The Ordinary General Meeting of the Morocco Mobile Payment Group (GP2M) was held on Thursday, June 30, 2022 at the Bank Al Maghrib branch in Casablanca.
The meeting approved the balance sheet of shares and the consolidated accounts for the financial year ended December 31, 2021, as approved by the Board of Directors at its meeting of June 22, 2022 and as certified in the reports of the auditor.
During the meeting, the members of the group called for accelerating the generalization of money transfers to citizens concerned by public subsidy programs, through electronic wallets (M-wallets) as is already the case for the program Tayssir or reimbursements granted under the compulsory health insurance scheme (AMO).
Today, the mobile payment ecosystem totals more than 6.2 million M-Wallet holders, 90% of which are issued by 13 payment institutions.
The remaining 10% are issued by the Banks. Also, all types of transaction are now interoperable between members of the group and account credits are instantaneous and secure.
In addition, the mobile payment services offered today on the M-wallets by the members of the group are payment at merchants on smartphones or on TPE, sending payments remotely, E-commerce payment, transfer money between individuals as well as withdrawals from ATMs (currently on the entire BANK OF AFRICA network and gradually on the entire national banking network).
Today, the majority of operators offer the creation of M-wallet remotely from the mobile application and on the basis of electronic verification of the CIN.
