Mobile payments are steadily gaining ground in Morocco, with a growing number of users and increasingly active accounts. According to the latest banking oversight report from Bank Al-Maghrib, nearly 13.8 million payment accounts had been opened with authorized institutions by the end of 2024—a 33 percent jump compared to the previous year.
This surge is closely tied to the rollout of various social welfare programs that began in 2023. As these initiatives expand, they are helping drive wider adoption of electronic payment systems, particularly among segments of the population that previously relied on cash-based transactions.
But it’s not just the number of accounts that’s rising—their usage is also climbing. By the final quarter of 2024, nearly 28 percent of all open accounts had recorded at least one transaction, up sharply from 17.7 percent a year earlier. That translates to about 3.81 million accounts being actively used, indicating that more people are integrating mobile payments into their regular financial routines.
A shift is also underway in the type of accounts being opened. Higher-tier accounts—specifically those classified as level 3, which allow balances up to 20,000 dirhams—have now become the most common. They made up 38.2 percent of all new accounts in 2024, a significant increase from 29 percent the year before. Meanwhile, more basic account types are losing ground: both level 1 (capped at 200 dirhams) and level 2 (limited to 5,000 dirhams) each represented only 31 percent of new openings.
The commercial sector is keeping pace with these changes. The number of merchant accounts capable of accepting payments through M-Wallet services grew by 8 percent, reaching nearly 56,000. This suggests that digital payment methods are becoming a regular feature of everyday transactions, even for small business owners and local retailers.
