Retail Payment Systems
In the OIC Member Countries
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At present, SIMT also processes on a national basis direct credits and direct debits. The
processing cycle for direct credits and direct debits is similar to cheques. Net balances are
calculated and settled at least once a day, and final settlement of net positions takes place
through an RTGS system.
The Moroccan Banking Association decided to facilitate a national card switch to integrate the
four previously non-interoperable ATM and PoS networks in the country. CMI is the network
switch: it provides technical processing, authorisation, clearing, and payment. There were
3,629 ATMs in the country and 5 million cards with cash functions as of 2008. Accessibility of
non-cash payment instruments and services for individuals through commercial banks is
adequate.
Mobile Payment Providers
1. Mobicash. Mobicash is a mobile money account on an IT platform that enables account
holders to conduct transactions through their mobile handsets on a USSD menu (cash
in/out, P2P transfers, P2Cash transfers, bill pay and airtime top up). International
transfers are available in partnership with Ping Ping in Belgium. Maroc Telecom owns and
operates the MC platform, however, the funds are stored in a ‘pivot account’ in one of two
banks, which are legally responsible for the funds. The banks have no direct interaction
with the MC customers, however. MC reports 100,000 clients for Mobicash. So far, the
transactions volume has been very low. MC customers can cash in and out at 420 Maroc
Telecom stores. MC charges 0.5% for withdrawals and MAD1-15 for P2P and P2Cash
transactions. It has a USSD driven menu with cash in/out, P2P transfers, bill pay, Airtime
top up. However, the service is run with only 2 dedicated people in marketing and sales,
plus some others part time.
2. Meditel. Meditel (an MNO) has launched a similar product to Mobicash using the South
African based Fundamo mobile financial services provider platform and linking to a pivot
account in BMCE. There is a memorandum of understanding between Medital and BMCE,
but not yet a formal IOB contract. Their initial product offering includes: P2P, transfers, top
up, cash in/out. Payments and use at ATMs through a card-based solution. Transfers
between regular accounts and e-wallets are not yet offered. The Meditel roll out has been
postponed by high level management turnover and hampered by lack of dedicated staff to
the implementation. Meditel has piloted the service with employees but has not yet signed
up users.