Morocco’s Competition Council is poised to make a key ruling in a dispute between NAPS, a subsidiary of M2M, and the Centre Monétique Interbancaire (CMI). NAPS has accused CMI of abusing its dominant market position, particularly by setting excessively low prices for electronic payment terminals and its e-commerce platform. According to NAPS, this pricing strategy stifles innovation and restricts market access for new entrants.
With the investigation now complete, the regulatory body has sought input from Bank Al-Maghrib and various banks to explore potential market adjustments. If the council confirms CMI’s abuse of its dominant position, the decision could lead to a shift in payment services toward other providers, potentially opening the sector to increased competition.
This upcoming decision is highly anticipated, as it could reshape Morocco’s electronic payments landscape. Allowing more players to enter the market might spur innovation and offer consumers and businesses more diverse payment options.
Since its establishment in 2004 by a coalition of Moroccan banks, CMI has become a key player in the electronic payment sector. These banks, which remain CMI’s main shareholders, benefit from both dividends and transaction commissions. CMI provides an extensive range of services to its partners, including individuals, merchants, e-commerce platforms, banks, and institutions. These services include electronic payment terminals (TPE), e-commerce interfaces, CMI-branded cards, multichannel solutions such as the Fatourati bill payment platform, mobile payment services, and other value-added electronic payment solutions.
If the Competition Council rules in favor of NAPS, it could not only introduce more competition but also drive technological advancements, ultimately benefiting Moroccan consumers and businesses by offering a broader array of payment services.
