Credit du Maroc and Mastercard Sign Strategic Partnership to Advance Digital Transformation in Morocco

Credit du Maroc and Mastercard have signed a strategic partnership agreement to bring new technologies to the market, contribute to advancing the bank’s digital transformation, and provide personalized solutions to its customers.

Both banking giants state that this partnership aims to address the daily financial needs of Moroccans and reinforce the bank’s position as an innovative player in the banking sector.

Ali Benkirane, Chairman of the Management Board of Credit du Maroc, stated in a press release that “we are convinced that our new partnership will contribute to promoting the adoption of digital payments in Morocco by providing our customers with seamless and personalized solutions, with the aim of improving their satisfaction and financial security.”

Dimitrios Dosis, President of Eastern Europe, Middle East and Africa at Mastercard, emphasized the company’s commitment to driving digital transformation and financial inclusion in Africa. “At Mastercard, our mission is to accelerate digital transformation and improve financial inclusion in Africa,” he said.

Dosis further highlighted Morocco’s significance in Mastercard’s growth strategy, stating, “As a regional economic and financial hub, Morocco is an integral part of our growth strategy. Building on the success of our new partnership with Credit du Maroc, we look forward to intensifying our joint efforts to connect and power a thriving and sustainable digital economy in the Kingdom.”

Morocco has made great strides in boosting financial inclusion by focusing on households, micro, small and medium-sized enterprises (MSMEs), women, youth, and rural populations.

According to World Bank data, the number of Moroccans with access to a bank account increased from 29% in 2017 to 44% in 2023, with digital financial services emerging as a key catalyst for this progress.

The two operators have sealed this partnership to contribute to the development of digital financial services in Morocco, thus accelerating the digital transformation in the country.

According to the statement, the collaboration aims to bring innovative solutions to the market, enhance customer experience, and promote the adoption of digital payments in the country.

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