Morocco Expands Fintech Strategy with Digital Payments Push

Bank Al-Maghrib is turning to fintech startups to accelerate digital payments and reduce the economy’s reliance on cash. The move matters for investors because the central bank is pairing regulatory easing with an Open Banking framework that could widen opportunities for payment firms, data-led lenders and infrastructure providers.

Fintech push

Bank Al-Maghrib said fintech companies have a key role in making digital financial services more accessible. Director General Abderrahim Bouazza made the remarks at the closing ceremony of the Morocco Fintech Booster programme in 2026.

The central bank said cash still dominates for many Moroccans. It linked that to the informal economy, cultural preferences, precautionary savings and limited merchant acceptance.

Bank Al-Maghrib also said adoption has been held back by limited merchant acceptance. It pointed to financial inclusion gaps in rural areas and among women. It also cited slow digitisation of public payments.

Morocco has already begun tightening the policy framework around payments. There is no confirmed public information that Morocco capped electronic payment fees in June 2026; instead, policy discussions have focused on modernising the payments framework and promoting digital finance without a specific fee cap measure on that date.

Open banking and market opening

The central bank said it has opened the market to payment institutions. It has also launched an interoperable mobile payment system. Moreover, Bank Al‑Maghrib has signalled a willingness to ease regulatory requirements for new entrants as part of its ongoing fintech strategy.

Bank Al-Maghrib is now preparing an Open Banking framework. The planned framework is expected to facilitate services such as payment initiation, account aggregation, digital identity verification and credit scoring. Those functions could help fintechs build new products with lower friction and better risk tools.

The bank also said it will simplify regulations further. It plans to speed up fintech application processing and improve regulatory transparency. That approach should support a more inclusive and connected financial system.

For Morocco’s payments market, the direction is clear. The central bank wants broader use of digital payments and stronger private-sector participation. Investors should watch for faster merchant onboarding, more fintech licensing activity and early signs of Open Banking adoption.

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