Why Moroccans Have Smartphones and Credit Cards but Still Pay Cash

Morocco is a very connected country. Most people have a mobile phone, and internet access is growing fast. According to the video summary, around 90% of the population has a mobile phone, 65% has regular internet access, and internet penetration is even above 100% according to ANRT. ANRT data also shows that Morocco had more than 40 million internet subscriptions at the end of 2024. (ANRT)

But there is a paradox.

Even with smartphones, internet, banking apps, and mobile wallets, many Moroccans still prefer cash. According to the 2025 World Bank Global Findex data mentioned in the summary, only 32% of Moroccans used a digital payment method in 2024. This is lower than countries like Egypt at 50% and Jordan at 57%. (World Bank)

For me, this shows that the problem is not only about technology. The tools exist, but people do not always trust them or use them in daily life.

A good example is e-commerce. Many people have bank cards, but they still prefer to pay cash on delivery. They want to see the product first before paying. This shows that trust is one of the biggest barriers to digital payments in Morocco.

Another problem is financial inclusion. Only about 44% of adults in Morocco have a bank account or an electronic wallet. This means that more than half of adults are still outside the formal financial system. Many people work in the informal economy and do not have clear income documents, so it is hard for them to access normal banking services.

The problem is also visible among young people. The summary says that around 90% of online purchase or subscription attempts by young people are abandoned because they do not have a bank account. Banks may offer free accounts, but if the account is empty or has possible fees later, people do not always see the value.

Merchants also face challenges. Morocco has around 2 to 3 million merchants, but only 40,000 to 50,000 very small businesses are formally equipped for electronic payments. Some merchants also do not like waiting at least 24 hours to receive the money in their account. Others see payment commissions as an extra cost.

Savings and credit are another important part of the story. The summary says that less than 5% to 10% of households can save money regularly. And when people save, they often do it outside banks. Only 6% of Moroccans save through a financial institution, and only 1% used formal credit during the last year. Many people still use family, friends, or traditional systems like Daret, which is used by more than 700,000 Moroccans.

For fintech startups, this is both a big opportunity and a big challenge.

Startups can build better wallets, easier payment tools, or digital versions of traditional habits like Daret. But regulation can be difficult. The summary mentions that crowdfunding rules took 4 to 5 years to appear, and crypto regulation has been in preparation for around 3 years. Reuters also reported that Morocco is preparing a crypto law and that Bank Al-Maghrib is studying a central bank digital currency for payments and financial inclusion. (Reuters)

My point of view is simple: Morocco does not need only more fintech apps. Morocco needs fintech solutions that match real Moroccan habits.

People need simple tools they can trust. Merchants need fast and cheap payment solutions. Young people need easy access to financial services. Regulators need to protect users, but also leave space for local startups to test and innovate.

Morocco is already connected. The next step is to make digital finance useful in everyday life.

If fintech in Morocco can solve real problems around trust, cash habits, small merchants, savings, and access to banking, then digital payments can become much more than a trend. They can become part of daily Moroccan life.