash. Changing these deeply ingrained habits takes time and continuous awareness efforts.

The infrastructure barrier mainly concerns rural and semi-urban areas. While major cities are relatively well covered with POS terminals, less dense areas remain underequipped. Network coverage (internet and mobile) is a prerequisite that some regions do not yet fully meet.

The economic barrier affects small merchants for whom terminal costs and transaction fees represent a significant burden. Even though these costs have dropped considerably, the perception of expensive electronic payment persists.

Finally, the trust barrier concerns a segment of the population that remains wary of digital technologies. Concerns focus on transaction security, personal data protection, and the fear of losing control over spending.

Projections for 2028

The outlook for 2028 is optimistic. If current trends continue and Bank Al-Maghrib's national strategy delivers results, Morocco could reach a rate of 40% cashless transactions by the end of the decade.

Several factors support this trajectory. The coming of age of a digital-native generation, accustomed to smartphones and payment apps, creates natural demand for cashless solutions. The rollout of instant payment and the expansion of QR codes offer new low-cost acceptance possibilities.

Financial inclusion initiatives, notably simplified payment accounts and payment agents, will integrate populations previously excluded from the system. The role of players like TKpay is central to this democratization, making electronic payment accessible and profitable for merchants of all sizes.

Conclusion

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Morocco is not yet a cashless society, but it is resolutely moving in that direction. The foundations are laid, the actors are mobilized, and habits are evolving. The road ahead is still long, but every new merchant that equips itself with a terminal, every consumer who adopts contactless payment, brings the country closer to this goal. TKpay is proud to contribute to this historic transformation.