Payment methods in Morocco - statistics & facts
In a world where digital payments are becoming the norm, Morocco stands out with its strong attachment to cash. Despite recent data indicating significant strides towards adopting new technologies, cash still reigns in this North African country. The balance between old and new methods of handling money makes us wonder: Is Morocco ready to embrace a digital financial future?
In 2021, Morocco led North Africa with the highest share of the population owning a debit or a credit card. By fostering financial inclusion in the country, account ownership has increased, and consequently, this has played a role in the rise of card usage. However, credit card ownership dropped noticeably in 2024. The reason for this is likely due to merchants not accepting certain cards as a means of payment. In March 2023, a survey revealed that most Moroccans made use of cash-on-delivery and credit cards as their preferred online payment method.
In 2021, Morocco led North Africa with the highest share of the population owning a debit or a credit card. By fostering financial inclusion in the country, account ownership has increased, and consequently, this has played a role in the rise of card usage. However, credit card ownership dropped noticeably in 2024. The reason for this is likely due to merchants not accepting certain cards as a means of payment. In March 2023, a survey revealed that most Moroccans made use of cash-on-delivery and credit cards as their preferred online payment method.
