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Tuesday, May 21, 2024

Electronic Money Activity in Morocco: 518.5 Mln Transactions for Over MAD 428 Bln in 2022 – CMI

The global realizations of the electronic banking activity have reached 518.5 million operations for a total amount of 428.2 billion dirhams during the year 2022, according to the Interbank Electronic Money Center (CMI).

This activity, which includes cash withdrawal operations on the ATM network, payment operations with merchants and eMarkets, payment operations on ATMs and Cash Advance operations, by Moroccan and foreign bank cards, in Morocco, increased by 17.2% in number of operations and by 15.1% in amount compared to the year 2021, says the CMI in its recent report.

During the year 2022 and in Morocco, Moroccan cards recorded, in payments and withdrawals, 494.2 million transactions for 399 billion dirhams, up 15% in number of transactions and 11.7% in amount.

Moroccan card transactions in Morocco are divided into withdrawals (72.8% in terms of number of transactions and 88.0% in terms of amount), payments at merchants and e-merchants (27.0% in terms of number of transactions and 12.0% in terms of amount) and payments at automated teller machines (ATMs) with 0.3% in terms of number of transactions and 0.1% in terms of amount, according to the same source.

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