Bank Al-Maghrib Reports 20% Growth in Morocco’s Card Payments

09:15

Morocco’s shift towards electronic payments gathered momentum in 2025, with bank card transactions increasing in both volume and value. However, cash withdrawals continued to dominate card-related activity, highlighting the gap between the growing use of digital payment solutions and the country’s enduring reliance on cash.

According to Bank Al-Maghrib’s annual report on financial market infrastructures and payment methods, card payments, including transactions conducted through automated teller machines and online platforms, reached 230.1 million operations in 2025. Their total value amounted to 70.8 billion dirhams, representing an annual increase of approximately 20% in transaction volume and 12% in value.

The figures point to a changing payment landscape in Morocco, where electronic transactions are expanding across retail outlets and online services, even as cash remains deeply embedded in everyday financial habits.

Electronic Payments Expand Across Retail and Online Channels

Payments made through electronic payment terminals recorded particularly strong growth. Their number rose by 20%, from 153.3 million transactions in 2024 to 184.5 million in 2025.

The value of these transactions also increased, reaching 58.6 billion dirhams, compared with 52.2 billion dirhams a year earlier. The figures underline the continued importance of point-of-sale terminals in facilitating card payments across the Moroccan economy.

Online transactions followed a similar upward trend. E-commerce payments increased by 16% in volume to 44.8 million operations, while their total value climbed by 10% to 12.1 billion dirhams.

This growth reflects the expanding role of digital channels in commercial exchanges, including online purchases and payments for services. It also highlights the importance of accessible and reliable electronic payment infrastructure as businesses and consumers increasingly use digital platforms.

Cash Withdrawals Still Dominate Card Activity

Despite the expansion of electronic payments, withdrawing cash remained the most common use of bank cards in Morocco.

The number of cash withdrawals rose from 401 million operations in 2024 to 450 million in 2025, an increase of 12%. In monetary terms, withdrawals reached 460 billion dirhams, up from 403 billion dirhams the previous year, representing growth of 14%.

The distribution of transactions nevertheless suggests a gradual shift towards electronic purchases. Cash withdrawals accounted for 66% of card operations in 2025, compared with 68% in 2024. Payments represented 34%, up from 32%.

However, the picture differs when measured by value. Withdrawals represented 87% of the total value of card operations, compared with 86% a year earlier, while the share attributable to payments fell from 14% to 13%.

These contrasting figures show that electronic payments are becoming more frequent without yet matching cash withdrawals in overall monetary weight.

A Gradual Change in Consumer Payment Habits

The proportion of transactions made by Moroccan cardholders within Morocco also increased in volume terms. The payment ratio rose from 32.43% in 2024 to 33.85% in 2025.

Measured by value, however, the ratio declined from 13.59% to 13.35%. This divergence suggests that card payments are being used more frequently, while withdrawals continue to account for a substantial share of the amounts circulating through the banking card system.

The development of digital commerce and the wider availability of electronic payment terminals are important elements of this transition. Nevertheless, the figures indicate that greater transaction volumes alone do not necessarily translate into a comparable reduction in cash dependence.

Automated Teller Machine Payments Also Increase

Payments carried out through automated teller machines recorded growth in 2025, rising by 9% in volume and 30% in value, according to Bank Al-Maghrib.

Although these transactions represent a different channel from payments made at retail terminals or on e-commerce platforms, their expansion adds another dimension to the evolving use of bank cards.

Taken together, the indicators point to a market in which several payment channels are developing simultaneously, while cash withdrawals retain a dominant position.

Digital Payment Infrastructure Faces Its Next Challenge

Morocco’s latest payment figures reveal a gradual transformation rather than a complete departure from cash. The increase in electronic transactions demonstrates growing use of card-based payments, particularly at physical points of sale and on online platforms.

The next challenge will be to turn this expansion in transaction volume into a broader change in everyday payment practices. The continued development of accessible payment solutions, alongside consumer confidence and merchant adoption, will remain important factors in determining how quickly electronic payments gain a larger share of the Moroccan economy.

For now, the 2025 figures offer a clear indication of the direction of travel: card payments are gaining ground, but cash remains central to the country’s financial habits.