BANK OF AFRICA, a leading bank in Morocco, has entered into a long-term strategic partnership with Mastercard. This collaboration aims to introduce innovative solutions and accelerate the digitalization of payments, promoting financial inclusion and developing an inclusive digital economy.
Focusing on expanding the bank’s card portfolio, the partnership will leverage Mastercard’s global expertise to support BANK OF AFRICA in enhancing its offerings for individuals, small, medium, and large enterprises. The initiative also plans to launch multiple new products and innovative solutions in the Moroccan market.
“BANK OF AFRICA is a pioneer in digital banking, playing a crucial role in promoting financial and social inclusion. We continue to diversify our payment solutions to meet the evolving needs of individuals and businesses. With this new agreement, we are taking our collaboration with Mastercard to the next level. Our diversified portfolio will help us position ourselves as the leading bank in digital payments in Morocco,” said Khalid Nasr, Executive General Manager of BANK OF AFRICA.
“At Mastercard, we are committed to supporting Morocco’s digital transformation by joining forces with key ecosystem players such as BANK OF AFRICA. Through our new collaboration, we will provide the bank’s customers with innovative and secure payment solutions supported by cutting-edge technologies, allowing them to have a seamless user experience. Together, we aim to contribute to the rapid growth of the digital payments ecosystem in the country and include more populations in the digital economy,” said Dimitrios Dosis, President EEMEA at Mastercard.
The digital payments market in Morocco is experiencing remarkable growth, driven by a young and tech-savvy population, as well as the increasing popularity of e-commerce. According to Statista data, the volume of digital transactions in the country is expected to reach USD 6.53 billion this year and USD 8.468 billion by 2028.
About Mastercard
Mastercard (NYSE: MA) is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships, and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
