Instant bank transfers processed through Morocco’s national real time payments system reached 16.3 million operations in 2024, confirming a rapid shift in how households and businesses move money, according to Bank Al Maghrib’s annual report on market infrastructures and payment systems.
Launched in June 2023, the instant payment platform recorded a cumulative 22.5 million transactions by the end of 2024 as usage accelerated during the year. The central bank said volumes tripled on an annual basis, positioning Morocco among a small group of markets where real time payments are becoming a mainstream instrument.
Daily usage climbed sharply. Average transactions rose from about 24,600 per day in 2023 to more than 64,600 by December 2024, with a single day peak of 231,000 payments. In value terms, the platform processed a daily high of 797 million dirhams, reflecting wider adoption across retail customers, companies and public bodies.
The system allows interbank transfers to settle within seconds around the clock, removing constraints linked to business hours and batch processing that long shaped domestic payments. Banks integrated the service across mobile and online channels during 2024, while merchant acceptance expanded through application programming interfaces and wallet interoperability.
Central bank officials link the take up to convenience and reliability as users seek faster settlement for wages, supplier payments and peer to peer transfers. Enterprises reported shorter cash cycles and fewer payment delays as transactions moved to real time rails.
The expansion is part of the National Payments Strategy led by Bank Al Maghrib with lenders and payment operators to reduce dependence on cash, broaden electronic acceptance and reinforce trust in digital instruments. Instant transfers sit alongside card, mobile and account to account initiatives intended to modernize the payments backbone.
Internationally, Morocco’s trajectory mirrors early adopters in Europe and Asia where real time payments reached scale within a few years of launch. Domestic indicators show a similar pattern, with volumes and values rising in parallel to new use cases.
Regulators say further growth will depend on merchant onboarding, public sector usage and consumer awareness as instant transfers move from novelty to default.
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