Instant Transfer Boom Sweeps Banking Transactions

The annual report issued by Bank Al-Maghrib on financial market infrastructures, payment means, and their oversight for the year 2025 revealed a radical transformation and a record surge in the Kingdom's financial transaction behavior, driven by the soaring rise of the instant bank transfer service, which entered into interbank operational cooperation in coordination with the Groupement pour le Système Interbancaire Marocain de Télécompensation (GSIMT). Official data documented by the central bank indicate that the Instant Transfer Clearing Platform (PCVI) processed approximately 29 million transactions during 2025, compared to 16.3 million transactions recorded in 2024, achieving an exceptional leap with a growth rate of 77.9% (nearly 78%) in the total volume of completed operations. This momentum was not limited to numerical density alone, but was directly reflected in the total financial value, which reached 107.5 billiondirhams during 2025, compared to 61.7 billion dirhams in 2024, marking an annual increase of 74.2%. This reflects the expanding scope of reliance on real-time payments by individuals and professionals 24 hours a day, 7 days a week. 

This explosion in the pace of instant transfers has been accompanied by continuous growth in overall exchange activity among credit institutions in Morocco. The report stated that the total value of exchanges processed via the Mass Payment Clearing System (SCPM) reached 2,717.1 billion dirhams for the year 2025, registering an increase of 7.6% compared to the results of 2024. On the technical and operational front, which underwent rigorous periodic evaluations by financial regulatory authorities, the mass payment clearing system maintained extremely high reliability with an availability rate of 99.9% throughout operating periods without recording any major technical incidents, while the average clearing ratio reached 10.1%. This field performance is complemented by developments in the Moroccan Gross Settlement System (SRBM) dedicated to large amounts and urgent bank settlement operations, which recorded an increase in payment orders issued by direct participants of 18% during 2025, achieving a technical availability rate of approximately 99.73%, supported by an advanced software version launched by Bank Al-Maghrib in November 2025 fully compliant with the international financial standard (ISO 20022). 

This digital leap intersects with a parallel dynamic witnessed in the bank card sector, where the "Switch Maroc" system processed an increase in authorization numbers of 24.4% in 2025, with card payment operations reaching 230.1 million transactions with a total value of approximately 70.8 billion dirhams. Despite these accelerating positive indicators that support financial inclusion and the modernization of national payment networks, the monetary authority's report pits these gains against an ongoing structural challenge represented by the dominance of cash circulation. Bank Al-Maghrib issued about 800 million new banknotes during the year 2025 alone, compared to 650 million notes in 2024, confirming that accelerating the pace of digital payments still requires deeper strategies to reduce reliance on manual liquidity. This internal dynamic is crowned by a growing external openness of the Moroccan financial system, embodied in Bank Al-Maghrib's joining in June 2025 of the Pan-African Payment and Settlement System (PAPSS), enhancing continental integration and culminating a regional integration path that began by joining the Arab "AFAQ" / "Buna" payment platform in 2023, thereby establishing an integrated financial infrastructure that keeps pace with national and international digital transformations.