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Report: Morocco Leads Africa, Middle East in Mobile Payments Index

Rabat – Morocco has taken the lead in mobile payments in the Middle East and Africa, according to the latest edition of the Evina & Telecoming Direct Carrier Billing (DCB) Index.

The North African country secured the highest score (3.6) and showcased a robust mobile payment landscape.

“Characterized by stability and robust protection against technical fraud, Morocco’s DCB market is a reliable and consistent sector,” the report said.

It added that this stability had allowed for “steady, albeit gradual, revenue growth without the disruptions of ‘stop and go’.”

“The [Moroccan] market’s resilience and steady progress point to a solid foundation for future DCB development,” the report stressed.

Released on Wednesday, the annual analysis shed light on the evolving landscape of mobile payments in the Middle East and Africa.

This year’s overall market rating has experienced a modest increase, moving from 2.8 to 2.9. The improvement signifies the market’s advancements, particularly in innovation and anti-fraud technology.

South Africa followed Morocco in the second spot, showing significant adoption of mobile money and promising potential for further DCB growth. 

Meanwhile, Côte d’Ivoire, with a score of 3.1, was identified as the fastest-growing market.

The report also spotlighted the positive strides in the Middle East, with Kuwait and the United Arab Emirates making noteworthy progress. 

Saudi Arabia, with a 3.4 rating, solidified its relevance in the region and contributed to the overall rise in the average score.

CEO of Evina David Lofti noted that “this year’s ranking reveals a positive trend in the overall security levels among DCB players in the MEA region.”

But he said it is crucial to acknowledge the growing disparity in security levels between players, stressing: “Investments in development and security are proving beneficial for some, while others find themselves vulnerable to fraudsters targeting less protected regions.”

Meanwhile, Chief Operations Officer at Telecoming Roberto Monge at Telecoming emphasized the substantial growth in innovation and the rise in the average indicator by 3.4 points out of 5 in the past year. 

He sees these advancements as vital drivers of the mobile economy, where DCB has already established a prominent presence.

Source : Morocco World News