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Emerging Opportunities in Moroccos Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape

Published By :

Timetric

Published Date : Aug 2013

Category :

Banking

No. of Pages : 80 Pages


Synopsis

The report provides detailed market analysis, information and insights into Morocco’s cards and payments industry, including:

  • Current and forecast values for each category of Morocco’s cards and payments industry including debit cards, credit cards, prepaid cards and charge cards
  • Comprehensive analysis of the industry’s market attractiveness and future growth areas
  • Analysis of various market drivers and regulations governing Morocco’s cards and payments industry
  • Detailed analysis of the marketing strategies adopted for selling debit, credit, charge and prepaid cards used by various bankers and other institutions in the market
  • Comprehensive analysis of consumer attitudes and their buying preferences for cards
  • Competitive landscape of Morocco’s cards and payments industry

Executive summary

Morocco’s card payments channel recorded robust growth during the review period (2008–2012) and registered a CAGR of 15.14%, growing from MAD92.1 billion (US$12.0 billion) in 2008 to MAD161.9 billion (US$18.9 billion) in 2012. The growth was driven by infrastructural improvements such as contactless technology, an increase in the adoption of smartphones, and a reduction in card fraud.

Over the forecast period (2013–2017), the channel is projected to grow from MAD174.9 billion (US$20.8 billion) in 2013 to MAD207.2 billion (US$24.6 billion) in 2017, after registering a CAGR of 4.32%. A rise in disposable income levels, stable inflationary forecasts, positive employment opportunities and an increasing volume of corporate and leisure travelers are some of the key factors expected to drive growth in the channel over the forecast period.

Scope

  • This report provides a comprehensive analysis of Morocco’s cards and payments industry.
  • It provides current values for Morocco’s cards and payments industry for 2012 and forecast figures for 2017.
  • It details the different macroeconomic, infrastructural, consumer and business drivers affecting Morocco’s cards and payments industry
  • It outlines the current regulatory framework in the industry
  • It details the marketing strategies used by various bankers and other institutions
  • It profiles the major banks in Morocco’s cards and payments industry

Reasons to buy

  • Make strategic business decisions using historic and forecast market data related to Morocco\'s cards and payments industry and each market within it
  • Understand the key market trends and growth opportunities within Morocco\'s cards and payments industry
  • Assess the competitive dynamics in Morocco\'s cards and payments industry
  • Gain insights into the marketing strategies used for selling various types of cards in Morocco
  • Gain insights into key regulations governing Morocco\'s cards and payments industry

Key highlights

  • Banks and retail outlets in Morocco expanded their infrastructure networks during the review period. The number of automated teller machines (ATMs) installed grew from 3,629 in 2008 to 5,421 in 2012, at a review-period CAGR of 10.56%. The increasing acceptance of debit and credit cards at retail outlets and a consumer shift towards making purchases directly with cards resulted in an increasing number of point-of-service (POS) transactions during the review period. The number of POS terminals in Morocco recorded a review-period CAGR of 4.67%, rising from 19,000 terminals in 2008 to 22,802 in 2012.
  • During the review period, the central bank mandated the use of chip-based ATM cards, and EMV standards for credit cards, resulting in all leading banks offering EMV-compliant cards by the end of 2012. Moreover, the introduction of transaction alerts via short message services (SMSs) and the adoption of stronger authentication methods for online transactions resulted in a decline in card fraud at a review-period CAGR of 7.78%, from MAD31.0 million (US$4.0 million) in 2008 to MAD22.4 million (US$2.6 million) in 2012.
  • Banks and other card issuers have been focusing on various customer segments by offering customized products. With competitive pressures in the Moroccan cards and payments industry, banks and issuers are developing marketing strategies with the aim of attracting larger customer bases. In addition to mass market offerings such as cashback, discounts for retail outlets, buy-one-get-one-free offers, and rewards points, banks and card issuers are also issuing customized cards focusing on particular customer groups.
  • Banks are segmenting their customer base in order to maximize the potential of expanding their market shares in each card category. Banks such as Attijariwafa Bank have launched prepaid cards specially targeting women, while Banque Populaire and Attijariwafa Bank launched bank cards for students and the youth demographic aged 12–17. Credit and debit cards specifically designed to meet the needs of corporate customers are also prevalent.
Table of contents

1 Executive Summary

2 Market Attractiveness and Future Prospects of the Cards and Payments Industry

3 Analysis of Moroccan Cards and Payments Industry Drivers
3.1 Infrastructure Drivers
3.1.1 Contactless and NFC technology as payment terminals
3.1.2 Increasing acceptance of EMV cards
3.1.3 Mobicash as mobile debit payment services
3.1.4 Growing number of ATMs and POS terminals
3.2 Business Drivers
3.2.1 Growth in retail sector
3.2.2 Growing mobile commerce
3.2.3 Growth in e-commerce
3.2.4 Outbound business and leisure travel
3.3 Consumer Drivers
3.3.1 Consumer confidence index
3.3.2 Increasing urbanization
3.3.3 Consumer spending habits
3.4 Macroeconomic Fundamentals
3.4.1 GDP growth
3.4.2 Inflation rate
3.4.3 Unemployment rate
3.5 Card Fraud Statistics
3.6 Regulatory Framework
3.6.1 Adherence to the PCI security standards
3.6.2 Anti-money laundering

4 Emerging Consumer Attitudes and Trends
4.1 Market Segmentation and Targeting
4.1.1 Retail Segment
4.1.2 Corporate Segment
4.2 Consumer Preference
4.2.1 Price
4.2.2 Services
4.2.3 Convenience
4.3 Preferred Payment Methods

5 Competitive Landscape and Industry Dynamics
5.1 Industry Share Analysis by Payment Channels
5.1.1 Overview of payment channels
5.1.2 Credit transfers
5.1.3 Direct debit
5.1.4 Cards payments
5.1.5 Check payments
5.2 Debit Cards
5.2.1 By bank
5.2.2 By scheme
5.3 Credit Cards
5.3.1 By bank
5.3.2 By scheme
5.4 Charge Cards

6 Strategies Adopted by Key Operators
6.1 Market Entry Strategies
6.2 Marketing and Product Strategies
6.2.1 Credit cards
6.2.2 Debit cards
6.2.3 Prepaid cards
6.3 Pricing Strategies

7 Industry Size and Growth Potential of Card Payments Channel
7.1 Industry Share Analysis by Type of Card
7.2 Total Market Size and Forecast of Card Payments Channel
7.2.1 Analysis by number of cards
7.2.2 Analysis by transaction value
7.2.3 Analysis by transaction volume
7.3 Debit Card Category Size and Forecast
7.3.1 Analysis by number of cards
7.3.2 Analysis by transaction value
7.3.3 Analysis by transaction volume
7.3.4 Other key performance indicators
7.4 Prepaid Card Category Size and Forecast
7.4.1 Analysis by segment – open- and closed-loop cards
7.4.2 Analysis by transaction value
7.5 Charge Card Category Size and Forecast
7.5.1 Analysis by number of cards
7.5.2 Analysis by transaction value
7.5.3 Analysis by transaction volume
7.5.4 Frequency of use
7.6 Credit Card Category Size and Forecast
7.6.1 Analysis by number of cards
7.6.2 Analysis by transaction value
7.6.3 Analysis by transaction volume
7.6.4 Other key performance indicators

8 Company Profiles, Product, and Marketing Strategies
8.1 Attijariwafa Bank
8.1.1 Key financials
8.1.2 Card portfolio
8.1.3 Strategies
8.2 Banque Marocaine du Commerce Extérieur (BMCE) Bank
8.2.1 Key financials
8.2.2 Card portfolio
8.2.3 Strategies
8.3 Banque Populaire
8.3.1 Card portfolio
8.3.2 Strategies
8.4 Credit du Maroc
8.4.1 Key financials
8.4.2 Card portfolio
8.4.3 Strategies

9 Appendix
9.1 Methodology
9.2 Contact Us
9.3 About Timetric
9.4 Disclaimer

List of Table


Table 1: Moroccan Payment Channels (MAD Million), 2008–2012
Table 2: Moroccan Card Payments Channel by Type of Card (Thousands), 2008–2017
Table 3: Moroccan Card Payments Channel Size by Volume (Thousands), 2008–2017
Table 4: Moroccan Card Payments Channel Size by Transaction Value (MAD Million), 2008–2017
Table 5: Moroccan Card Payments Channel Size by Transaction Value (US$ Million), 2008–2017
Table 6: Moroccan Card Payments Channel Size by Transaction Volume (Million), 2008–2017
Table 7: Moroccan Debit Card Category Size (Thousands), 2008–2017
Table 8: Moroccan Debit Card Category Size (MAD Million), 2008–2017
Table 9: Moroccan Debit Card Category Size (US$ Million), 2008–2017
Table 10: Moroccan Debit Card Category Size by Transaction Volume (Million), 2008–2017
Table 11: Moroccan Card Category Size by Frequency of Use (Transaction per Card per Year), 2008–2017
Table 12: Moroccan Prepaid Card Category Size (Thousands), 2008–2017
Table 13: Moroccan Open-Loop Prepaid Cards Category Size (Thousands), 2008–2017
Table 14: Moroccan Closed-Loop Prepaid Cards Category Size (Thousands), 2008–2017
Table 15: Moroccan Prepaid Cards Category Size (MAD Million), 2008–2017
Table 16: Moroccan Prepaid Cards Category Size (US$ Million), 2008–2017
Table 17: Moroccan Charge Card Category Size (Thousands), 2008–2017
Table 18: Moroccan Charge Card Category Size (MAD Million), 2008–2017
Table 19: Moroccan Charge Card Category Size (US$ Million), 2008–2017
Table 20: Moroccan Charge Card Category Size by Transaction Volume (Million), 2008–2017
Table 21: Moroccan Charge Card Category Size by Frequency of Use (Transactions per Card per Year), 2008–2017
Table 22: Moroccan Credit Card Category Size by Volume (Thousands), 2008–2017
Table 23: Moroccan Credit Card Category Size by Transaction Value (MAD Million), 2008–2017
Table 24: Moroccan Credit Card Category Size by Transaction Value (US$ Million), 2008–2017
Table 25: Moroccan Credit Card Category Size by Transaction Volume (Million), 2008–2017
Table 26: Moroccan Credit Card Category Size by Frequency of Use (Transactions per Card per Year), 2008–2017
Table 27: Moroccan Credit Card Category Size by Average Transaction Value (MAD), 2008–2017
Table 28: Moroccan Credit Card Category Size by Average Transaction Value (US$), 2008–2017
Table 29: Attijariwafa Bank Key Financial Indicators, 2010–2011
Table 30: Cards Offered by Attijariwafa Bank
Table 31: BMCE Bank Key Financial Indicators, 2010–2011
Table 32: Cards Offered by BMCE Bank
Table 33: Cards Offered by Banque Populaire
Table 34: Credit du Maroc Key Financial Indicators, 2011–2012
Table 35: Cards Offered by Credit du Maroc

List of Chart


Figure 1: Morocco – Growth of Various Card Categories (%), 2008–2017
Figure 2: Moroccan Cards and Payments Industry Drivers
Figure 3: Global EMV Adoption Levels
Figure 4: Number of ATMs in Morocco (Thousand), 2008–2017
Figure 5: Final Consumption Expenditure in Morocco (US$ Billion), 2008–2011
Figure 6: Moroccan Outbound Expenditure on Travel and Tourism (MAD Billion), 2008–2012
Figure 7: Moroccan Consumer Confidence Indicator, 2012–2013
Figure 8: Moroccan Urban and Rural Populations (Million), 2008–2012
Figure 9: Morocco GDP Growth Rate (%), 2008–2017
Figure 10: Morocco Inflation Rate (%), 2008–2017
Figure 11: Total Unemployment Rate (%), 2008–2017
Figure 12: Moroccan Card Fraud Statistics (MAD Million), 2008–2012
Figure 13: Moroccan Cards Payments Channel Segmentation by Card Type
Figure 14: Types of Cards Offered by Banks in Morocco
Figure 15: Cards for Premium Customers in Morocco
Figure 16: Cards for Niche Customer Segment in Morocco
Figure 17: Number of Outbound Trips on Travel and Tourism in Morocco (Thousand), 2008–2012
Figure 18: Cards Offered to Business Travelers and Professionals in Morocco
Figure 19: Shares of Payment Channels in Morocco (%), 2012
Figure 20: Value of Moroccan Credit Transfers (MAD Million), 2008–2012
.Figure 21: Value of Moroccan Direct Debit Transactions (MAD Million), 2008–2012
Figure 22: Value of Moroccan Cards Payments (MAD Million), 2008–2012
Figure 23: Value of Moroccan Check Payments (MAD Million), 2008–2012
Figure 24: Moroccan Debit Cards by Issuing Banks (%), 2011
Figure 25: Moroccan Debit Card Category Share by Scheme (%), 2011
Figure 26: Moroccan Credit Card Category Shares by Bank (%), 2011
Figure 27: Moroccan Credit Card Category Shares by Scheme (%), 2011
Figure 28: Moroccan Charge Card Category Shares by Scheme (%), 2011
Figure 29: Market Entry Strategies of Foreign Banks in Morocco, 2012
Figure 30: Morocco Marketing and Product Strategies Based on Card Type
Figure 31: Value Added Services Offered by Banque Populaire in Morocco
Figure 32: Pricing Strategies of Various Service Providers in Morocco
Figure 33: Morocco Card Payments Channel by Card Category (%), 2008–2017
Figure 34: Moroccan Card Payments Channel Size by Volume (Thousands), 2008–2017
Figure 35: Moroccan Card Payments Channel Size by Transaction Value (MAD Million), 2008–2017
Figure 36: Moroccan Card Payments Channel Size by Transaction Volume (Million), 2008–2017
Figure 37: Moroccan Debit Card Category Size (Thousands), 2008–2017
Figure 38: Moroccan Debit Card Category Size (MAD Million), 2008–2017
Figure 39: Moroccan Debit Card Category Size by Transaction Volume (Million), 2008–2017
Figure 40: Moroccan Card Category Size by Frequency of Use (Transaction per Card per Year), 2008–2017
Figure 41: Debit Card Use at ATMs and POS Terminals (Thousands), 2008–2017
Figure 42: Moroccan Prepaid Card Category Size (Thousands), 2008–2017
Figure 43: Moroccan Open-Loop Prepaid Cards Category Size (Thousands), 2008–2017
Figure 44: Moroccan Closed-Loop Prepaid Cards Category Size (Thousands), 2008–2017
Figure 45: Moroccan Prepaid Cards Category Size (MAD Million), 2008–2017
Figure 46: Moroccan Charge Card Category Size (Thousands), 2008–2017
Figure 47: Moroccan Charge Card Category Size (MAD Million), 2008–2017
Figure 48: Moroccan Charge Card Category Size by Transaction Volume (Million), 2008–2017
Figure 49: Moroccan Charge Card Category Size by Frequency of Use (Transactions per Card per Year), 2008–2017
Figure 50: Moroccan Credit Card Category Size by Volume (Thousands), 2008–2017
Figure 51: Moroccan Credit Card Category Size by Transaction Value (MAD Million), 2008–2017
Figure 52: Moroccan Credit Card Category Size by Transaction Volume (Million), 2008–2017
Figure 53: Moroccan Credit Card Category Size by Frequency of Use, 2008–2017
Figure 54: Moroccan Credit Card Category Size by Average Transaction Value (MAD), 2008–2017

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