The fintech firm Pay10 has secured regulatory approval from Morocco’s central bank, Bank Al‑Maghrib (BAM), to operate as a licensed payment institution in the country.
The licence marks a significant milestone both for Pay10 and for Morocco’s push towards a modern, inclusive digital‑payments ecosystem. With this authorisation, Pay10 is now cleared to offer regulated digital payment services across Morocco, such as mobile wallets, payment gateways and infrastructure for merchants, SMEs and consumers.
In its official announcement, Pay10 said the licence underpins its commitment to aligning with Morocco’s national vision of a digitally strengthened economy and improved financial inclusion for underserved segments. The firm emphasised goals of lower transaction costs, quicker settlement, full interoperability and coverage across the entire territory. For Morocco, this development is timely. The country has been actively seeking to accelerate the adoption of cashless payments, mobile‑wallet services and digital financial solutions for citizens and businesses alike. Regulations such as BAM’s Decision No. 392/W/2018 underline the framework for mobile payments and interoperability in the Moroccan market.
Pay10 brings an established global presence to the region and will now be able to plug into Morocco’s payments infrastructure. The move is expected to boost competition, enhance choices for merchants and consumers, support SMEs through more efficient payment systems and help further digitise the economy. From Pay10’s perspective, being regulated locally adds credibility, supports compliance and opens opportunities for growth in Morocco’s growing digital payments sector.
Leave a Reply