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Learn moreDec 2020
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The presence of the COVID-19 pandemic in Morocco during 2020 led to strong growth being recorded in the use of debit cards, with increases seen in debit card transactions value and volume over the course of the year. The use of debit cards as tools to withdraw cash from ATMs spiked massively during the early stages of the COVID-19 quarantine lockdown, remaining high during the year as many Moroccans sought to stock up on cash in response to the COVID-19 situation.
Growth in debit card transactions during the year was also spurred by the strong increase seen in the use of debit cards as payment tools in both the proximity and remote environments. It is important to consider that Morocco’s banked population is substantial, standing at 21.
Debit card usage remains limited in Morocco and the main reason is the general lack of EFTPOS payment infrastructure at points of sale, which inhibits the ability of consumers to pay with financial cards. The majority of retail stores, consumer foodservice establishments and governmental institutions still deal exclusively with cash and thus debit cards are mainly used to withdraw cash from ATMs.
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Discover the latest market trends and uncover sources of future market growth for the Debit Transactions industry in Morocco with research from Euromonitor's team of in-country analysts.
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If you're in the Debit Transactions industry in Morocco, our research will save you time and money while empowering you to make informed, profitable decisions.
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Euromonitor’s industry reports, including Debit Transactions in Morocco, originate from our database within our Consumer Finance market share and market size database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.