Bank Al-Maghrib keeps repeating it: payment digitalization is a national priority. Mobile money, digital wallets, QR codes... initiatives are multiplying. Yet cash remains king. Over 80% of transactions in Morocco are still made in cash, a figure that has stagnated for years.
Infrastructure ahead of adoption
The paradox is striking. Morocco has a relatively advanced digital payment infrastructure: the CMI switching network, mobile payment solutions like M-Wallet, and multiplying fintechs. But adoption remains limited. The bankarization rate reaches 56%, but active bank card ownership is much lower.
Trust, again and always
At the heart of the problem, we find trust. Many Moroccans prefer cash because they "see" their money, they physically control it. Paying online means sending money into the void hoping everything goes well. Stories of card fraud, unauthorized charges, or orders never received fuel this distrust.
The hidden cost of cash
What many don't realize is that cash has an enormous cost for the economy. Printing bills, secure transportation, merchant handling, theft risks, untaxed informal economy... Bank Al-Maghrib estimates that the cost of cash represents about 0.7% of GDP. Not to mention the impact on financial inclusion and transaction traceability.
Trust as a catalyst
To accelerate the transition to digital, it's not enough to create new payment technologies. You need to create trust. That's where solutions like escrow come in: by guaranteeing that money is protected until service confirmation, you remove the main psychological barrier to online payment.
The day Moroccans have as much confidence in an online payment as in a hand-to-hand cash exchange, the digital revolution will truly be underway. Escrow is a decisive step in that direction.